Trade Ideas for Tomorrow: AMD, ERTS, NVDA, RMBS

There has been a persistent decline in Advanced Micro Devices, Inc. (NYSE:AMD) shares since the start of this month tempered with short-lived and unconvincing rallies. From the technical chart the short-term trend is still weak as the stock is still below its 50 and 200-day moving average. The stock needs to close above $7.71 in order to alleviate the negative near term view. If the stock fails to move above this level, it can decline to $7 area.

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NVIDIA Corporation (NASDAQ:NVDA) closed at $24.54 on Wednesday, up 57 cents points for the day. The stock made a strong upside reversal. The technical chart below suggests that stock might find now resistance at $25.05. Only a close above this level would suggest further upside. Remain invested with a stop loss at $23.90.

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Electronic Arts Inc. (NASDAQ:ERTS) – Although the moving averages of stock are showing weakness as the stock is still trading below 50 and 200 dma, there is one technical indicator showing some strength, the stochastics. ERTS has chance to start new rally, because %K line has just crossed on top over %D line. The stock at least can hit the 50-day moving average at $15.71 cents per share. Watch to see what it does here.

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A short-term buying signal emerged on Rambus Inc. (NASDAQ:RMBS) today after its 50-day moving average edged above its 200-day moving average, forming a Golden Cross that can often indicate further rises. In addition, the stock is forming rising peaks and troughs on the daily charts which define an up trend. Investors with medium-term horizon can hold the stock with stop-loss at $19.99 and long-term investors can hold with deeper stop at $19.20. Target above $21.72 is $22.82. Keep an eye on her.

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Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.
About Antonio Costa 324 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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