Trade Ideas for Tomorrow: AIG, BANR, MS, RMBS

Morgan Stanley (NYSE:MS) has formed a bullish engulfing pattern on the daily chart. RSI confirms the uptrend and the stock trades comfortably above the 20 and 50 DMA. I expect the stock’s near-term up trend to continue. Next resistance is located at $30.37, while immediate support has moved up to $28.58.

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Banner Corporation (NASDAQ:BANR) broke out of a bull flag today. Today’s heavy volume was what you want to see when a stock breaks resistance.I believe it’s time to be Bullish again on stock. The bull flag consolidation pattern that we are just coming out of is one of the most bullish patterns around. OBV and RSI returned to the Bullish area. If shares can break the $2.70 mark then bulls should be able to target a move to $3.46.

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Rambus Inc. (NASDAQ:RMBS) is moving higher in after hours, after the company reported good earnings and announced that it has renewed its patent license agreement with Panasonic Corporation. This five year agreement covers Panasonic’s products with DRAM memory controllers for SDR, DDR, DDR2, DDR3, and other DRAM devices. The company will receive royalty payments based on the shipment of these memory controllers. Technically speaking, RMBS broke the twenty-one barrier in Thursday’s market which was another resistance point that could generate a momentous rally. In addition the chart shows very bullish signal as 50-day moving average has just crossed on top over 200-day moving average forming the Golden Cross. With the bullish sign formed and RSI also back above 50% level we should see the stock take off from now on, so be patience on RMBS because we can see soon a nice rally. Keep watching the stock trade since it is positioned for a strong uptick in share prices!

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American International Group, Inc. (NYSE:AIG) seems to be bottoming out at good support between $40.60 and $41. It has a potential upside till around $44.60 and maybe $46.05.

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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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