Trade Ideas for Tomorrow: GTXI, RMBS, VRX, YHOO

Downward bias in Valeant Pharmaceuticals Int (NYSE:VRX). The stock broke support of $51.15 today on above average volume. Short term momentum indicators, like MACD, RSI and Stochastics are also in Bearish areas. A decline to its 50-day moving average currently at $46.13 rappears likely.

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After trading GTx, Inc. (NASDAQ:GTXI) not to long ago on its breakout i re-entered this today as it broke above $4.28 resistance on the intraday chart which was a breakout of its bull flag on the daily chart. I like that the stock finished strong and expect to see a continuation move. The technical chart looks Bullish with both 20, 50 and 200 daily moving averages going up and MACD on top of 0, RSI in a Bullish area too. Keep the stock on your screen throughout the day on Tuesday.

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Rambus Inc. (NASDAQ:RMBS) broke down its support today on increased volume and selling pressure making this stock appear that it could easily be sent down to its support around $19. Only the break of the prior support now resistance confirmed by a daily closing will support higher levels.

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Yahoo! Inc. (NASDAQ:YHOO) broke out to a new all-time high today, accompained by a strong volume suggesting higher levels. The consolidation and compression that has been going on in the last four months is very healthy. The technical chart still showing a bullish bias. KD line shows positive signs as %K line is rising on top over %D line and RSI continue moving up. I suspect the stock may continue to appreciate over the coming days.

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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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