Pharmacyclics, Inc. (NASDAQ:PCYC) – Technically, the chart shows a bearish picture for stock with MACD and KD showing weak signals. Although the Stochastic is clearly oversold, we all know that an oversold indicator, especially the Stochastic within a bearish probability can be misleading. The stock has a strong support at $8.45, but any close below this level could start a new sell off.

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Ciena Corporation (NASDAQ:CIEN) – I expect the stock to remain on the downtrend unless we see the prices closing above the $11.82 area.

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JDS Uniphase Corporation (NASDAQ:JDSU) – Technical indicators are bearish as MACD momentum and histograms trend lower at new lows in negative territory. Next major support lies at $9.08 while and next resistance lies at $10.15.

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Novatel Wireless, Inc. (NASDAQ:NVTL) dropped nearly 70% from its recent high, making it incredibly cheap on a P/E basis. The company remains well positioned in the market in many distinct areas of business. On the chart above we can see that further bearish movement was rejected yesterday. As long as the support holds at $3.26, I don’t think its a problem to include this stock in your short to medium term portfolio.

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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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