Monday’s Trade Ideas

Traders Blog | Monday 8 March 2010
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AC Investor

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THQI broke the horizontal resistance line on strong volume and could eventually rally up to test the October highs. Looking at the technical daily chart the near-term outlook is very positive and a move to the 6.95-7.05 range appears likely. In addition KD also indicate positive momentum.
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OSIR suffered 3 straight selling days this week with the stock breaking the support at 8.19. Today the stock was up, as well as the Nasdaq. The stock is a candidate for range trading. Price level at 7.50 is now a good support level and may expect a bounce from this current level. Stochastics and RSI are both in the oversold area. Entry at 7.50, sell at 7.94, cutloss at 7.26.
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GIGM had a very bullish move this week breaking several resistance lines with large volume. The stock went as high as 3.22 and may still continue to move probably reaching up to 3.38. Checking on the indicators, the MACD is above the signal line, which is bullish and the RSI rising above 50. GIGM is displaying upside momentum and is poised to move higher from these levels.

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