In my last post I wrote about Nvidia (NVDA) showing a possible double bottom. It appears that the stock has followed through with the breakout, moving above 21 and showing strong volume. Look for a possible further move up soon, I’m picking up some shares at these levels.
Nvidia (NVDA) chart looks like it could be poised for a comeback. If the stock can break through it’s resistance, we should see a strong follow through, driving the stock upwards towards previous highs. Technically, the chart shows positive momentum back. Keep watching NVDA for the breakout.
After correcting with the market downturn, First Solar Inc. (FSLR) seems to have formed a double bottom and recently broke out on heavy volume.
MACD is turning positive. Expect a possible short term resistance at ~200, if the market weakness continues.
With the weakening economy, gold prices have been skyrocketing. Based on past gold prices, there is still a ways to go before gold tops out. Take a look at the chart:
Advanced Micro Devices, Inc. (AMD) has taken a beating over the past few months, and there doesn’t seem to be an end in sight. The MACD does show a slight sign of recovery, but in the current market conditions, I’d say a recovery in the near future is unlikely.
First Solar, Inc. (FSLR) recently broke out of an ascending triangle formation. Resistance has become support at around 220. First Solar has gone on an amazing run over the past few months and could be headed higher.
Keep this one on your watchlists.
