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Gary Johnson L
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  • Some Trading Ideas On Christmas Day 0 comments
    Dec 25, 2012 3:05 PM | about stocks: ACCL, TLAB, XLK
    Some Trading Ideas on Christmas Day

    Labels: ACCL, TLAB, XLK

    I wish everybody has a Merry Christmas. As I mentioned, I am currently in Hong Kong but I will continue updating this blog.

    (click to enlarge)
    Accelrys Inc. (NASDAQ: ACCL) have failed to break a new high. As long as it's trading above $8.45, the outlook is still bullish. However, due to the failure in breaking out, I suppose a correction to MA(50) is coming. Healthy MACD and No overbought level on RSI.

    (click to enlarge)
    Technology Select Sector SPDR (NYSE: XLK) is trading around the lower band of a rising channel and shows support from MA(50). I always consider RSI consistently finds support around 50 level a bullish sign. Consider long in this ETF if we see green candlestick on the 26th.

    (click to enlarge)

    Tellabs, Inc. (NASDAQ: TLAB), my best-performing picks for this month, has shown price appreciation (after adjustment for $1 dividend). 24th's candlestick is entirely above MA(50). Despite short trading hours, it traded with pretty great volume. It also makes a new high since Oct and touches the upper Bollinger band again. I suggest a new round of bullish action is due to come in no time. Keep an eye on this stock. It has great fundamentals.

    More stock picks to come tonight.

    Thank you for visiting,

    Gary Lee

    Twitter: GaryLee_HK

    Disclosure: I am long TLAB.

    Stocks: ACCL, TLAB, XLK
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