Few Trade Ideas for Tuesday, Nov 22

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From a technical standpoint, the chart of Sirius XM Radio Inc. SIRI is now much improved after today's action. The MACD has reversed again the course and stock is above all of its major moving averages. For nearly four months the stock has been trading in a tight range. If it clears resistance the move may be powerful. 

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Shares of Reynolds American, Inc. RAI made a new 52 week high today closing at $40.55 on heavy volume. The stock hit a high of $40.80, which is now resistance for Tuesday's continuation move. If the stock can break through resistance, we should see another strong upside move. RAI will move very quickly, so watch the stock closely on Tuesday.

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Idenix Pharmaceuticals, Inc. IDIX made a new 52 week high this morning, but the bulls could not sustain the breakout and price closed well off its high. However, the technical chart above still showing that the stock is in a bull market rally as MACD is on top of signal line. In addition, the medium term trend is also bullish as the stock is above 50-day and 200-day moving averages with both moving averages going up. Buy only when the stock breaches $8.05. Once the stock breaks this level we should see a strong upside move. The stock needs to stay above $7.10 to keep the short-term outlook positive.  Keep the stock on your screen throughout the day on Tuesday.

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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.

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