Short Term Trading Ideas for Christmas Week

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Facebook Inc FB broke another support level on Friday and the 13-day SMA is turning down. The short term technical indicators continue to weaken. The MACD remains on its December 13th sell signal, RSI and stochastics are at new lows. FB needs to bounce back over $27.22 soon or there will be more trouble for the share price.

The stock jumped 1.26% on Friday to close at 53.93, just above resistance at 53.14, after trading as high as 54.19 intraday. A close above Friday's intraday high would confirm the short-term double bottom that has formed on the stock's daily chart and would give a buy signal. MACD gave a new buy signal, daily RSI has turned up and stochastics has risen above 20.
 

 

NVIDIA Corporation NVDA The bears failed to close the stock below the 50-day SMA, on Friday NVDA made an intraday low of $12.21 and bounced backed sharply. The stock over the short term still bullish toward the $13 target and above that the target will be $13.11 (200-day SMA). As long as stock kept trading above the $12 level the uptrend movement still valid.

 

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Career Education Corp. CECO closed just above the 50-day moving average today on high volume making a nice Bullish Hammer Candlestick Pattern, so that is a positive sign. If we get a confirmation on Monday with a close higher, than we might be headed to retest the previous high at 3.72.


Shares of JinkoSolar Holding Co., Ltd. JKS still moving in the activated drop correction mode after falling below the 6.5 level and still heading toward the targets of 5.40, where below this level the new target will be 5.14. Only a close above the 6.50 level changes my view of a move lower.


Zalicus Inc ZLCS Near the breakout zone, look for break above 0.74 to enter longs with targets at 0.91 and 0.95. Looking at the chart technicals are improving. The MACD gave a buy signal on Friday, daily stochastics and RSI have turned up.