Short Term Trading Ideas for Christmas Week
Facebook Inc (NASDAQ: 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.
Shares of JinkoSolar Holding Co., Ltd. (NYSE: 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 (NASDAQ: 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.
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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