What the charts of these 7 tech stocks are saying

Filed under: Google (GOOG), Apple Inc (AAPL), Amazon.com (AMZN), XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), Research in Motion (RIMM), Technical Analysis, Stocks to Buy

While I believe much of the price action in the most actively traded technology stocks to be rather unpredictable, there are specific price points at which the odds can be in your favor. Because so many traders believe in chart reading, or technical analysis, the price action often becomes a self-fulfilling prophecy (as I’ve written about here). So, let’s take a look at some popular names with traders:

Apple Inc (NASDAQ: AAPL), after a big drop, has already put in solid sideways price action and if it can break $140, there looks to be a rather clear path to $160.

Research In Motion Ltd (NASDAQ: RIMM) has weathered this storm incredibly well, putting in a solid double bottom in the low $80s and more recently, holding the key $100 level. There’s still resistance at both $110 and $120, so a big breakout doesn’t seem likely anytime soon.

Priceline.com Inc (NASDAQ: PCLN) is still in the midst of a strong yearlong uptrend, a mere $10 off its highs. On any market rebound, I fully expect this stock to break out to new highs.

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This entry was posted on Tuesday, March 25th, 2008 at 7:09 am and is filed under Employment opportunities. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.