Stock Picks and Trade Ideas for Friday - FSLR, NOK, TXN, SPLS

Chart courtesy of stockcharts ( click to enlarge ) SPLS - Staples closed at $18.42 gaining more than 15% but it has failed to cross again above the major resistance at $19.95. Looks like the stock is having a tough time to break $19.95, already tried twice. I expect the stock to 'slow down' this week with the range still maintain within $17.74-$19. Any breakout above $19.95 mean new bullish sentiment for a new target toward $21.10. Chart courtesy of stockcharts ( click to enlarge ) TXN - The short-term outlook appears positive and a move to $21 appears likely. A close above $19.40 will confirm the short-term bullish outlook. Hold with a stop-loss at $18.40. Chart courtesy of stockcharts ( click to enlarge ) NOK - As the stock has been an underperformer in the recent months and short-term outlook is also bearish, it would be better to reduce some exposures in this short-term uptrend. The bearish outlook would be negated only in a close above $18.10. Chart courtesy of stockcharts ( click to enlarge ) FSLR - Shares of First Solar Inc. surged more than 24% on Thursday, a day after the company said its third-quarter profit and revenue doubled, far exceeding analyst expectations. Now, I'm technically bullish on FSLR. The stock rose strongly on high volume following an earnings announcement and it broke out of a descending channel. Also several catalysts for short-term price appreciation exist, such as a favorable earnings announcement, accelerating revenue and earnings growth. The major resistance is now at the 158-161 area. Stay tuned on it. Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples. That's All. See you tomorrow !!! AC