Stock Picks and Trade Ideas for Thursday - SIGM, ILMN, CREE, RFMD

Chart courtesy of stockcharts ( click to enlarge ) RFMD - Shares of RF Micro Device surged 13% to $3.05 per share . This stock has been on a remarkable downtrend since the begin of the year. Today stock broke out an important resistance of $3.03 with heavy volume. The rising KD has carried the stock back above 50 day moving average. The stock is now back to uptrend and with MACD back above 0 and KD rising we should see stock now starting to go up. The chart above gives me great confidence !!! Chart courtesy of stockcharts ( click to enlarge ) CREE - On the long term chart of the CREE, you can see that it has broken the uptrend support line stated in early November of 2008. The next support is $24, but the important thing to take from this chart above is that the major uptrend that began in November is over. Chart courtesy of stockcharts ( click to enlarge ) ILMN - Stock broke through resistance of $79.90, but did not have much momentum behind the move. A close beyond a trendline is more significant than an intraday penetration, so keep an eye on ILMN to see if tomorrow stock will confirm intraday breakout. Chart courtesy of stockcharts ( click to enlarge ) SIGM - Good base building at $17.50 level. The stock is still in a weak market with MACD still below 0. If SIGM can hold the support around $17.50 we may see another short rally to $20 with K line still on top of D line. The rally might start soon, depending on the markets mood. 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. Have a great day !!! AC