Stock Trade Ideas For Thursday: Oracle, Exxon Mobil, Google, JP Morgan

By Antonio Costa on April 15, 2009
Exxon Mobil (XOM: 68.14 0.00 0.00%) - Unfortunately the stock is still looking for a bottom. It has recently broken support at 68. Looking closely at the chart, it has not only broken an important support, but it has also broken a large symmetrical triangle that has been formed since the start of the stock’s decline February 2009. Currently 20 day MA is acting as a resistance. I expect price to move downwards to 64 and there is still a possibility of reaching 63-62 price level. The technical daily chart shows the stock is on still weak as it is still trading below 50 day and 200 day moving average while K line is falling below D line.
Oracle (ORCL: 18.59 0.00 0.00%) - The technical daily chart above is showing mixed signal as MACD indicate bull market as MACD is on top of signal line while KD and ROC still shows weak signal as K line is below D line and ROC is back at overbought level. The short term trend still looks bullish as the stock is still above 50 day and 200 day moving average, however fresh exposures may be avoided for the moment. A close below 18.36 would be an early sign of weakness and a drop below 18.25 would impart weakness.

By Zachary Musso on April 16, 2009
Let’s first begin by announcing that JP Morgan (JPM: 32.56 0.00 0.00%) posts earnings in the AM Thursday, dictating how the market will do for the rest of the day. It’s a shame that the entire market will trade off of this slug of news, but that’s just the way this market is. JPM’s EPS is supposed to come in at +0.32 per share, a little under half of what it was at this time last year (+0.68 per share). The scenarios fill themselves in:
1. If JPM posts a better than expected earnings and shows a smaller amount of write downs expected from Q4 to Q1, the market will fly high.
2. If JPM posts at or below the expected earnings and shows an equal or greater amount of write downs from Q4 to Q1, this market will be six feet under.
With that said, Google (GOOG: 379.50 0.00 0.00%) earnings come out after hours Thursday, and in my opinion, they’re going to blow away the opposition. Not many have talked about a better-than-expected scenario for GOOG yet, but I think GOOG is the only salvation included in the earnings reports if the market (and JPM) gets ugly Thursday.

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.