BALTIMORE ( Stockpickr) -- The Federal Reserve Board released its semi-quarterly Beige Book yesterday, a report that outlines the nation's current economic conditions. While the numbers indicated another period of moderate growth, investors reacted by slamming their collective brakes and shoving the market down to a flat close for the day.But it doesn't matter which way the broad market ends the week; we're going to take a look at how the big-name stocks are trading technically and see whether or not it's time to make a profitable play. Technical analysis uses a stock's price movements to determine where shares are headed in the future. Technical charts are used every day by proprietary trading floors, the street's biggest financial firms and individual investors to get an edge on the market. And according to some sources, skilled technical traders can bank gains as much as 90% of the time. Every week, Stockpickr analyzes the technicals for some of Wall Street's highest-volume stocks and takes a look at how to trade them. Here's this week's look at how some of the biggest names on Wall Street are trading technically.
International mining giant Rio Tinto ( RTP) is having a strong week. Shares are up 5.7% in the last three trading days. But it's this stock's potential right now that has traders' attention.
China Mobile ( CHL) controls more than 70% of the Chinese mobile phone market, a fact that didn't spare the company from a sizable share slide yesterday following the announcement that the company would diverge from its core business and make a significant investment in a Chinese bank.
Best-of-breed automaker Ford ( F) is no stranger to our Must-See Charts list. I called the company a technical buy back in mid-December and again in January. All told, if you'd bought shares on the technical trigger I mentioned, you'd have banked 33.7% gains. And I think this car company is set to deliver some even bigger ones in the next month.
Twitter and become a fan on Facebook.