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Saturday, March 28, 2009 

Stocks to watch next week - Rambus, Dendreon Corporation and American Capital Agency

Chart courtesy of www.stockcharts.com ( click to enlarge )

AGNC - The technical daily chart shows positive sign as the stock is now above both 50 day and 200 day moving aveage with MACD also back above 0 showing positive sign. The price can head towards the 18-18.39 zone. If this zone is surpassed, getting to 19.50 would be a possibility. Add to your position once there is a close above 18.39.

Chart courtesy of www.stockcharts.com ( click to enlarge )

DNDN might face a period of sideways action while it consolidates the gains booked in the last sessions. The stock will face short to medium term resistance at $4.50. Once this level is crossed with good volumes, the stock can go to $5.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Over the past week I commented several times, on the mounting of pressure against the $10.79 resistance, which suggested that a potential break will come. The projected target is for another $1.97 to be added to the point of the breakout. Looking at the chart there is an historical resistance level from last December and January at $12.76 and $11.66 respectively, this looks to be a more reasonable projection in the short term to call. A positive view, however, continues in the indicators still giving hopes for a possible breakout. RSI is near the neutral zone but above the 50 level indicating that it is neither overbought nor oversold. +DI is above –DI and ADX is beginning to bottom out. Things to focus on technical chart above is the spike in volume in late February. It marked the end of the slide and beginning of bottoming. By a technical perspective, stock still trading in a Bullish momentum, with share price above its 20 and 50 dma. In addition with MACD still above 0 and ROC at low the stock could be going up at this point. Look for prices to test the resistance levels. Resistance at 10.79, 11.66 and 12.76. Supports at 10.20, 9.92 and 9.61.

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 Folks. See you on Monday.

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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