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Friday, September 18, 2009 

Hot Stocks to Watch next week - American Oriental Bioengineering Inc. , Melco Crown Entertainment Ltd. and Juniper Networks

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I have been following this stock for a while and bought some after the major resistance level around 6.60 was broken. Honestly, MPEL looks like it could go to $10 even higher by the end of year. Nice growth, good expansion and management team. I believe the current uptrend is sustainable and I do expect that we will have a quick upward movement. According to the latest company report the company held approximately US$660 million of cash at the end of the second quarter, and they expect to have approximately US$176 million of capital expenditures at City of Dreams in the current quarter. The Grand Hyatt Macau is on track to open, which should be a significant driver of gaming revenue and market share to MPEL. Overall, the flux of news have been in favor of Bulls and the volume of shares trading hit the highest level of the recent months, for that reason I prefer to keep with my long position on stock respecting the breakout mode. After a strong runup since its September bottom (5.73) , MPEL looks poised to rally again from this small pullback. Present technical indicators are in favor of Bulls.

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JNPR has broken out today and made a new 52 week high during regular session, however shares fell below of their highs by the end of the day, to finish at $27.62. This is what strong stocks generally do in a rebound : break resistance, hold the breakout and continue higher. A move towards $28 can be expected as long as $27 holds. I would like to see at least a move above $28.80 before betting on a pull back. The technical daily chart shows a very strong upward momentum as the stock is above the 50 day moving average with both 200 day and 50 day moving average going up. In addition RSI and MACD also show very bullish signs.

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AOB has held support at the 5.35 level ( 50-day moving average ) and is displaying a screaming buy divergence on the upside. Momentum has hit new highs. Expect an initial run up to $5.67 with a break higher moving to the 5.95/6 zone. From a pure technical standpoint this chart tells you that the place to be in AOB is on the long side, with Stochastics and MACD indicators, both rising.

Other Stocks to Watch :

Today's Candlestick pattern was as follows: Bullish Engulfing

VG - Vonage Holdings Corp
AHR - Anthracite Capital Inc
SWY - SAFEWAY INC
PCU - Southern Copper Cp
TIBX - TIBCO Software, Inc.
CYTR - CytRx Corporation
ENCO - Covalent Group, Inc.
DLTR - Dollar Tree Inc
FTWR - FiberTower Corp
SWI - SolarWinds
ARRY - Array BioPharma Inc
HLTH - HLTH Corp
MDAS - MedAssets Inc
BLK - BLACKROCK INC
CAVM - Cavium Networks Inc
DGI - Digitalglobe Inc
CFX - Colfax Corp

Today's Candlestick pattern was as follows: Bearish Engulfing

C - CITIGROUP INC
LVS - LAS VEGAS SANDS CP
ATVI - Activision, Inc.
ECL - ECOLAB INC
ADI - ANALOG DEVICES INC
HOLX - Hologic, Inc.
MAT - MATTEL INC
CI - Cigna CORP
YGE - Yingli Green Energy
FDX - FedEx Corporation
SWN - SOUTHWESTERN ENERGY CO
MT - Arcelormittal
YRCW - Yellow Roadway
VRSN - VeriSign, Inc.
QLGC - QLogic Corporation
CTXS - Citrix Systems, Inc.
RRC - Range Resources Corp
SNPS - Synopsys, Inc.
LPL - LG Display Co
MYGN - Myriad Genetics, Inc.
MSCC - Microsemi Corporation
CPN - Calpine Corp
PDCO - Patterson Co
ZQK - Quiksilver Inc
HLIT - Harmonic Inc.
AKRX - Akorn, Inc.
SAPE - Sapient Corporation

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. Have a nice weekend...
Cheers!

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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