Stock Market Ideas for Friday - Hovnanian Enterprises, THQ Inc. and Research In Motion Limited

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RIMM is trading higher after hours on Tuesday, as the company released their earnings. The stock should gap higher on Friday and I will be watching closely. I'm using 25th September high of $71.7 as resistance for this breakout move. There will be a lot of movement in RIMM so watch the stock closely on Friday.

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THQI ruled firm as anticipated last week. It managed to move closer to the target zone of $4.55-$4.60. The share price appears on course to move to this target zone. The stock closed the day near highs which leads us to believe the rally will continue on Friday. Resistance is $4.52, which was last Wednesday’s high. If the stock can break through this level, we should see good follow through movement. Technical indicators such as KD also show buy signal as K line has just crossed on top over D line. THQI seems to have a remarkable support around the $4.30 mark and the medium-term chart shows a falling wedge, a bullish indicator. If it breaks out of this wedge that is a very good sign. Watch THQI closely and there could be an opportunity on Friday.

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HOV - Shares of Hovnanian Enterprises fell after the company reported reported a quarterly net loss of $250.8 million, or $3.21 per common share, late Wednesday. That compares to a net loss of $450.5 million, or $5.79 per common share, a year earlier. Revenue was $437.4 million in the latest quarter, versus $721.4 million in the same quarter a year ago, the Red Bank, N.J.-based company added. Analysts had forecast a quarterly loss of $1.72 a share on revenue of $464.1 million, on average. The stock is sitting on the 13-day moving average. However the internal indicators ( KD, MACD and RSI ) are showing positive divergences and in the world of technical analysis, that is good. Investors may hold with a stop-loss at $3.74. The near-term outlook would depend on the price movement in the next few days. A close above $4.16 would impart bullishness and would help the stock move to the $4.4-$4.5 band. A drop below $3.74 would have negative implications that would push the stock down to the $3.60-$3.50 range.

Other Stocks to Watch :

Stocks that have a Bullish Engulfing pattern at the end of their daily chart.

GCI - GANNETT CO INC
BJS - B J SERVICES CO
HCBK - Hudson City Bancorp
OSK - Oshkosh Corp
GGWPQ - GENERAL GROWTH PROP
TWI - TITAN INTL INC
ED - CONSOLIDATED EDISON
LIZ - LIZ CLAIBORNE INC
SNPS - Synopsys, Inc.
NIHD - NII Holdings Inc
FE - FIRSTENERGY CORP
PLL - PALL CORP
MAC - MACERICH CO
JAH - JARDEN CORP
WHR - WHIRLPOOL CORP
HITK - Hi-Tech Pharmacal C
NITE - Knight Capital Inc
STR - QUESTAR CORP
CCO - CLEAR CHANNEL OUTDO
ABFS - Arkansas Best Corpo
ODFL - Old Dominion Freigh
SHO - SUNSTONE HOTEL INVE
MTB - M & T BANK CORP
KNX - Knight Transportati
FNSR - Finisar Corporation
RTI - R T I INTERNATIONAL
ETP - HERITAGE PROPANE PT
SKX - SKECHERS USA INC
HEV - Enerl Inc
PFCB - P.F.Chang's China B
PAA - PLAINS ALL AMERICAN
WL - WILMINGTON TRUST CORP
HIBB - Hibbett Sports
AME - AMETEK INC NEW
JOE - ST JOE CORP
LSTR - Landstar System, Inc.
DISCK - Discovery Communica
HSNI - HSN Inc
DAR - Darling Intl
SSI - Stage Stores, Inc.

Stocks that have a Bearish Engulfing pattern at the end of their daily chart.

VRSN - VeriSign, Inc.
SEED - ORIGIN AGRITECH LIM
IACI - IAC InterActiveCorp
SRE - SEMPRA ENERGY
JNK - SPDR Lehman High Yi
NVS - NOVARTIS A G
HXL - HEXCEL CORP
FLIR - FLIR Systems, Inc.
EDU - New Oriental Educat
IMA - Inverness Medical T
CNK - Cinemark Holdings Inc
EQIX - Equinix, Inc.
CBEY - Cbeyond Inc

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 tomorrow !!!

AC

Labels: HOV, RIMM, THQI

RIMM definitely haven't seen the full benefit of their better than projected earnings, I think the only thing holding them back is the malaise that's hit the market today.

With the Asian markets continuing the trend tonight we might have to wait till next week for RIMM to show it's true potential.

THQI should rally at some point over the Christmas period but if not then definitely in January.

Industry buzz surrounding their multi-platform "Darksiders" video game is good and it's due in the first week of January.

Aimed at the male teen demographic expect to see a lot of Christmas Present money/vouchers spent on this.

Positive sales figures (NPD results) will turn investors bullish on this stock if speculation hasn't beforehand.

Posted by Anonymous | 3:39 AM