Stocks to watch on Wednesday Jan 06

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CIEN had a very strong day on Tuesday in a weak market. The stock surged over 7% on rumors that Nokia may be interested in a takeover. Ciena traded nearly 20 million shares, closing at $11.86, up from $11.02 on Monday, January 4th the prior day's close. I'm looking for the stock to continue its up move on Wednesday. Further rally could be seen to retest $12.50 medium term resistance. As long as the stock stay above 11.38 area, the bullish scenario is still intact. Technical chart shows bullish sign with K line on top of D line and MACD on top of signal line. Next targets for the stock are $12.50 and $12.886. Only a close below $10.76 reverses the current uptrend.

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RZ has consolidated for the past 3 trading sessions after a big move on 30th December. If the stock consolidates around the $1.2-1.25 level, watch for the next big up move. This stock can move very fast, with larger swings. Keep an eye on it for Wednesday.

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I am keeping HANS on the list because it has been consolidating the past trading sessions at lower volume, after breaking out last week. I am buying the stock again above Tuesday's high of $39.52. Watch this stock closely today.

Other Stocks to Watch :

Speculative plays

CIEN - Takeover rumors.
DRYS - DryShips, Inc. - Watching for a close above $6.54
ETFC - E*TRADE Financial Corporation - Watching for a close above $1.84
SIRI - SIRIUS XM Radio Inc. - I Will buy on a break above $0.706
CTIC- Cell Therapeutics - Watching for a close above $1.20
LLBO - LIFELINE BIOTECH - Watching for a close above $0.0027
OCNF - I am a big fan of OCNF for the long term. Watching for a close above $1.07

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

AMR - A M R CORP
NVDA - NVIDIA Corporation
SBUX - Starbucks Corporation
MRVL - Marvell Technology ...
STI - SUNTRUST BANKS INC
AAI - AirTran Holdings, Inc
PNC - PNC Financial Services
IP - INTERNATIONAL PAPER CO
TSN - TYSON FOODS INC CL A
CLX - CLOROX CO
FL - Foot Locker Inc
SHLD - KMart Corp
IM - INGRAM MICRO INC
HOG - HARLEY DAVIDSON INC
WYN - Wyndham Worldwide WI
AN - AUTONATION INC
FSLR - First Solar Inc
FDX - FedEx Corporation
STJ - ST JUDE MEDICAL INC
PCAR - PACCAR Inc
ANF - ABERCROMBIE & FITCH CO
RL - POLO RALPH LAUREN CORP
SPWRA - SUNPOWER CORPORATION
NSC - NORFOLK SOUTHERN CORP
CUZ - COUSINS PROPERTIES INC
EXPD - Expeditors International
WRI - WEINGARTEN REALTY INVS
CRI - CARTERS INC
CTB - COOPER TIRE & RUBBE
MDC - MDC HOLDINGS INC
BZ - Aldabra 2 Acquisition
FO - FORTUNE BRANDS INC
DDS - DILLARDS INC CL A
DLR - DIGITAL REALTY TRUS
RYN - RAYONIER INC
MTB - M & T BANK CORP
POOL - Pool Corp
RJET - REPUBLIC AIRWAYS HL
DTG - DOLLAR THRIFTY AUTO
KEX - KIRBY CORP
ICLR - ICON plc
MDAS - MedAssets Inc
MELI - MercadoLibre Inc
COT - COTT CORP
CVD - COVANCE INC
APKT - Acme Packet Inc
MIN - M F S INTERMEDIATE
PCH - POTLATCH CORP
AAN - AARON RENTS INC

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

AA - ALCOA INC
SMH - Semiconductors HOLD
BBD - BANCO BRADESCO SA ADS
DD - DUPONT E I DE NEMOU
MNKD - MANNKIND CP
LLY - LILLY ELI & CO
TEVA - Teva Pharmaceutical
BRCM - Broadcom Corporation
ONNN - ON Semiconductor Co
ABT - ABBOTT LABORATORIES
SVU - SUPERVALU INC
PBI - PITNEY BOWES INC
JBL - JABIL CIRCUIT INC
RTN - RAYTHEON CO NEW
FRX - FOREST LABORATORIES
OXY - OCCIDENTAL PETROLEU
NWL - NEWELL RUBBERMAID INC
FPL - F P L GROUP INC
NYX - NYSE EURONEXT INC
LEG - LEGGETT & PLATT INC
MFE - Network Associates
TWC - Time Warner Cable Inc
LO - Lorillard Inc
PNK - PINNACLE ENTERTAINMENT
HAS - HASBRO INC
WCRX - Wrner Chil Plc A
HW - Headwaters Inc
ETN - EATON CORP
NAV - NAVISTAR INTL CORP
EVVV - EV3 INC
MSCC - Microsemi Corporation
MOLX - Molex Incorporated
SY - Sybase Inc
CREE - Cree, Inc.
ETR - ENTERGY CORP HLDG CO
EMN - EASTMAN CHEMICAL CO
LLL - L3 Comm
INT - WORLD FUEL SVCS CORP
AMCC - Applied Micro Circuits
MATK - Martek Biosciences
ICON - Candie's, Inc.
LOGI - Logitech International
LPNT - LifePoint Hospitals
EME - EMCOR Group Inc
RY - ROYAL BANK OF CANADA
VLY - VALLEY NATIONAL BAN
TSCO - Tractor Supply Company
HTS - Hatteras Financial
MRH - Montpelier Re Holdings
CRUS - Cirrus Logic, Inc.
WSO - WATSCO INC
ESI - I T T EDUCATIONAL SVCS
BMS - BEMIS CO INC
VNDA - Vanda Pharmaceutical
THS - TREEHOUSE FOODS INC
WCN - Waste Connections Inc
ATO - ATMOS ENERGY CORP
GVA - GRANITE CONSTRUCTIO
HE - HAWAIIAN ELEC INDS INC
PTP - Platinum Underwrite
BXS - BANCORPSOUTH INC
IMGN - ImmunoGen, Inc.
CNC - Centene Corporation
ETH - ETHAN ALLEN INTERIO
BKCC - BlackRock Kelso Cap
OMI - Owens & Minor Inc
OEH - ORIENT-EXPRESS HOTEL
BCO - Brinks Company
AME - AMETEK INC NEW
WGL - WASHINGTON GAS LIGH
NX - Quanex Building
VGR - Vector Group Ltd
ZNT - ZENITH NATIONAL INS
XRA - EXETER RESOURCE CORP
SI - SIEMENS A G ADR

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 later !!!

AC

Labels: CIEN, HANS, RZ