Stock Picks for Friday July 02

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ROYL - The short-term bullish correction should remains intact as long as the trendline support (green) hold. The trendline support area technically is a good place for a long position. I'll watch the stock closely on Friday as there looks to be good upside potential in this trade.

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There is a possibility of a double bottom formation in THQI. The divergence in MACD is pretty impressive and I also see the stochastic indicator suggesting an extreme oversold condition.

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The stock attempted to push lower today, but found a good support at 6.50 as you can see on my daily chart above. The bias remains neutral in nearest term and I am still in wait and see mode but we could have upside rebound from here. MOT hit a high of $6.58 on the day, which is resistance for Friday’s upside move.

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Shares of Cell Therapeutics Inc. surged 13 percent to $.42 per share on today's trading sesssion, after the company said that it has made a deposit to cover the costs of all of its convertible debt coming due in 2010. The company said it deposited $39.3 million in cash with U.S. Bank National Association to eliminate shareholder concerns about its ability to pay off the debt. Looking at the technical chart, CTIC has chance to back to rally as %K line is now back on top over %D line. However with MACD still trading below 0, the stock may encounter some resistence around 50 day moving average at $0.46. If CTIC can break this resistance level we should see a strong upside move. Overall, the bias remains neutral in nearest term. Expected range remains at 0.5-0.30. We need a break from this range to see clearer direction. There looks to be good upside potential in this trade, so watch the stock closely on Friday.

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The stock bounced on Thursday as the market rallied off lows. GNBT closed positive on the day as it looks to be ready for a reversal move. I'm a buyer of GNBT once it breaks through today’s high of $0.34. This stock can pop big time on any positive news, so watch it closely on Friday.

New 52-week High stocks

IDT - IDT Corp
PTY - Pimco Corporate Opp.

New 52-week Low stocks

PFE - PFIZER INC.
YHOO - Yahoo! Inc
QCOM - QUALCOMM Incorporated
MS - Morgan Stanley Dean
NVDA - NVIDIA Corporation
ADBE - Adobe Systems Incorporation
RIMM - Research in Motion
SYMC - Symantec Corporation
JCP - PENNEY J C CO INC
GS - GOLDMAN SACHS GROUP
BK - Bank Ny Mellon
AKS - A K STEEL HOLDING CORP
ONNN - ON Semiconductor Co
WFR - MEMC Electronic Mat
SPLS - Staples, Inc.
ERTS - Electronic Arts Inc.
WU - Western Union
JNPR - Juniper Networks
APOL - Apollo Group, Inc.
STT - STATE STREET CORP
HCBK - Hudson City Bancorp
NUE - NUCOR CORP
KGC - KINROSS GOLD CORP
SVU - SUPERVALU INC
AMTD - TS Ameritrade Holdings
GT - GOODYEAR TIRE & RUB
STLD - Steel Dynamics, Inc.
BAX - BAXTER INTERNATIONAL
PBCT - People's Bank
COCO - Corinthian Colleges
MOS - Mosaic Co
GMR - GENERAL MARITIME CORP
KG - KING PHARMACEUTICAL
JNS - Janus Capital Group
FHN - FIRST TENNESSEE NAT
IDTI - Integrated Device T
SAI - SAIC INC
PMCS - PMC - Sierra, Inc.
ETFC - E*Trade Financial
BCS - BARCLAYS P L C
CVH - COVENTRY HEALTH CAR
NTRS - Northern Trust Corp
GMXR - Gmx Resourcs Inc

Stocks with Unusual Volume

STR - QUESTAR CORP
BJ - BJ'S WHOLESALE CLUB
YESD - YesDTC Holdings Inc
ADLS - ADVANCED LIFE SCIENCE
STST - Argon St Inc
AMED - Amedisys Inc
PTSEF - POINTS INTL LTD
UBCI - Santeon Grp Inc
GCEH - Global Clean Energy
QEP - Qep Resources
NUEC - Nu Earth Corp
ONP - Orient Paper Inc
PSPF - PURCHASE POINT MEDI
LLNW - Limelight Networks Inc
CBZ - CBIZ Inc
TSCDY - Tesco PLC (ADR)
OSCIQ - Oscient Pharm
ALALF - Alcatel Alsthom Co
NSEH - Jaguar Investments
PWV - POWERSHARES DYNAMIC
IBI - INTERLINE BRANDS INC
NMXC - NMXS.com Inc
CHCG - ANZA INNOVATIONS INC
MNGPY - Man Group PLC
GSL - Global Ship Lease Inc
SPMI - SPEEDEMISSIONS INC
CYXI - AGRONIX INC
NGRN - Renewable Energy Re
IMSC - Implant Sciences Corp
CAMH - Cambridge Heart, Inc.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Good luck to all,

AC

Labels: CTIC, GNBT, MOT, ROYL, THQI