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Saturday, August 28, 2010 

Stock picks for next week

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From a technical standpoint this is still a good time to buy AAPL in short-term as %K line has just crossed on top over %D line. Nevertheless the short term trend is still weak as the stock has been trading below 50 day and 20 day MA with 50 day MA now going downward showing bearish signal. Immediate resistance is at 242.61 (yesterday’s high). A break above that area could trigger further upside recovery testing 252.18. Watch AAPL on Monday.

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The short-term outlook for CIEN is bullish. Fresh long should be made only when the stock closes above $13.07 ( 50-day moving average ) with an up candle. We need a consistent move above this level to continue the bullish scenario testing $14.03 ( 200 dma ).

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The stock had a significant bullish momentum on Friday and now back above $7.58. The bias is bullish in nearest term and the major bullish scenario remains intact. The technical chart above shows this is just the beginning of the rally for Motorola as %K line is just in the mid way after it crossed on top of %D line early this week. Resistance is now $7.75, which was Friday’s high of the day. Once MOT breaks through this resistance area, we should see an increase in volume as the stock moves higher. Keep a close eye on the stock for the follow through move on Monday.

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I've been looking at GNBT for a possible breakout candidate. And the chart above of the stock was one that I analyzed last week. From my point of view, there are solid and consistent buyers here. GNBT's chart suggest that increased buy side activity could push share prices to much higher levels. The stock has pulled back to support on low volume, generally this represents a good buying opportunity. The short-term outlook for GNBT appears positive. The stock could touch an upside target of $.60 in the medium term. Existing holders could remain invested. The bias is bullish in nearest term. A close above $.491 (200-day moving average ) would impart bullishness and would help the stock move to the $.58-$.60 band. There is a lot of upside potential in GNBT, so keep watching for the breakout move.

Other stocks to watch :

New 52-week High stocks

PAR - 3PAR Inc
NZ - Netezza Corp
ARUN - Aruba Networks Inc
SLW - Silver Wheaton
MCD - MCDONALDS CORP
EGO - ELDORADO GOLD CP
NI - NISOURCE INC
SO - SOUTHERN CO
FTNT - Fortinet Inc
ARST - ARCSIGHT INC
CMS - C M S ENERGY CORP
RVBD - Riverbed Technology
RHT - Red Hat, Inc.
CB - CHUBB CORP
PCG - P G & E CORP HLDG CO
CPB - CAMPBELL SOUP CO
HS - HEALTHSPRING INC
MCRS - MICROS Systems, Inc.
CVLT - CommVault Systems Inc
FOSL - Fossil, Inc.
IT - GARTNER GROUP INC
FRG - Fronter Gold Inc
WEC - WISCONSIN ENERGY CORP
ARG - AIRGAS INC
PNW - PINNACLE WEST CAP CORP
QSFT - Quest Software, Inc.

New 52-week Low stocks

BAC - BANK OF AMERICA CORP
INTC - Intel Corporation
CSCO - Cisco Systems, Inc.
HPQ - HEWLETT-PACKARD CO
UNG - United States Natur
AMAT - Applied Materials
RIMM - Research in Motion
STX - Seagate Tech
SCHW - Charles Schwab Corp
CVS - CVS Caremark Corp
YHOO - Yahoo! Inc
GPS - GAP INC
JCG - J CREW GROUP INC
WDC - WESTERN DIGITAL CORP
IP - INTERNATIONAL PAPER CO
IMGN - ImmunoGen, Inc.
VLO - VALERO ENERGY CORP NEW
SPLS - Staples, Inc.
BBY - BEST BUY CO INC
HIG - Hartford Financial
NSM - NATIONAL SEMICONDUCTOR
AMGN - Amgen Inc.
ASML - ASM Lithography Hol
HRB - BLOCK H & R INC

The following list show stocks whose share price crossed above its 13-day moving average

PWER - Power-One, Inc.
BMY - BRISTOL MYERS SQUIB
VMED - Virgin Media Inc
COF - CAPITAL ONE FNCL CORP
CSX - C S X
TJX - TJX COMPANIES INC
EXC - EXELON CORPORATION
NBG - NATIONAL BANK OF GREECE
DHR - DANAHER CORP
NXY - Nexen Inc
MBT - MOBIL TELESYSTEMS
MCHP - Microchip Technology
FCS - FAIRCHILD SEMICONDUCTOR
OHI - OMEGA HEALTHCARE IN
XEC - Cimarex Energy Co
EBR - Centrais Eletricas
HW - Headwaters 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.

Well, have a great weekend.

Your Fellow Trader,
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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