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Thursday, April 07, 2011 

Bullish Stocks to Watch Friday

 ( click to enlarge )

Rare Element Res Ltd (AMEX:REE) looks strong enough to move forward. As expected, the stock broke up through the resistance at $13.85 on huge volume of over 1.202 Million shares. At this stage, further rally is still possible in next several days. The breakout signals a continuation of the prior advance. Bulls have the near-term technical advantage and gained fresh upside momentum today.  Next resistance levels to watch are $15.95 and $17.92. The stock has the potential for a strong follow through, so watch it closely on Friday.

 ( click to enlarge ) 

It is clear that Ford Motor Company (NYSE:F) wants to move higher again, but too much caution right now. The stock reacted to the $16 mark over the last two trading sessions and has suffered a small correction as shown in the chart above. Back above $16 would revive the bullish case and open the way for further gains towards $16.55 in the first instance. Short term support for the stock is in the $15.23 to $15 region. While the stock price is correcting there are no clear signs of a top forming in the daily charts as of yet. Indicators are favoring longs with both positive momentum indicator and positive MACD above the zero line. A move above $16.51 would mark a medium-term breakout. Long-term investors can hold Ford with a stop at $14.40.
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Elan Corporation, plc (NYSE:ELN) continues to move higher and it still looks strong on its daily chart. I raised resistance to $8.26,  which was the high of April 2010. Technically, the stock has broken all medium term resistances and appears strong. ELN is now on the overbought level, so this means a possible correction is near. This may give us a chance to jump in on the stock when it moves lower. ELN is a stock to keep an eye on for awhile.

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Other stocks to watch :

Unusual volume in today's trading session  

LGTT - LIGATT Security International, Inc.
XNPT - XENOPORT
ELTP - Elite Pharmaceutica
BLOAQ - Blockbuster Inc
SINX - Sionix Corp
ATWT - ATWEC Technologies, Inc.
MDFI - Medefile International, Inc.
STHG - Stratton Holdings Inc.
AVL - Avalon Rare Metals Inc.
EXPR - Express Inc
BBBY - Bed Bath & Beyond Inc.
PIR - Pier 1 Imports Inc
ELN - ELAN CORP P L C
AMSC - American Superconductor
RT - RUBY TUESDAY INC GA
ISIL - Intersil Holding Co
PSRU - PureSpectrum, Inc.
SDVI - Signature Devices, Inc.
MDRX - Allscript Health
CZZ - Cosan Limited Cl A
IL - Intralinks Holdings
CCAA - Cala Corporation
HRZ - HORIZON LINES INC
XOMA - XOMA Ltd.
IMGN - ImmunoGen, Inc.
OCZ - OCZ Technology Group
PUDA - Puda Coal Inc
CXZ - Cross Exp Mining
MSGI - MSGI Security
BEAV - BE Aerospace, Inc.
INHX - Inhibitex
EEGC - Empire Energy Corp
ORCH - Orchid Cellmark Inc
ALIF - Artificial Life Inc.
LJPC - La Jolla Pharma

New 52-week high stocks

MCP - Molycorp Inc
EXPR - Express Inc
BBBY - Bed Bath & Beyond Inc.
PIR - Pier 1 Imports Inc
ELN - ELAN CORP P L C
LTD - LIMITED INC
ERIC - LM Ericsson Telepho
HUN - HUNTSMAN CORPORATION
MPEL - Melco Crown Adr
COST - Costco Wholesale Co
UNH - UNITEDHEALTH GROUP INC
IMGN - ImmunoGen, Inc.
BHP - BHP Billiton Ltd
ANF - ABERCROMBIE & FITCH CO
IR - INGERSOLL RAND CO
EXK - ENDEAVOUR SILVER
OCZ - OCZ Technology Group
TJX - TJX COMPANIES INC
ERTS - Electronic Arts Inc.
CDNS - CADENCE DESIGN SYS INC
MCO - Moody's Corp
RPM - R P M INC
AON - AON CORP
HMY - HARMONY GOLD MINING
CPN - Calpine Corp
SMOD - SMART MODULAR TEC
FL - Foot Locker Inc
WSM - WILLIAMS SONOMA INC
CNO - Cno Fnancial Grp
COO - COOPER COS INC NEW
UTX - UNITED TECHNOLOGIES
BKE - Buckle Inc
UNM - UNUM GROUP
PDS - Precision Drilling
ADP - Automatic Data Process
LPSN - LivePerson, Inc.
PGH - Pengrowth Energy
ENDP - Endo Pharmaceutical
TMX - TELEFONOS DE MEXICO
MRX - MEDICIS PHARM CORP
CBST - Cubist Pharmaceutical
MWV - MEADWESTVACO CORP
SCI - SERVICE CORPORATION
HANS - Hansen Natural Corp
FNB - F.N.B. Corporation
PDC - Pioneer Drilling Co
FMCN - Focus Media Hldg
NTES - Netease.com, Inc.
ISRG - Intuitive Surgical
OLN - OLIN CORP
MAKO - MAKO SURGICAL CORP
CAR - Avis Budget Group Inc
ARW - ARROW ELECTRONICS INC
VRUS - Pharmasset Inc
MASI - Masimo Corp
JAZZ - Jazz Pharmaceutical
CHKP - Check Point Software
MTZ - MASTEC INC
GNC - Gnc Holdings
ASNA - Ascena Retail Group
LSTR - Landstar System, Inc.
PRXL - PAREXEL International
FINL - Finish Line, Inc.
VAL - VALSPAR CORP
DHX - Dice Holdings Inc
DXCM - DEXCOM
WCG - WELLCARE HEALTH
RE - Everest Re Group Ltd
RVI - VALUE CITY DEPT STORES
RCII - Rent-A-Center Inc.

Earnings Announcements for Friday

AspenBio Pharma Inc - APPY
Blyth Inc - BTH
China Education Alliance Inc - CEU
Community Central Bank Corp - CCBD
Gencorp Inc - GY
Metalink Ltd - MTLK
PriceSmart Inc - PSMT
Reachlocal Inc - RLOC
Seven Arts Pictures PLC - SAPX
Westwood One Inc - WWON

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.  

Thanks for visiting AC Investor Blog.

AC

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  • I'm a 38 year old Independent Trader using propriety 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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