Stocks to watch on Tuesday, August 30
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PriceSmart, Inc. (NASDAQ:PSMT) is ready for a possible rally if breakout key resistance level of $62.27 with big volume. The MACD Histogram is back in positive territory and the stock price is above the 50 and 200 moving averages. Stay tuned.
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Ciena Corporation (NASDAQ:CIEN) has made an awesome move on Monday breaking out its resistance level. Plenty of room to upside.
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Technical chart is showing some bullish signal in its early stage. Tellabs, Inc. (NASDAQ:TLAB) has been trading on a downward slope since January. Recently, though, it is showing some signs of a possible reversal. The chart is now much improved after today’s action. The MACD has reversed again the course and stock closed above its 20-day moving average. If the stock can break through its 50 SMA at $4.12, I expect to see another strong upside move.
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I told you on Saturday about FormFactor, Inc. (NASDAQ:FORM) and today the stock successfully broke the resistance at $8.25 with unusual volumes. This is a very bullish development. Short-term technical indicators are strong and the MACD on the daily chart recently produced a new buy signal. If the stock can break today’s high of $8.34, we should see a strong follow through move. FORM will move very quickly, so keep a very close eye on the stock.
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We finally got the breakout in Novavax, Inc. (NASDAQ:NVAX). Shares rallied past resistance of $1.47 and hit my trigger to open positions. Watch the $1.75 as potential resistance. Let's keep an eye on NVAX as i think momentum will pick up.
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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.
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AC
Labels: CIEN, FORM, PSMT, TLAB
