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Friday, October 14, 2011 

Five symbols with good bullish setups to trade next week

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Shares of Novatel Wireless, Inc. (NASDAQ:NVTL) traded nicely on Friday and I’m looking for continuation of the upward direction next week. The stock surged 8% or 26 cents to $3.44 per share after a report on Seeking Alpha, from analyst Rougemont identifing the company as a possible takeover candidate. Rougemont says "This stock looks cheap in terms of book value, which is $5.03. Also, the company has about $58 million in cash on the balance sheet with no debt. That is equivalent to about $1.81 per share in cash. A major wireless company might find Novatel worthy of an acquisition". From a technical standpoint, the chart shows that the stock is in a rally as %K line is rising on top of %D line as the price is back above 50-day moving average. Positive MACD action. The RSI is also rising along with the rise in volumes indicates buying interest in the stock. In addition, the stock seems to have broken out on the upside from a descending channel pattern and probably might target its 100-day sma around $4.29 or so. I would like to remember that NVTL is also a short squeeze candidate, with a short float at 12% (equivalent to 11 days of average volume). Can get interesting. Keep close eye on this one for a major rally to the upside.

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Ciena Corporation (NASDAQ:CIEN) seems to have broken out of a major horizontal resistance that targets a move to $14.35 in the stock. This stock could be a good short squeeze opportunity on any positive news. Ciena has good upside potential, so keep watching the stock for further moves.
 
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Apple Inc. (NASDAQ:AAPL) is poised to retest its 52 week high of $422.86. The technical chart above shows the stock is in a very strong bull market as MACD is high above signal line and % K line is also on top over % D line. In addition, the long term trend is bullish as the stock is on top of both 50-day SMA and 200-day SMA with both movine averages going up.
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BioMimetic Therapeutics, Inc. (NASDAQ:BMTI) traded slightly higher on Friday as the stock hit a high of $3.12 on the day. This high is resistance for Monday’s continuation move, which could have good upside potential. I'm watching the stock very closely as this can be a good trading stock, but it will move quickly. From a technical standpoint the stock looks to have built a base and wants to make an upside move. You want to keep BMTI on your screen for Monday’s trading.

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Research In Motion Limited (NASDAQ:RIMM) - The 2 hour chart is showing a range from 22.60-24.70. Needs to break out either side to see significant moves.

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Other stocks to watch :


US Earnings Calendar for Monday, October 17

American National Bankshares Inc - AMNB
Ameris Bancorp - ABCB
Bank Mutual Corp - BKMU
Beneficial Mutual Bancorp Inc - BNCL
Bona Film Group Ltd - BONA
Brown & Brown Inc - BRO
Charles Schwab Corp - SCHW
Citigroup Inc - C
CJ CGV Co LtdCommunity West Bancshares - CWBC
Cybex International Inc - CYBI
Dearborn Bancorp Inc - DEAR
Delta Air Lines Inc - DAL
Digimarc Corp - DMRC
Elmira Savings Bank FSB - ESBK
Enterprise Bancorp Inc - EBTC
Equity Lifestyle Properties Inc - ELS
Farmers Capital Bank Corp - FFKT
Fidelity Southern Corp - LION
First Capital Inc - FCAP
First Community Corp - FCCO
First Horizon National Corp - FHN
First South Bancorp Inc - FSBK
Gannett Co Inc - GCI
Green Bankshares Inc - GRNB
Greenhill & Co Inc - GHL
Halliburton Co - HAL
Hanwha Securities Co Ltd Financial Corp - HARL
Hasbro Inc - HAS
Heartland Express Inc - HTLD
Hingham Institution for Savings - HIFS
Honam Petrochemical CorpHorizon Bancorp - HBNC
Hyundai Engineering & Construction Co LtdHyundai Pharmaceutical Co LtdICU
Medical Inc - ICUI
InsWeb Corp - INSW
International Business Machines Corp - IBM
Jacksonville Bancorp Inc - JXSB
Korea Express Co LtdKorea Zinc Co LtdKOSS Corp - KOSS
LCNB Corp - LCNB
Lincare Holdings Inc - LNCR
McMoRan Exploration Co - MMR
Mgic Investment Corp - MTG
Microfinancial Inc - MFI
Mid Penn Bancorp Inc - MPB
MSC Industrial Direct Co Inc - MSM
Naugatuck Valley Financial Corp - NVSL
New England Bancshares Inc - NEBS
New Hampshire Thrift Bancshares Inc - NHTB
Newport Bancorp Inc - NFSB
Northeast Bancorp - NBN
Oak Valley Bancorp - OVLY
Old Point Financial Corp - OPOF
Pacific Continental Corp - PCBK
Packaging Corp Of America - PKG
Park National Corp - PRK
Qiao Xing Universal Resources Inc - XING
Renaissance Learning Inc - RLRN
Rocky Brands Inc - RCKY
RPX Corp - RPXC
SK InnovationSouthwest Georgia Financial Corp - SGB
Stanley Black and Decker Inc - SWK
Steel Dynamics Inc - STLD
Taylor Capital Group Inc - TAYC
Tel Instrument Electronics Corp - TIK
Tessco Technologies Inc - TESS
United Continental Holdings Inc - UAL
United Security Bancshares - UBFO
VMware Inc - VMW
WD 40 Co - WDFC
Wells Fargo & Co - WFC
Western Alliance Bancorporation - WAL

New 52-week High stocks
 

OPK - Opka Health
NUAN - Nuance Communications
AMZN - Amazon.com, Inc.
SBUX - Starbucks Corporation
IBM - INTERNATIONAL BUSINESS
UN - UNILEVER N V
NDN - 99 CENTS ONLY STORES
NETL - Netlogic Microsystems
MAKO - MAKO SURGICAL CORP
CELG - Celgene Corporation
BBBY - Bed Bath & Beyond Inc.
AGN - ALLERGAN INCORPORATED
STR - QUESTAR CORP
HANS - Hansen Natural Corp
QCOR - Questcor Pharm
THOR - Thoratec Laboratories
VSEA - Varian Semiconductor
LKQX - LKQ CP
SIMO - SILICON MOTION TECHN
STAA - STAAR Surgical Company
GCO - GENESCO INC
STMP - Stamps.com Inc.
SAFM - Sanderson Farms, Inc.
OKS - Oneok Partners
TYL - TYLER TECHNOLOGIES INC

MACD Bullish Cross

S - Sprint Corp FON Group
BSX - BOSTON SCIENTIFIC CORP
MU - Micron Technology
UNG - United States Natural
KOG - KODIAK OIL & GAS CP
USU - USEC INC
EK - EASTMAN KODAK CO
NEM - NEWMONT MINING CORP
WIN - Windstream Corp
MDT - MEDTRONIC INC
XCO - EXCO RESOURCES INC
SPN - SUPERIOR ENERGY SVC
TIVO - TiVo Inc.
AVGO - Avago Technologies
GBG - Great Basin Gold Ltd
GFI - GOLD FIELDS LTD
SNH - SENIOR HOUSING PROP
PDLI - PDL BioPharma
BMC - BMC Software Inc
AEE - AMEREN CORP
CSDT - CASCADE TECHNOLOGIES
KMB - KIMBERLY CLARK CORP
NRTLQ - NORTEL NETWORKS CORPORATION
CAH - CARDINAL HEALTH INC
SVNT - SAVIENT PHARMS
NU - NORTHEAST UTILITIES
FTWR - FiberTower Corp
AEM - AGNICO EAGLE MINES LTD
IRM - IRON MOUNTAIN INC
PRRY - American BioDiesel
ENER - Energy Conversion D
HTS - Hatteras Financial
NOG - Northern Oil and Gas
REXX - Rex Energy Corp
EQY - Equity One Inc
GEO - WACKENHUT CORRECTIONS
GTXI - GTX INC
SHMX - Aultra Gold
BRD - APOLLO GOLD CP
CMO - CAPSTEAD MORTGAGE CORP
ALSK - Alaska Communication
VVUS - Vivus, Inc.
SRRL - Stellar Resources Ltd
LSTZA - Liberty Media Corp

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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