Oversold stocks ready to bounce back
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Trina Solar Limited (NYSE:TSL) closed with an impressive gain of 93 cents (16%) to end the day at $6.51 after falling about 5% earlier in the session. TSL is still in weak market with 50-day moving average below 200-day moving average. But with rising KD and stablizing stock price we may see some positive movement coming soon. The stock has to break the pressure at 13-day moving average.
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What a great trading session for FormFactor, Inc. (NASDAQ:FORM). The stock ended the day at $6.60, up 63 cents (10%) on no news after hitting a new 52-week low of $5.91 earlier in the session. This creates a bullish scenario for tomorrow, one in which the stock opens the day a few ticks higher and then continues its rally. The October $7 call options have been active. I don't see much downside in FORM and expect a move to $7 area soon. The technial chart shows the stock bounced back as ROC was at oversold level. Now with %K line on top over %D line we could see rally coming.
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Canadian Solar Inc. (NASDAQ:CSIQ) has made a huge decline the past weeks and looks like a strong squeeze could be in play as price has reacted very well to its long-term support line at $3.
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THQ Inc. (NASDAQ:THQI) continues being a victim of the bad environment in the tech sector that clearly are penalizing all companies more vulnerable of a possible global slowdown. I still reading a lot of comments given by some credible analysts regarding the actual share price of this stock and the extreme drop that has suffered, however there is no indications yet that the bottom has started to be formed but I still believe in a rebound from this level due to the high oversold conditions. The stock fell hard on Tuesday, but managed a bounce in late trading. Because of this, it has formed a hammer-shaped candle on the daily chart. The breaking of Tuesday’s highs would be a buy signal.
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Shares Novatel Wireless, Inc. (NASDAQ:NVTL) surged 9% to $3.18 per share. With ROC still showing the stock is slightly oversold the stock should be able to keep climbing up.
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Other stocks to watch :
US Earnings Calendar for Wednesday, October 5
Acuity Brands Inc - AYI
Ameron International Corp - AMN
Christopher & Banks Corp - CBK
Costco Wholesale Corp - COST
EasyLink Services International Corp - ESIC
Freeseas Inc - FREE
Marriott International Inc - MAR
Monsanto Co - MON
National American University Holdings Inc - NAUH
Ocz Technology Group Inc - OCZ
Qiao Xing Universal Resources Inc - XING
Recon Technology Ltd - RCON
Richardson Electronics Ltd - RELL
Rosetta Genomics Ltd - ROSG
RPM International Inc - RPM
Ruby Tuesday Inc - RT
Skyline Corp - SKY
Village Super Market Inc - VLGEA
The following list show stock whose MFI (15) have been increasing over the last 2 sessions
GE - GENERAL ELECTRIC CO
JPM - JP Morgan and Co Inc
NWSA - News Corp Ltd pf
GLW - CORNING INC
BMY - BRISTOL MYERS SQUIB
XRX - XEROX CORP
WMT - Wal-Mart Stores Inc
VOD - Vodafone Gp Plc
X - U S X-U S STEEL GRO
KFT - KRAFT FOODS INC
COP - ConocoPhillips
CVX - Chevron
PM - Philip Morris International
CAT - Caterpillar Inc
VLO - VALERO ENERGY CORP NEW
MRO - U S X-MARATHON GROUP
AUY - YAMANA GOLD INC
PEP - PEPSICO INC
SONE - S Corporation
HL - HECLA MINING CO
PCX - Patriot Coal Corp
BP - BP AMOCO ADS -
GNW - GENWORTH FINCL INC
AXP - AMERICAN EXPRESS CO
GT - GOODYEAR TIRE & RUB
KGC - KINROSS GOLD CORP
BRCM - Broadcom Corporation
EMR - EMERSON ELECTRIC CO
KR - KROGER CO
MT - Arcelormittal
GS - GOLDMAN SACHS GROUP
JCI - JOHNSON CONTROLS INC
AES - A E S CORP
NEM - NEWMONT MINING CORP
ABX - BARRICK GOLD CORP
DHI - Horton DR Inc
GG - GOLDCORP INC
BBT - BB&T CORPORATION
TEVA - Teva Pharmaceutical
CCE - Coca Cola Ent
DHR - DANAHER CORP
STD - BANCO SANTANDER CEN
SLW - Silver Wheaton
TOT - Total Sa
ADM - ARCHER DANIELS MIDL
UPS - UPS
HES - AMERADA HESS CORP
BCS - BARCLAYS P L C
TEF - TELEFONICA SA
CIEN - CIENA Corporation
SVM - Silvercorp Metal
GIS - GENERAL MILLS INCORPORATION
SWY - SAFEWAY INC
KBE - SPDR KBW BNK
MCP - Molycorp Inc
A - Agilent Technologie
CPB - CAMPBELL SOUP CO
TEX - TEREX CORP
NGD - DRC RESOURCES CP
DB - DEUTSCHE BANK AG
CREE - Cree Inc
DVN - Devon Energy Cp
COV - Covidien Plc
TSL - Trina Solar Ltd -
AMTD - TS Ameritrade Holdings
HRB - BLOCK H & R INC
VRX - Valeant Pharmaceutical
MWW - Monster Worldwide Inc
ING - Ing Groep NV ADR
AVP - AVON PRODUCTS INC
HBC - HSBC Holdings PLC
LEN - LENNAR CORP
JWN - NORDSTROM INC
NE - NOBLE DRILLING CORP
BHP - BHP Billiton Ltd
UN - UNILEVER N V
DF - DEAN FOODS INC
EGO - ELDORADO GOLD CP
ETN - EATON CORP
RVBD - Riverbed Technology
MTL - MECHEL OAO
UNP - UNION PACIFIC CORP
PCAR - PACCAR Inc
TWC - Time Warner Cable Inc
LO - Lorillard Inc
DRI - DARDEN RESTAURANTS INC
CELG - Celgene Corporation
VRSN - VeriSign Inc
NG - NOVAGOLD RESOURCES INC
SAI - SAIC INC
MBT - MOBIL TELESYSTEMS
NYX - NYSE EURONEXT INC
SNY - Sanofi
CVC - CABLEVISION SYSTEMS
GFA - Gafisa SA
AOL - AOL Inc
KWK - Quicksilver Resources
HMY - HARMONY GOLD MINING
ECL - ECOLAB INC
PDS - Precision Drilling
AGO - ASSURED GUARANTY LTD
SGEN - Seattle Genetics
TS - Tenaris SA
ELN - ELAN CORP P L C
RAI - RJ Reynolds Tobacco
NXY - Nexen Inc
LBTYA - Liberty Global Inc
NVS - NOVARTIS A G
SHO - SUNSTONE HOTEL INVE
VSH - Vishay Intertechnology
MDTH - MedCath Corporation
CAR - Avis Budget Group Inc
AUQ - GAMMON GOLD
SUN - SUNOCO INC
PBI - PITNEY BOWES INC
ZMH - ZIMMER HOLDINGS INC
HNZ - HEINZ H J CO
NFX - NEWFIELD EXPLORATION
PH - PARKER HANNIFIN CORP
FTNT - Fortinet Inc
FTI - FMC Technologies Inc
ABB - ABB LTD
EXK - ENDEAVOUR SILVER
PLL - PALL CORP
NBL - NOBLE AFFILIATES INC
GD - GENERAL DYNAMICS CORP
CINF - Cincinnati Financial
BLL - BALL CORP
MDCO - Medicines Company
TEL - Te Connectivity
ARCC - ARES CAPITAL CP
NLC - NALCO HOLDING CO
NAV - NAVISTAR INTL CORP
ITT - ITT Corp
AEM - AGNICO EAGLE MINES LTD
SLXP - Salix Pharmaceutical
ROVI - Macrovision Corporation
COG - CABOT OIL & GAS CORP
KBR - KBR Inc
SODA - SodaStream International
OPEN - Opentable Inc
SAPE - Sapient Corporation
FTE - France Telecom ADS
RY - ROYAL BANK OF CANADA
BMO - BANK OF MONTREAL
ACOM - Ancestrycom Inc
LEA - Lear Corporation
OCR - OMNICARE INC
CLI - MACK CALI REALTY CORP
UL - Unilever PLC
QLGC - QLogic Corporation
SLT - Sterlite Industries
PVH - PVH Corp
WCN - Waste Connections Inc
ACM - Aecom Technology Corp
MGA - MAGNA INTL INC CL A
CLD - Cloud Peak Energy Inc
ZAGG - Zagg Inc Cs
DLB - DOLBY LABORATORIES INC
LOGI - Logitech International
PHG - Koninklijke Philips
PDC - Pioneer Drilling Co
CBE - Cooper Inds Plc
ELX - Emulex Corporation
DPZ - DOMINO'S PIZZA INC
ATW - ATWOOD OCEANICS
CIE - Cobalt International
CTCM - CTC MEDIA INC
SPPI - Spectrum Pharmaceutical
ALV - AUTOLIV INC
QCOR - Questcor Pharm
TUP - Tupperware Brands
OGE - O G E ENERGY CORP
MRX - MEDICIS PHARM CORP
DV - DEVRY INC
HRL - HORMEL FOODS CORP
GOLD - RANDGOLD RESOURCES
LAZ - LAZARD LTD
MAKO - MAKO SURGICAL CORP
SI - SIEMENS A G ADR
ANV - Allied Nevada Gold
BCR - BARD C R INC
TRP - Transcanada Corp
ICON - Candie's Inc
TKLC - Tekelec
KMI - Kinder Morgan Inc
IBKR - Interactive Brokers
WCG - WELLCARE HEALTH
WTI - W&T OFFSHORE INC
CPO - CORN PRODUCTS INTL INC
ACGL - Arch Capital Group Ltd
CLS - CELESTICA INC
DRIV - Digital River Inc
SONC - Sonic Corp
ALGN - Align Technology Inc
TRGT - Targacept Inc
MOH - Molina Healthcare
KNX - Knight Transportation
TZOO - Travelzoo Inc
MTZ - MASTEC INC
MHK - MOHAWK INDS INC
SPWRA - SUNPOWER CORPORATION
VC - Visteon Corp
KND - Kindred Healthcare
FY - KORN FERRY INTL
EXAS - Exact Sciences
DTLK - Datalink Corporation
IRDM - Iridium Comm Inc
VOLC - VOLCANO CORPORATION
IFSIA - Interface Inc
ODFL - Old Dominion Freigh
TITN - Titan Machinery 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.
As always, good luck !
AC
