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Saturday, December 03, 2011 

Some possible bounce plays to watch next week

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The company on the spotlight today is XenoPort, Inc., a biopharmaceutical company focused on developing and commercializing a portfolio of internally discovered product candidates, which utilizes the body’s natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs.  The stock on Friday surged 5% or 23 cents to $4.83 per share at two times average volume after the company announced that has received confirmation from its partner, Astellas Pharma Inc., that, following a meeting on December 2, 2011 in Japan, the drug evaluation committee of the Japanese Ministry of Health, Labor and Welfare ("MHLW") recommended approval of gabapentin enacarbil, which will be known by the trade name Regnite in Japan, for the treatment of Restless Legs Syndrome. This positive recommendation will be reviewed by the MHLW prior to its final decision on authorizing the marketing of Regnite in Japan for the treatment of Restless Legs Syndrome. The MHLW will issue a final notification to Astellas regarding its decision, which the Company expects to occur in the first quarter of 2012.

Lets take look at the stock in more detail to see if this is the stock worth buying. XNPT is trading above its 13-day moving average and is approaching its 50-day moving average. A strong bullish trend is often established once shares cross the 50-day MA. The stock has witnessed phenomenal gains in valuation when volume enters. For example, in August shares of XNPT experienced a surge of over 38% in just 5 days !! So, with an influx of volume and light resistance above, the stock could make a solid upward move. There has been building support on shares of XNPT in the past few days with overall higher highs and higher lows, and I believe that from current levels which I believe are now trading at a deep discount from the past investors could witness a solid appreciation in value.

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Accuray Incorporated (NASDAQ:ARAY) close the week above its 50-day MA and has broken above its small consolidating range with rising volumes. MACD triggered a buy signal this week also moving slightly near the 0 line. The MACD looks bullish moving higher. The 20 DMA upward cross through the 50 DMA is bullish. The setup indicates that the stock has ample scope to move up.

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Novatel Wireless, Inc. (NASDAQ:NVTL) - The daily MACD triggered a Buy signal on Friday and the Histogram turned positive on the daily. The stock needs to take out resistance at the 3.25 area to continue higher. It needs more time to set up again. Keeping it on the list.

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TriQuint Semiconductor (NASDAQ:TQNT) nice follow through. From the technical chart MACD and KD both signal positive strength. Looking at the insider transaction I see one recent acquisition of 100,000 shares at a cost of $4.31 from the Director Steven Sharp showing the management is bullish of the company's outlook ( Yesterday I alerted my followers on twitter) . In the past twelve months, 2 other insiders purchased shares, in 5 transactions, for a total cost of $179,656 at an average of $4.73 per share. 

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A closer look at the technical chart shows the stock broke out of a well defined descending channel formation dating back to November 14th on heavy volume. Poised to run higher. Next line of resistance $1.91 range. Furthermore, based upon watching the trading activity on Friday, I believe that the positive sentiment could be additional reason for investors to look for higher prices and confirmation of an upward trend reversal.

I encourage everybody to subscribe my twitter and newsletter, so you can receive my trade ideas and stock news in real time.

Other stocks to watch :
 
New 52-week High stocks 
 
HD - HOME DEPOT INC
KOG - KODIAK OIL & GAS CP
M - FEDERATED DEPARTMENT
IBM - INTERNATIONAL BUSINESS
TSN - TYSON FOODS INC
MCD - MCDONALDS CORP
SE - SPECTRA ENERGY CORP
V - VISA Inc
TJX - TJX COMPANIES INC
WYN - Wyndham Worldwide WI
COST - Costco Wholesale Co
FTI - FMC Technologies Inc.
HUM - HUMANA INC
FAST - Fastenal Company
NSR - NEUSTAR INC
OCR - OMNICARE INC
VRSK - Verisk Analytics
GRMN - Garmin Ltd
SPPI - Spectrum Pharmaceutical
IDIX - Idenix Pharm
AKRX - Akorn, Inc.
EXR - EXTRA SPACE STORAGES
EPD - ENTERPRISE PRODUCTS
GPC - GENUINE PARTS CO
PETM - PETsMART, Inc.
OKE - ONEOK INC
MA - MASTERCARD INCORPORATION
ROST - Ross Stores, Inc.
OII - OCEANEERING INTL INC
PAA - PLAINS ALL AMERICAN
AWK - American Water Work
ACGL - Arch Capital Group Ltd
INT - WORLD FUEL SVCS CORP
MDVN - Orion Acquisition C
PCYC - Pharmacyclics
ARG - AIRGAS INC
FCN - FTI Consulting Inc
CLB - CORE LABORATORIES N V
DPZ - DOMINO'S PIZZA INC
BGS - B&G Foods Inc
MDF - Metropolitan Health
GPI - GROUP I AUTOMOTIVE INC
LAD - LITHIA MOTORS INC
GWW - WW Grainger Inc
TASR - TASER International
YRCWD - Yellow Roadway
FICO - Fair Isaac Inc
 
Unusual Volume

RIMM - Research in Motion
MDT - MEDTRONIC INC
ORI - OLD REPUBLIC INTL CORP
KIWB - Magnitude Information
DISH - Dish Network A
CBIS - National Healthcare
HRB - BLOCK H & R INC
CFW - CANO PETROLEUM INC
BIG - Big Lots Inc
SONS - Sonus Networks, Inc.
RBY - RUBICON MINERALS CP
FTWR - FiberTower Corp
UGI - U G I CORP HLDG CO
FIG - Fortress Investment
GIL - GILDAN ACTIVEWEAR INC
PVH - PVH Corp
SIRG - Sierra Resource Group
ZUMZ - ZUMIEZ INC
TLB - TALBOTS INC
BLVT - Bulova Technologies
KT - KOREA TELECOM CORP
NM - Intl Shipping Entr
HRL - HORMEL FOODS CORP
ATO - ATMOS ENERGY CORP
FROI - Fero Industries Inc
GRPR - Grid Petroleum Corp
VISN - VisionChina Media Inc
AGUNF - ARCTIC GLACIER TR UT
SUSS - Susser Holdings Corp
NSR - NEUSTAR INC
ZZ - SEALY CORPORATION
ALEX - Alexander & Baldwin
ACYD - AMERICAN COMMUNITY
URBF - Urban Barns Foods
IVAN - Ivanhoe Energy Inc
UVV - UNIVERSAL CORP
SNGX - DOR BioPharma Inc
ZOOM - Zoom Telephonics, Inc.
TRGP - Targa Resources Corp
MITL - Mitel Networks
AEN - Pipex Pharmaceutical
FAC - LIBERTE INVESTORS DE
TEA - Teavana Holdings Inc
CLGL - California Gold Corp
BRC - BRADY CORP
ABM - A B M INDUSTRIES INC
BMGP - IBISES INTL INC
NNVC - NANOVIRICIDES INC
WABC - Westamerica Bancorp
YNGFF - Yukon-Nevada Gold Corp
ASTX - SuperGen, Inc
SBRCY - SBERBANK RUSSIA
MAMM - Mammatech Corp
INO - Inovio Pharm Inc
SRCH - Phage Genomics 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.

Thanks for visiting AC Investor Blog.

AC

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I actually work in the semi-conductor industry myself, and already own TQNT. I am not a technical analyst, but TQNT is a solid company and I'd be more than thrilled if there is indeed a abounce this week!

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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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