Stocks on watch for next week

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Novatel Wireless, Inc. (NASDAQ:NVTL) was one of the winners on Friday. The stock closed just below the high of the day which tells us there were buyers in the stock all day. This is a strong sign moving forward. The major technical indicators are looking better now for the stock. Looking at the technical chart the stock has just entered into a short-term bull market as the stock is on top of 13-day and 20-day moving averages. Other technical indicator such as MACD, is showing positive momentum while KD line also show buy signal as %K line is on top of %D line. Technically speaking the stock is now painting a short-term Bullish picture. Next resistance lies only at $3.33.

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Sourcefire, Inc. (NASDAQ:FIRE) broke out on Friday and made a new 52-week high of $35.90. I'm keeping FIRE on the list for the continuation move. The stock had big buyers in it all day and looks ready to make another move on Monday. The technical chart shows a continuation of the trend with MACD and RSI in the Bullish areas. Watch the stock closely next week and once it breaks $35.90, get ready to jump in and buy the stock.

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Last week, Generex Biotechnology Corporation (NASDAQ:GNBT) had a huge rally of about 70% on heavy volume. The stock is displaying a strong upside momentum again. Nearest resistance for the stock is at $.16 ( 200-day MA ). If this level is crossed and the stock is able to sustain above this level, then it might go to $.22. On the downside, the stock has support at $.12. The stock is currently in a new uptrend. The technical daily chart is showing a strong bullish bias. On Balance Volume is increasing, indicating accumulation of shares in the market and KD line is indicating upward swing. Watch GNBT closely on Monday. I feel this stock will easily make a strong move to the upside on any positive news.

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Oclaro, Inc. (NASDAQ:OCLR) had a slightly bullish day on Friday again but the price is struggling around the 20-day MA line resistance. Consistent move above $2.90 ( the trend line resistance ) could be a beginning of a new technical bullish reversal at least testing 3.3/3.40 area. Immediate support is at 2.78 followed by 2.68.

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The outlook for Elan Corporation, plc (NYSE:ELN) is positive and a move to 12.07-12.20 appears likely. The positive outlook would be in force as long as the stock remains above the 50-day moving average. Remain invested with a stop-loss at $11.06. The technical daily chart show a continuation of the trend with MACD and RSI trending upwards.

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I've mentioned Zalicus, Inc. (NASDAQ:ZLCS) for the bulls out there. I stand by this position. It looks like it is starting to turn back up and indicators are giving the first bullish signs. I am looking to see this stock re-test its October highs shortly. The OBV is increasing and the stock price has regained its position above the 50-day MA. The nearest trend is in favour of Bulls and ZLCS has room to go higher. If the stock can break through $1.25, we should see strong volume drive the stock higher. You need to watch the stock closely because it could break resistance soon.

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Other stocks to watch :

New 52-week High stocks

RRR - RSC Holdings Inc
MO - ALTRIA GROUP
BMY - BRISTOL MYERS SQUIB
DUK - DUKE ENERGY CORP
LLY - LILLY ELI & CO
HEK - Heckmann Corp
XEL - XCEL ENERGY INC
VRSK - Verisk Analytics
ABV - Companhia de Bebidas
ED - CONSOLIDATED EDISON
PETM - PETsMART, Inc.
MDCO - Medicines Company
OGE - O G E ENERGY CORP
KMP - KINDER MORGAN ENRGY
FIRE - Sourcefire Inc
ALK - ALASKA AIR GROUP INC
OKS - Oneok Partners
INSP - InfoSpace, Inc.
SONO - SonoSite, Inc.
PNY - PIEDMONT NAT GAS CO
BEBE - bebe stores, inc
HPY - HEARTLAND PYMT SYS

New 52-week Low stocks

RIMM - Research in Motion
CVC - CABLEVISION SYSTEMS
SINA - sina.com
VALE - Vale S A ADR
ETFC - E*Trade Financial Inc
ITMN - InterMune Pharmaceutical
STJ - ST JUDE MEDICAL INC
FSLR - First Solar Inc
RSH - RADIOSHACK CORP
HGSI - Human Genome Science
MCP - Molycorp Inc
AINV - APOLLO INVT CORP
UNG - United States Natural
TEF - TELEFONICA SA
AEM - AGNICO EAGLE MINES LTD
CREE - Cree, Inc.
FII - FEDERATED INVESTORS
PMCS - PMC - Sierra, Inc.
ROVI - Macrovision Corporation
HDB - HDFC BANK LTD
SHLD - KMart Corp
IBN - Icici Bank Ltd
SLT - Sterlite Industries
HNR - Harvest Natural Resources
SFLY - SHUTTERFLY INC
SPWR - SUNPOWER CORPORATION
LRN - K12 Inc
DRIV - Digital River, Inc.
STEI - Stewart Enterprises
NUVA - NUVASIVE INC
STM - STMicroelectronics NV
WAT - WATERS CORP
RUE - Rue21 Inc
CODE - Spansion Inc
ESI - I T T EDUCATIONAL SVCS
SA - SEABRIDGE GOLD INC
CALX - Calix Networks 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.

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Labels: ELN, FIRE, GNBT, NVTL, ZLCS