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Thursday, December 29, 2011 

Stocks to Watch for the Last Day of 2011

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XenoPort, Inc. (NASDAQ:XNPT) made a new low today but ended in the positive with strong volume. The stock looks oversold and could bounce starting tomorrow. Looking closely at the daily technical chart the MACD is showing a bullish divergence. This signifies that the prevailing trend is weak. If the prices fall to a new low but MACD traces a more shallow low, it would mean that bulls are ready to gain control, and this would identify strength at stock bottoms. In the above chart, you can see that bears are losing some momentum. One positive sign comes from insider transaction as company directors have been buying tons of shares since November. XenoPort, Inc. is 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. It has a market cap. of 127.62M no debt and lot's of cash $103M. Shares shorted have decreased from 2,973,400 to 2,749,900 month-over-month. The stock is a short squeeze candidate, with a short float at 8.1% (equivalent to 8 days of average volume). Of the 9 analysts that have set a target price on XNPT, the lowest price target stands at $7.00. This implies a current upside of 95% from current levels around $3.60. I bought today some shares very close to today's bottom. The stock seems to be undervalued and there is still good room for appreciation.

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Furniture Brands International, Inc. (NYSE:FBN) broke the horizontal resistance line today on strong volume and could eventually rally up to test its 50-day SMA. Looking at the technical daily chart the near-term outlook is very positive and a move to the 1.31-1.35 range appears likely. In addition KD also indicate positive momentum.

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Braskem SA (NYSE:BAK) suffered 3 straight selling days this week with the stock breaking the support at 14. The stock closed below this key support level for the first time in over four weeks, this is something worth watching. The stock is still in very weak market as 50-day moving average is still declining and MACD is still below 0. Stochastics and RSI are both in the oversold area. I'm now being cautious until we close back over $14.98. This is not yet the time to buy the stock.

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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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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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