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Thursday, January 05, 2012 

Technical Setups on watch for Friday

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Oclaro, Inc. (OCLR) stock surged 15.65 percent to $3.40 today after the company raised its second quarter preliminary revenue guidance to about $86 million from the previous forecast of $75 million to $85 million, while Street predicts $80.69 million. From the technical analysis perspective, the outlook for OCLR is relatively bullish. Stochastic, MACD and ADX charts are flashing bullish signals. Also significant was that the stock closed above a key resistance point of $3.25. I will be watching the stock on Friday for a continuation move. Resistance for this move is $3.53, which reflects Thursday’s high of the day.
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Apple Inc. (NASDAQ:AAPL) is poised to breakout to new highs. The technical chart above shows very strong upward momentum as the stock is above the major moving averages with both 50 day and 200 day moving average going up. All indicators still point to a bull market. No signals of a reversal, still holding this.

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MGIC Investment Corp. (NYSE:MTG) had a huge breakout day on heavy volume. The next key resistance levels are located at $4.44 and $4.75. The technical daily chart shows the stock is currently in the rally as %K line is rising on top of %D line, indicate buy signal. Shareholders may remain invested with a stop- loss at $3.64.
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Today marked an important shift in Sirius XM Radio Inc. (NASDAQ:SIRI) shares as they closed above a major horizontal resistance line that has been forming since September last year.  The stock was one of the big winners, closing up 21 cents on the day. SIRI traded heavy volume as it hit a high of $2.04. This high is resistance for Friday’s continuation move. Looking at the technical chart I see a stock that cleared a sideways consolidation base. Next resistance lies at $2.25. Keep SIRI on your radar for Friday’s trading day.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog  twitter and newsletter, so you can receive my trade ideas and stock news in real time. 

Other stocks to watch :

US Earnings Calendar for Friday, January 6

China Technology Development Group Corp - CTDC
Commercial Metals Co - CMC
Greenbrier Companies Inc - GBX
PriceSmart Inc - PSMT
Robbins and Myers Inc - RBN
Seanergy Maritime Holdings Corp - SHIP

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.


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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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