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Monday, January 09, 2012 

Top Trade Ideas for Tuesday Jan 10th

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InterDigital, Inc. (NASDAQ:IDCC) stock is facing resistance from its 50 day SMA, but there is a good possibility that it will be back in bullish territory soon. Resistances from the 50 day SMA and the 43.25 level need to be crossed convincingly. The technical indicators are supporting the bullishness. Once volume shows up I expect it will take off. Hold.

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Sirius XM Radio Inc. (NASDAQ:SIRI) stock hit a new six month high today of 2.08 but has reversed most of its early gain and closed at $2.05. The main technical indicators remain conducive, which means the up move should continue this week. The MACD is positive and above the signal line. The RSI is above the 50% and the slow stochastic has entered its overbought zone. A bit of correction or consolidation here may provide the impetus to the bulls to take the stock to a new six-month high.

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The down trend in the ReneSola Ltd. (NYSE:SOL) stock has turned into a bear market, confirmed by the death cross in May 2011. The recent rally faced strong resistance from the falling 50 day SMA. The technical indicators are mildly bullish. Observant readers may notice the positive divergences. Buy only on a clear break above the 50-day SMA.

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Nuance Communications Inc. (NASDAQ:NUAN) broke out of the cup and handle pattern today with a successful close above it. Bullish.

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After gaining 1 percent for most of the session, THQ Inc. (NASDAQ:THQI) spiked in the last minutes of trading to finish at 81 cents, up 9 percent, or 7 cents on no news. The volume was also relatively high and reached 1.7 Million of shares. Whether today's performance could be the start of a real bounce or it's was just a temporary support level, is not yet clear. So, it will require confirmation tomorrow to see if the rally is sustainable. 

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Dendreon Corporation (NASDAQ:DNDN)  is overextended to the upside and signficantly overbought. So don't be surprised if the stock takes a break and corrects back toward $12 before moving higher again. I'd prefer to open new positions on a dip. Technically, the stock is extremely overbought, so we cannot rule out a pull back but at the same time it can remain overbought until it wants to come down. Stay tuned.

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. 

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'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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