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Wednesday, February 29, 2012 

Few trade ideas for the first trading day of March

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Elan Corporation, plc (NYSE:ELN) has a mixed technical profile at the present moment. Intermediate trend is down. The stock recently broke below its 20 and 50 day moving averages. Short term momentum indicators are now showing technical signs of recovery. The break of the resistance of $13.03 with heavy volume should be the next buy point on ELN.

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Shares of Sirius XM Radio Inc (NASDAQ:SIRI) surged 2% to $2.26 per share breaking out an important resistance with heavy volume. We should be able to see some decent upside movement for the bulls here. Technically, the stock still in a very strong bull market with MACD on top of signal line and 50 day moving average on top of 200 day moving average.

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Uranium Energy Corp. (NYSEAMEX:UEC) - $3.62 could be the level the stock might find support. Notice accumulation volume has been ramping up lately.

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Glu Mobile Inc.(NASDAQ:GLUU) is back at the breakout area again and may find support here. Volume declined on the pullback which is positive. I'm Bullish on stock.

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Melco Crown Entertainment Ltd (NASDAQ:MPEL) - Looking very good but the stock might consolidate in short term.

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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.

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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