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Monday, March 05, 2012 

Five Momentum Stocks to Watch on Tuesday, March 06

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Nice day for Camelot Information Systems Inc (NYSE:CIS). I first alerted on Friday this one as a possible breakout candidate and this morning on Twitter I said the stock was on my watch radar. The stock did what it was supposed to do and was one of the big winners today, closing up 27 cents or 11% on the day trading more than 497.000 shares, well above its average volume. This was a good run for those who jumped in at that time. From a technical standpoint the stock broke out of a symmetrical triangle confirmed on expanding Volume. MACD signal line has crossed to the upside as well. KD line shows positive signs as %K line is rising on top over %D line and RSI continue moving up. The trend is beginning to shift towards bullish. CIS traded heavy volume as it hit a high of $2.74. This high is resistance for Tuesday’s continuation move. If the stock can break through this level, I expect to see another strong upside move to $3.17 and better. Smells like news coming.

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Sourcefire, Inc.(NASDAQ:FIRE) hit a new 52-week high today, trading as high as $48.37, before settling at a close of $47,42. I'll be watching the stock on tuesday, looking for a follow through move. As long as the stock stay above $46.29, the bullish scenario still intact. Technical chart shows very strong bullish sign. First, the stock is trading above both 50-day and 200-day moving average with both moving average pointing upwards. Then the MACD indicator is positive and RSI still show the stock is on the positive swing.

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BroadVision, Inc.(NASDAQ:BVSN) broke out and never stopped all day. There is a good chance the stock will continue to move up. Tight stops should be used.

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Dollar Tree, Inc. (NASDAQ:DLTR) - Broke out to a new all-time high today, accompained by a strong volume suggesting higher levels. The technical chart still showing a bullish bias. KD line shows positive signs as %K line is rising on top over %D line and RSI continue moving up. I suspect the stock may continue to appreciate over the coming days.

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International Business Machines Corp. (NYSE:IBM) - Nice looking breakout with volume. The stock hit a high of $201.19 which is now resistance for Tuesday’s follow through move. 

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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