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Zagg Inc (NASDAQ:ZAGG) stock is perking up with good volumes after a decent consolidation period. Notice on the down days the volume has been very low and on the up days volume has been greater which tells us the bulls are in control here. As long as price remains above 10.46, I see the potential for more upside while noting that near-term resistance is at 10.96 and longer-term resistance is near 11.70. Long positions can be taken at current price (10.83) and below with stop loss below 9.73 on closing basis. The technical indicators are improving. The MACD is positive and above its signal line. The RSI is above its neutrality area at 50 and the CMF is also positive. We can also see in the technical chart above that the 20 day sma has crossed over the 50 day sma in February and that the stock is now flagging above it’s 20 day sma. At this point there are still plenty of bears who do not believe in this rally. It appears that the big money is about to dive into the long side as the technicals indicate that the stock is poised to move higher, possibly a lot higher due to the high short interest in the stock. Keep the stock in your radar. I like this stock a lot !!!
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Arena Pharmaceuticals, Inc.(NASDAQ:ARNA) stock had very nice move this week. Volume continues to be strong on this move up, which is very positive. I want to see more follow through from this stock next week. Next resistance lies only at 2.62
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InvenSense Inc (NYSE:INVN) stock broke out today but failed to close near the highs. INVN pulled back during the day, however still closed higher than the high of the previous two sessions, which is bullish to me. Let's see how this trades next week.
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Amazon.com, Inc. (NASDAQ:AMZN) - Continues trading higher since cleared this symmetrical triangle. Technically, the stock still trading above both 20 day and 50 day moving average and MACD is above 0 showing positive momentum. Other factors that are in favor of a move higher is the technical indicator Accum/Dist and the the Relative Strength Index, both are still rising which is bullish. Resistance for Monday’s move is $196.2, which reflects Friday’s high of the day.
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Elan Corporation, plc (NYSE:ELN) looks poised to move higher after a nice healthy low volume consolidation. This stock is holding up nicely above the key support of $14.4 in this weak market environment. It has a good base which can be used as a stop loss for long position. On the upper side, the move is likely to accelerate above $15. Short-term investors can hold the stock as long as it trades above $14.4
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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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AC
Labels: AMZN, ARNA, ELN, INVN, ZAGG
