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Monday, April 16, 2012 

Possible Long Setups for Tomorrow

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Simon Property Group, Inc (NYSE:SPG) broke out to new highs today on 1.5x the daily average volume. The short-term uptrend is intact and signals further bullishness on this stock. Buy the stock in dips with tight stop-loss at $140.

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On the radar. Bottom play. XenoPort, Inc. (NASDAQ:XNPT) gave us a nice move today, which could be the start of a bigger move. The stock reversed most of the prior week's loss and regained the 50 day MA on decent volume. I'm using today’s high of $4.35 as resistance for Tuesday. A break above that area could trigger further bullish momentum and keep the bullish scenario intact. I bought the stock because I remain encouraged by their strong balance sheet with a high level of cash, no debt and high institutional ownership level 87% Bullish.

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POZEN Inc. (NASDAQ:POZN) cleared resistance on expanding volume and looks ready to extend it's gains. Keep on watch list.

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Research In Motion Limited (NASDAQ:RIMM) was one of the winners today, as the stock closed up 53 cents on the day with huge volumes. I'm going to keep an eye on it and see how it reacts tomorrow. The outlook is positive and a move to 13.86-14.15 appears likely. Note, the daily chart displays a positive MACD divergence.

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 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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