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Thursday, April 12, 2012 

Setups to Watch For Friday

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Intel Corporation (NASDAQ:INTC) - After a brief dip below the 20 day MA, the stock regained its composure and made a new high today at 28.52. The technical indicators are beginning to favour a further up move. The stock is again well above the three DMAs, which are all moving up and RSI has moved above the 50% level in a V shaped rebound. In addition, the slow stochastic has started to rise sharply in the negative zone. INTC is a stock to keep an eye on for awhile.

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Sequenom, Inc. (NASDAQ:SQNM) was a nice winner for my twitter followers. Congratulations to all of you that took advantage of this pick mentioned this morning ! Nice candle today on above average volume. Tomorrow, the stock might go above $4. Notice the positive MACD divergence. Daily stochastics currently remain near oversold levels with plenty of room to run higher.

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DryShips Inc. (NASDAQ:DRYS) showed buying strength all day on Thursday. DRYS is on the verge of breaking out and it could happen very soon. The volume dramatically increased after crossing its 50-daily moving average, showing me there are buyers watching the stock. Once the stock breaks $3.84, jump in and watch DRYS take off.

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FormFactor, Inc. (NASDAQ:FORM) - A strong reversal on Wednesday had nice follow through today. The technical indicators are looking stronger. The 20-day MA has started moving away from the 50-day MA. The RSI and MFI have moved above their 50% levels. In addition, the MACD has moved into positive territory and remains above the signal line. The stock hit a four-month high of  5.96 which is now resistance for Friday‚Äôs continuation move. If the stock can break through resistance, we should see another strong upside move. FORM will move very quickly, so watch the stock closely tomorrow.

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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