Stocks Watchlist For Wednesday, April 04
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Level 3 Communications, Inc.(NYSE:LVLT) stock is building a nice flag, holding above 20 day SMA. Watching for 26.7 breakout.
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Macy's, Inc. (NYSE:M) surged 1.69% to 40.89 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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Red Hat, Inc. (NYSE:RHT) broke out to new highs Tuesday on expanding 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 $58.
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Celgene Corporation (NASDAQ:CELG) had a nice breakout Tuesday on
expanding volume and looks ready to extend it's gains. Keep on watch
list.
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Ford Motor Company (NYSE:F) is trading within an ascending triangle with the down line at 12.25 and the higher line at 13. A break above this level with large volume would confirm the formation.
Possible target price for the ascending triangle formation is at around
$14.20. As you can see from the chart above, the stock is coming out of oversold territory with a bullish MACD crossover. Stay tuned.
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