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Monday, April 23, 2012 

Top Trade ideas for Tuesday

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Dendreon Corporation (NASDAQ:DNDN) shares are clearly under accumulation as traders become familiar with this company's potential. The accumulation line continues to scale new peaks as somebody out there gets extra-hungry for DNDN at these levels. There are several indications I see which suggest a near-term bottom, including large positive divergences on MACD in daily. A break above 11.03 on a close basis should be seen as a serious threat for the stock to test the 200 DMA at 13.19. Until that happens traders will want to be on high-alert to the possibility of a bullish reversal. Keep DNDN on your screen for Tuesday’s trading session.

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Gulf Resources, Inc.(NASDAQ:GURE) regained the 20-day average for the first time in over two months. STO bounced off the edge of oversold and is now back on the upswing. MACD just crossed above signal, giving the bulls the signal they wanted. GURE has momentum back on its side. 

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Brinker International, Inc. (NYSE:EAT) had a strong move today, as the stock set new 52-week highs. The stock hit a high of $31.19, which is resistance for the follow through move. You should watch this stock closely on Tuesday.

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Fonar Corporation (NASDAQ:FONR) made a new 52 week high today closing at $6.40 on heavy volume. The stock hit a high of $6.44, which is now resistance for Tuesday’s continuation move. If the stock can break through resistance, we should see another strong upside move. FONR will move very quickly, so watch the stock closely on Tuesday.

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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