Trade Ideas for Week of April 16, 2012
( click to enlarge )
Renren Inc (NYSE:RENN) stock
closed right at a key resistance level Friday with a bullish green
candle. At this point, the stock is overbought but volume and money flow
still building. Nearest resistance for the stock is at $7.45. If this
level is crossed and the stock is able to sustain above this level, then
it might go to $8. For long trades, stop loss should be placed at
around 5.92. Watch the stock closely next week.
( click to enlarge )
Sequenom, Inc.(NASDAQ:SQNM) had a
bullish momentum on Friday, closing the day with a gain of more than one
percentage point near the highest price of the day on a sell-off day on
Wall Street. The bias is bullish in nearest term especially if price
able to stay consistently above $3.93 targeting $4.50. Stock was
oversold and is now in reverse. Note a positive MACD divergence on daily chart and bull cross.
( click to enlarge )
Visa Inc (NYSE:V) broke out on Friday and made a new 52-week high of
$123.68. I'm keeping V on the list for the continuation move. The stock
had big buyers in it all day and looks ready to make another move on
Monday. I'm using Friday’s high as resistance. A break above that area
could trigger further bullish momentum.
( click to enlarge )
Sirius XM Radio Inc (NASDAQ:SIRI) - From a technical standpoint, this stock is currently in an uptrend and
is finding support from its 50 DMA at 2.23 . If it stays above and
moves up, then it might even go to 2.41. If the stock falls below this
level, then it might see further weakness.
( click to enlarge )
E Commerce China Dangdang Inc (NYSE:DANG) had a significant bullish
momentum last week after break above 10 and now struggling around 10.3.
Looking at the technical chart above the bias is bullish in nearest term
especially if price is able to stay consistently above 10 targeting
11.25. Unless we have another movement back below this level, I think
DANG still in a bullish correction phase.
( click to enlarge )
FormFactor, Inc. (NASDAQ:FORM) stock has entered into a consolidation phase
after rising very fast in the past few days. The bias remains bullish
in nearest term. Immediate resistance remains at $6. Break above
that level could trigger further bullish momentum towards $6.5 area.
Initial support remains at $5.54 ( 20-day moving average ). I expect
positive trend in the stock to continue with immediate target placed at
$6.
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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: DANG, FORM, RENN, SIRI, SQNM, V
18:39 | Permalink 
