6 Swing Trade Setups to Watch on Wednesday May 30th
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Shares of Skyworks Solutions Inc (NASDAQ:SWKS) edged higher on stronger
than usual volume. The stock price closed above the 50-day moving
average of $26.33. As long as prices remain above the moving average key
indicator, traders will view this development as a sign of strength. In
addition, today's stock price for SWKS ranged between $25.81 and $27.
Based on the pivot points the current support and resistance levels for
Skyworks Solutions are $26.33 and $29.01
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Bank of America Corp (NYSE:BAC) New bullish MACD cross has occurred on
the daily chart. The stock has made higher lows on the daily chart
showing signs of possible reversal trend. Stoploss should be placed just
below 7, the immediate target is 7.95.
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FormFactor, Inc. (NASDAQ:FORM) climbs in after-hours after
the company raised its second quarter revenue outlook, citing customer
demand across the DRAM and Flash memory segments. The company said it
now expects second quarter revenue to be
$50 million to $54 million, compared to its prior guidance of $43
million to $47 million. Short-term levels to watch tomorrow $6.34 and
then $6.75.
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Is tomorrow the day for Career Education Corp. (NASDAQ:CECO) ?
Indicators are calling for a Powerful Breakout. The MACD just gave a
crossover buy signal and the RSI is rising. This should be a good entry
point to take a long position. I'll maintain long exposure so long as
that stock stays above $6.22. CECO also has about 4,774,300 shares
outstanding sold short, which will produce more buying pressure as
shorts run to cover, if and when the stock can break and close above its
50 day located at $7,23. Keep the stock on your radar since it could
make a solid move upwards.
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On the daily, the chart shows a bearish picture for Zynga Inc
(NASDAQ:ZNGA) stock with MACD and KD showing weak signal as MACD is
below 0 and %K line is dropping below %D line. Although the Stochastic
is clearly oversold, we all know that an oversold indicator, especially
the Stochastic within a bearish probability can be misleading. The stock
has a strong support in the psychological level of $6, but any close
below this level could start a new sell off.
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VirnetX Holding Corporation (NYSEAMEX:VHC) had a very nice day today
(+10%) as it broke out from a nice bull flag formation with high volume.
I want to see more follow through from this stock tomorrow.
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Labels: BAC, CECO, FORM, SWKS, VHC, ZNGA
