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Tuesday, May 01, 2012 

Few Stocks to watch on Wednesday, May 2


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Activision Blizzard, Inc. (NASDAQ:ATVI) stock has made its way back to the resistance level and is moving sideways. Notice the RSI, it has moved above the oversold level and MACD has crossed the zero mark, which is bullish. A close above 13 will signal longs with a target price of 14.12. If the Stock fails the break and heads lower, look for shorts under 12.50 for targets down to 12.05.

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Zagg Inc (NASDAQ:ZAGG) after posting an awesome run lost some steam today and looks poised for a pullback in the near term. It has good support at $12.35. If it falls below this level on a close basis, then it can possibly go down to $12. Only a close below $11.81 would negate the short term bullish outlook.

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Gulf Resources, Inc. (NASDAQ:GURE) continues to garner some attention. At some point it will explode to the upside. From a technical standpoint, the slow STO is strong increasing and leaving the oversold zone while the fast STO is also rising, giving strong bullish signal. The MACD is turning up after a long fall, confirming the STOs signal. The RSI is moving up, showing uptrend incentive.With the strength the stock showed at the close, we should see a continued upside move tomorrow. If the stock can break through $2.3 we should see a strong upside move. Watch GURE closely over the next few days.

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Apple Inc. (NASDAQ:AAPL) Needs to hold the 50 day MA at $581.55 and as long as it holds on closing basis the downside is limited.

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FormFactor, Inc. (NASDAQ:FORM) - The stock closed up and should continue higher on Wednesday. The company reported earnings after the close and the market loved what they saw. FORM is trading up after hours, and I expect it to gap open on Wednesday. A break of $6 and this could fly. The accumulation/distribution chart is showing some strength in this movement, which a good sign as investors are not using this movement to get out of the stock. MACD is also showing some strength and looks like it could give a buy signal sometime soon.

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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

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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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