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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Labels: AAPL, AVTI, FORM, GURE, ZAGG
