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Wednesday, May 02, 2012 

Four Hot Stocks to watch Tomorrow


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Shares of Sequenom, Inc. (NASDAQ:SQNM) surged 4.58% to $5.36 per share continuing the rally which begins earlier this month. The stock closed at the highs of the day and I'm expecting another move higher tomorrow.  The technical chart shows the stock is in a strong short term bull market with 20 day moving average on top over 50 day moving average and MACD is still above signal line. In addition, the on Balance Volume is in an upward trend it basically shows that the stock has being bought. Initial support is located at $5 on daily chart. As long as the trend line support holds, the uptrend will continue. For now, expect a run up to next resistance area around $6. Technically Bullish.

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FormFactor, Inc.(NASDAQ:FORM) Congratulations to all of you that took advantage of this pick ! The stock broke and closed above its 200-day moving average for the first time since July of last year on a large increase in volume to 4.7m shares compared to its daily avg of less than 400K. Further rally could be seen to retest $7 short term resistance.

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CVS Caremark Corporation (NYSE:CVS) surged 2.71% to $45.92 per share breaking out an important resistance with heavy volume. We should be able to see some decent upside movement for the bulls here. Technically, the stock still in a very strong bull market with MACD on top of signal line and 50 day moving average on top of 200 day moving average.

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Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) have been in a downtrend the past weeks days, but could have found a bottom at these levels. Today, the stock was one of the few bright spots, as the stock closed up 26 cents on the day. If the stock can break through Wednesday's high of $2.7, we should see a high volume upside move. I will watch the stock closely on Thursday and buy once it breaks through resistance.

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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