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Tuesday, May 15, 2012 

Stock Picks for Wednesday, May 16

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Apple Inc. (NASDAQ:AAPL) - The technical chart shows that the bears are fighting back. The stock managed to climb up above the 20-day SMA late in April after the earnings report but failed. A sharp correction has dropped the stock below its 20-day and 50-day SMAs, and the 600 level. As long as the stock trades above its rising 200-day SMA, the bulls will remain in the game. Looking at the chart, the technical indicators are looking bearish. The slow STO has fallen sharply towards its oversold zone and the MACD has dropped into negative territory below its signal line. In addition, the RSI has crossed below its 50% level. However, the stock closed today near its major support of 549 and we may see rally from this levels. Traders should go long using a stoploss below support and hope for targets of 578-589 means 4-6% gains in 1-2 weeks time frame. Any upward bounce towards the 50-day SMA is likely to be used as a selling opportunity by the bears.

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FormFactor, Inc. (NASDAQ:FORM) Bullish. Consolidation showing signs of accumulation.

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TriQuint Semiconductor (NASDAQ:TQNT) - Technically speaking I think it has a good chance to run to the 50-day MA if we see some strength in the markets here. On the daily time-frame, the MACD-histogram has been sloping up and the 10-day SMA has just ticked up to give a buy signal on the Impulse System. The ROC and RSI are both rising, indicating bullishness.

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Zynga Inc (NASDAQ:ZNGA) looks about ready to pop here. The stock has finally recaptured the 10-sma. The chart shows a Bullish MACD crossover and stochastics which indicate we have more room to the upside. I want to see more follow through from this stock tomorrow.

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.


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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