Stock Picks for Wednesday, May 16
( click to enlarge )
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.
( click to enlarge )
FormFactor, Inc. (NASDAQ:FORM) Bullish. Consolidation showing signs of accumulation.
( click to enlarge )
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.
( click to enlarge )
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.
Labels: AAPL, FORM, TQNT, ZNGA
