Wednesday's Stocks To Watch, May 23 2012
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Akorn, Inc. (NASDAQ:AKRX) tried to breakout today again after yesterday's breakout but failed to close near the highs. The stock
pulled back during the day, however still closed higher than the high of
the previous session, which is bullish to me. Lets see how this trades
tomorrow.
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Bought Pharmacyclics, Inc. (NASDAQ:PCYC) on Monday after a nice
breakout. Today's action followed through nicely as this stock was up
4.5%. The technical chart show a continuation of the uptrend with MACD
and RSI in the Bullish areas. However, both stochastic and the RSI
indicator is reaching the top end which indicates that the stock may be
reaching overbought condition soon. For the long term the stock should
still continue to go up. Resistance: $32.94 Support : $27.42
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Rosetta Genomics Ltd. (USA) (NASDAQ:ROSG) continues to perform strongly and appears poised to test the 200-day moving average line at $8.26.
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Wal-Mart Stores, Inc. (NYSE:WMT) continued higher today up over 1% as
there was good follow through from the breakout yesterday.
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Celgene Corporation (NASDAQ:CELG) bounced nicely off the 200 day MA. If
it can clear the recent high of $71.75, I think it can get to the 50 day
MA at $75
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FirstEnergy Corp. (NYSE:FE) was setting up nicely in this small
consolidation pattern and I was expecting a breakout soon, however it
seems as though it wants to continue consolidating. Looking at the
technical chart the 20-day MA is moving up and hopefully this can
provide some support in the next few days. I still like the stock here
if it can hold that MA.
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Labels: AKRX, CELG, FE, PCYC, ROSG, WMT
