Few trade ideas for tomorrow, June 14th
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Breaking a short-term downtrend line. The technical indicator which
shows strength is KD line, where %K line has just rose on top of %D
line, indicating buy. However, the stock is still generally weak as MACD
is still below zero but with a Bullish Divergence. The long term trend
is still weak as the stock is still below 200-day MA with the moving
average keeps falling. Shares of Dendreon Corporation (NASDAQ:DNDN) may
expect now some resistance at $8 per share. The short term is now BULLISH.
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FormFactor, Inc. (NASDAQ:FORM) Nice price action in a bad tape closing right at the 200-day MA. It should make us some money next few days. Only a close below $5.4 would alter my interpretation.
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Zalicus Inc (NASDAQ:ZLCS) stock is flagging here. If it's breaks $1.37 it will absolutely fly into the 1.50 area right away. Only a close below the 200-day MA would have negative implications.
Keep the stock on
your screen because once ZLCS breaks through resistance, the stock should
take off and move quickly.
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Arena Pharmaceuticals, Inc.(NASDAQ:ARNA) - The stock continues to breakout and now up 35% this month. Short term
technical indicators are now showing extreme overbought reading. Might
pause here but looking to add on any Dip.
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Seattle Genetics, Inc.(NASDAQ:SGEN) recorded a new high in the last trading session. Short-term outlook for the stock is bullish. If in the next sessions new highs do not happen, I expect to see a decline due to the overbought conditions. On contrary, new fresh exposures on SGEN should be made only when the stock move aboves 24.63.
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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
Thanks for visiting AC Investor Blog.
AC
Labels: ARNA, DNDN, FORM, SGEN, ZLCS
