Five Swing Trade Setups to Watch Next Week
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As I discussed on Friday of last week the most recent pullback was a
great buying opportunity. Shares in Pharmacyclics, Inc. (NASDAQ:PCYC)
closed the week with a new all-time high over 40, closing up $2.76 to
39.49, on strong volume of 2.1 million shares trading hands. Chart is Bullish but a pullback would be nice.
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Apollo Group Inc (NASDAQ:APOL) is perking up with good volumes after a
decent consolidation period. The stock closed the week above the 50-day
MA for the first time since February. A move beyond 35.29 will take it
to 36.25 and 37.36. Stop loss is 32.50 on daily closing basis. Like the MACD trend, RSI and MFI trending higher.
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Sodastream International Ltd (NASDAQ:SODA) - Closed right at the 200-day sma. If it can get above it, may run hard. The MACD is rising and the RSI is suggesting a continuation of the uptrend. Considering the above, I will watch out for 35.36 which is the key level for next week.
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Zynga Inc (NASDAQ:ZNGA) continues to trade below its key DMA's. The MACD
is in the negative and is showing some signs of rising, however the
Parabolic SAR continues with its sell signal. Above 6.36, I will open
long positions with an initial target of 6.88.
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As I discussed yesterday, the up and above direction on the shares of
Zalicus Inc(NASDAQ:ZLCS) continued unabated. The stock is trading well
above all its key DMAs, indicating that the up trend is still intact. It
now reached overbought conditions so at these levels we should have
some cautions. The stochastics are also deep in the overbought zone, and
a mild correction cannot be ruled out at this stage. However, I will
wait for a reversal signal to actually happen before I take that view.
The Parabolic SAR continues with its buy signal. Above 1.36, I will open
fresh long positions with an initial target of 1.54.
Labels: APOL, PCYC, SODA, ZLCS, ZNGA
