Trade Setups To Watch on Tuesday , June 05
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Shares of Zalicus Inc (NASDAQ:ZLCS) could be in the early stages of a
technical breakout. The stock closed right at its 200 day MA on the
daily chart on heavy volume. Although recently the stock has been on a pull back today's 19.75% gain
to $1.10 per share shows the stock may be on the rise again. The technical chart looks like it's set up and ready to go.
I will be watching very closely for news. ZLCS looks
like it wants to run.
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XenoPort, Inc. (NASDAQ:XNPT) closed back over the psychological level
of $6 and the volume was good. It looks like an upside breakout is
imminent as the stock completely turned around from Friday's negative
price action. The immediate support level is now adjusted to $5.53
followed by $5.29 and the resistance continues to be located at $6.11
followed by $6.30.
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Amazon.com, Inc. (NASDAQ:AMZN) had a nice reversal today, so I look for further upside. Target 220 and then 230. The chart is showing bullish sign as 50-day MA has crossed
on top over 200-day MA and form Golden Cross, a bullish
signal recently. Although the stock has been on pull back, with MACD
still above zero, we should see AMZN going up again soon as ROC is
showing stock is oversold.
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Zynga Inc (NASDAQ:ZNGA) broke support and made a new 52-week low. The
stock can continue going down, because there is no supports below.
Unless the stock can recover above $6 again, the technical outlook for
the stock will be bearish and you should reduce your exposure. Hard to
say how far down it will go, since that depends on the strength of any
selling.
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Labels: AMZN, XNPT, ZLCS, ZNGA
