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Tuesday, July 03, 2012 

6 Chart Set-ups to Watch on Thursday

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Pharmacyclics, Inc. (NASDAQ:PCYC) - After its long run up the stock finally had a pullback with most of market participants on holiday. However, Pharmacyclics shares hit a new all-time high of $59.39 before closing at $57.82. I will continue to watch the stock closely. The volume is still large so it could potentially break out again at any moment. If the pullback continues look for the 10-day moving average, currently located at $52.17 as the first area of support for the stock.

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From a technical standpoint, Goldman Sachs Group, Inc. (NYSE:GS) broke out today above some past overhead resistance at $97.50 to $97.60. The next key technical levels that traders should be watching for are at the 50-day moving average of $99.44 and at $103.92, which is the next significant resistance. 

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Looking at the technical chart, Ciena Corporation (NASDAQ:CIEN) is quickly approaching a big breakout if the stock can manage to trade above $17.39. A strong volume move above that level, could set the stock up to retest its June 2011 highs of $18.79.

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Juniper Networks, Inc. (NYSE:JNPR) - A push through the 16.2/16.25 level with some volume could break the downtrend line. Some technical indicators are displaying positive divergences as they failed to make new lows. I alerted this stock to my twitter follwers at $15.85.

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Tellabs, Inc. (NASDAQ:TLAB) saw continued buying pressure today. I think current levels offer a great chance to play a rebound in shares. The stock closed today at $3.41. From a technical standpoint the stock has build a support around $3.26 and $3.3 recently and do has the chance to go up. Any breakout above 50-day MA will be positive sign. Additionally, the technical chart displays a bullish MACD crossover and stochastics which indicate we have more room to the upside.

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Camelot Information Systems Inc (NYSE:CIS) Strong close above the 50-day MA. This will bring in new eyes on Thursday for sure.

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. 

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.


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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