Five nice setups to watch next week
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FormFactor, Inc. (NASDAQ:FORM) on the way to test the $7 level again.
The technical chart above shows that although the decline looks
impressive in the short-term, it's still within a rising channel that
started in December 2011. With the stock again above the 50-day moving
average and stochastic moving up, it looks like the stock is heading for
the top of the channel again ! If you are bullish on the stock now is a
nice time to buy and aim for the most recent high. If the stock does
continue the bullish trend stay above 5.8, the next important resistance
is 7, this should be the max target for the short-term though a
break above does open up more room to the upside. Additionally, the accumulation indicator shows the strength of conviction behind this Bullish trend. Lets keep an eye on it.
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Shares of News Corp (NASDAQ:NWSA) today broke out of a bullish
consolidation pattern that has been a pause in its steep more than 30%
up move in June. Look for follow-through on Monday with increasing volume to confirm today's move.
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Tellabs, Inc.(NASDAQ:TLAB) was one of the big winners on Friday, as the
stock traded up on their earnings. At its daily high, the stock touched
the 50-day moving average but it did not surpass the resistance level. A
close above this level is likely to take TLAB to higher levels with the
stock expected to test the intermediate high of 3.8 recorded in May.
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Nice breakout on OCZ Technology Group Inc. (NASDAQ:OCZ) with strong
volume. Momentum picking up with MACD climbing and RSI rising. Look for a
quick run to $8 then on to $8.46
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Manitowoc Company, Inc. (NYSE:MTW) Solid breakout on strong volume. If
the stock can break Friday’s high of $12.36, we should see a strong
follow through move. MTW will move very quickly, so keep a very close
eye on the stock next week.
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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.
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.
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AC
Labels: FORM, MTW, NWSA, OCZ, TLAB
