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Friday, July 27, 2012 

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.

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.

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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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