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Monday, July 02, 2012 

Five stocks to keep an eye on

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Starting with Sprint Nextel Corporation (NYSE:S), on the daily chart the present uptrend is getting confirmed as the days go on. The technical daily chart above shows the stock is ready for major rally as 50-day moving average has just crossed on top over 200-day moving average to form Golden Cross, a very bullish signal. Additionally, the MACD shows a positive sign as MACD and signal line are above 0. Additonally, the accumul/distrib indicator shows a marked increase in accumulation since the middle of May. Immediate support remains at $3.1 followed by $3. I'm using today’s high of $3.45 as resistance for tomorrow. A break above that area could trigger further bullish momentum towards $3.9.

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Another great day for Pharmacyclics, Inc. (NASDAQ:PCYC) as it breached new highs. At this stage, we have to start thinking about just how high PCYC will go.

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Google Inc (NASDAQ:GOOG) - From a technical standpoint the near-term trend is bearish and GOOG faces a strong resistance at $590.48 ( 50-dma ). A close above this level is a pre-requisite for the reversal of the bearish trend. It is better to wait and see if the stock can break above its 50-day moving average.

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There is a potential breakout scenario developing on the daily chart of InterDigital, Inc.(NASDAQ:IDCC). I'm looking for a move above the 30.28 resistance. If this level is crossed and the stock is able to sustain above this level, then it might go to $33.45. On the downside, the stock has support at $28.05. The stock is currently in a new uptrend. I feel this stock will easily make a strong move to the upside. 

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Trina Solar Limited (NYSE:TSL) stock broke a key resistance level on a volume expansion. If we see follow-through tomorrow, it might run hard.

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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