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Wednesday, August 01, 2012 

5 Stocks To Watch For Thursday

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The stock on the spotlight today is InterDigital, Inc. (NASDAQ:IDCC). The stock surged more than 14% or $3.88 to 31.88 per share at six times average volume after court rules Nokia violated its patents. I alerted my twitter followers at $27.50 this morning before the spike. From a technical standpoint the stock broke an important resistance at $30 on heavy volume. This means there is more upside. The decline over the last few weeks occurred on lower volume and the stock is firming above its 50-day moving average. The technical chart shows the stock is now back to uptrend and with %K line above %D line and RSI above 60 we may see more upside. In addition, the on balance volume is increasing, this clearly shows that smart money is moving into the stock. The share price is likely to move to the target zone of the 34-35 range. For the long term the stock should still continue to go up.

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D.R. Horton, Inc. (NYSE:DHI) - The 19 area has proven to be a strong resistance for the stock and a breakout above this region is bullish. Over the last sessions the stock has failed to move higher and closed today just above the major support level of 17.22 ( 50-day MA ). If the stock breaks below this level, the downside target is roughly $15.50.

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First Solar (NASDAQ: FSLR) reported earnings after the close and the market loved what they saw. The company reported $1.27 earnings per share for the quarter beating the analysts consensus estimate of $0.92 by $0.35. First Solar’s revenue was up 79.5 percent compared to the same quarter last year. FSLR  is trading up after hours and I expect it to gap open on Thursday. I'm using the May 22th high of $16.42 as resistance.

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FormFactor (NASDAQ: FORM) also posted its quarterly earnings results today. The company reported ( $0.08 ) earnings per share for the quarter, beating the analysts’ consensus estimate of ( $0.13 ) by $0.05. FormFactor’s revenue was up 17.6% compared to the same quarter last year. The stock has been trading within a rising channel since December 2011 and gives traders great exit and entry levels.  I'm curious to see how it reacts tomorrow after the strong results. 

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Despite the general market's weakness Zalicus Inc (NASDAQ:ZLCS) made an impressive turnaround and rallied almost 6% to close the day at $1.12. The next visible resistance is at $1.25-1.27 area. The MACD seems to be crossing up indicating bullish swing.

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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