Friday's Stocks to Watch, Aug 10
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PulteGroup, Inc. (NYSE:PHM) broke out to new highs Thursday on 1.5x the
daily average volume. The short-term uptrend is intact and signals
further bullishness on this stock. Buy the stock in dips with tight
stop-loss at $11.49.
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InterDigital, Inc. (NASDAQ:IDCC) shares gained more than 2.8 percent on
Thursday closing near its highs of the day on decent volume. I'm keeping
IDCC on the list for the next few sessions and I expect to see the stock
pop up to $35. The next major resistance level for the stock is located
at $34.97. A close above this level would be very bullish. Pullbacks to
$31.57-$32 are now a good entry point. The daily technical indicators
are bullish as MACD momentum and histograms trend higher in positive
territory and RSI is moving up.
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ON Semiconductor Corp. (NASDAQ:ONNN) closed back over the 50-day MA and
the volume was good. The immediate support level is now adjusted to
$6.75 followed by $6.51 and the resistance continues to be located at
$7.23 followed by $7.36. The technical indicators such as KD and RSI
also show buy signal as %K line has just crossed on top over %D line
& RSI is also moving up and just crossed its 50% level. In the near
term the support base around 6.5 should maintain a positive bias.
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Savient Pharmaceuticals, Inc. (NASDAQ:SVNT) has a strong resistance located at $.89 but then nothing until $1.26. The stock was
one of the strongest small caps stocks on Wednesday and I expect the
momentum to continue. Daily MACD continues to rise bullishly and recently crossed the zero line. Stay tuned.
Labels: BTU, IDCC, ONNN, PHM, SVNT
