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Saturday, August 25, 2012 

Good looking setups to watch next week

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InterDigital, Inc.(NASDAQ:IDCC) has finally started to rally and broke out of the consolidation that the stock had been stuck under for the last 2 weeks. It has breached two important levels at 33.08 and 33.33 quite convincingly. I see the next resistance in the 34.20-34.35 area. A move above this area would be viewed very bullish and could cause a huge short squeeze. There are some reasons to start taking an active look at this stock as I have been mentioned several times in my blog posts.

- The volume chart from OBV has been on an upside indicating strength.
- The MACD is above 0 showing positive momentum but displaying first signs of divergence between column bars and the trend line.
- RSI is on a comfortable zone.
- Trading above both 13 & 50 day moving averages moving upwards
- It has been making higher lows since June.
- 13.8% short or 6.1 M & might see a good squeeze above its 200-SMA
- High short ratio 11.10

From a technical standpoint the potential for further upside looks far more attractive on purely relative terms. Honestly, I like what I am seeing...Additionally, the company continues being mentioned in the news regularly as a strong potential buyout candidate. This is definitely a stock to watch next week.

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NetApp Inc. (NASDAQ:NTAP) had a strong breakout day on heavy volume. The next key resistance levels are located at $36 and $36.48. Shareholders may remain invested with a stop-loss at $32.84.

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Pharmacyclics, Inc. (NASDAQ:PCYC) broke out to a new all-time high on Friday accompanied by a good volume suggesting higher levels. The stock has been in a nice uptrend for the last three months and it looks very strong with both 50 day & 200 day moving average going up. PCYC is on the overbought level, so for the coming week expect a little bit of selling to occur as the RSI is near the 80 level. As long as the stock stays above the 13 day and 50 day moving averages it is still safe to hold on to your positions.

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Kraft Foods Inc (NASDAQ:KFT) Broke out on strong volume placing this stock on the map for technical analysis breakout buyers. Looking for $41 to now act as support.

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PulteGroup, Inc.(NYSE:PHM) - It may be close to breaking to new highs here. The stock has been consolidating the past few days and just recently started inching above most of the consolidation area. At this stage it is definitely a wait and see if the resistance will be easily taken out by the bulls. Fresh exposures may be considered on a move past $13.91, with a stop-loss at $12.93. 

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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