Stock Picks for Wednesday August 15
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PulteGroup (NYSE:PHM) is testing the resistance level. The uptrend
is intact and a breakout higher is expected. Look for a break above the
12.92 level to enter longs.
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American International Group, Inc. (NYSE:AIG) should pause around
its resistance at $35 after recent rally in share price. The recent
action in the stock is very promising. A possible breakout over $35 is
very likely in the sessions ahead. However, the stock needs a rest here
and I'd like to see a healthy pullback to work off overbought
conditions.
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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA has made its way back to the
last breakout level and bounces. ARNA has now broken its 13-day MA and a
move higher has started. Look for this stock to test its 50-day MA in
the short term where a breakout higher is expected. A stop-loss should be placed at $6.95 to protect against a reversal.
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National-Oilwell Varco, Inc. (NYSE:NOV) is near resistance level.
Look for the break above the 77.5 level to enter longs for a move higher
to 80
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Elan Corporation, plc (NYSE:ELN) is in a support level (13-day MA). Look for a
bounce off these levels entering longs above the 12.12 level. Price
target on bounce is back to 13. Additionally and from a technical standpoint, the chart also shows a bullish
MACD crossover which indicate we have some more room to
the upside.
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Labels: AIG, ARNA, ELN, NOV, PHM
