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Thursday, August 30, 2012 

Watchlist for Friday, Aug 31

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Costco Wholesale Corporation (NASDAQ:COST) Price broke out of a one-month consolidation period on heavy volume, making a new all-time high over 99. From a technical standpoint the MACD generated a buy signal today plus the RSI is turned upward and isn't at an overbought level just yet, so I guess the breakout today is legit. The stock looks good for more.

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Shanda Games Limited (NASDAQ:GAME) - There is a possible double-bottom on the daily charts at 3.16 with a confirmed neckline around 3.50. If this level continues to hold as support, a retracement rally back towards 3.84 looks achievable.

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Cree, Inc. (NASDAQ:CREE) is moving sideways in a narrow range with a slight bias to the downside. A break out on either side of this range will decide the stock direction.

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Complete Genomics, Inc. (NASDAQ:GNOM) shares successfully broke the resistance of its 200-day moving average of 2.93 with unusual volumes. This is a very bullish development. Short-term technical indicators are strong and the MACD on the daily chart recently produced a new buy signal. If the stock can break today’s high of $3.17, we should see a strong follow through move.

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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