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Saturday, September 08, 2012 

Momentum Stocks to Watch for Week of September 10, 2012

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Regions Financial Corporation (NYSE:RF) broke out of a one-month consolidation pattern above $7.17 on really good volume. Look for follow-through on Monday with increasing volume to confirm Friday's move.

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Alcoa Inc. (NYSE:AA) broke through that critical $9 level on Friday and looks to be heading higher.  Additionally, there is a "buy" signal indicated from MACD. The next resistance level to watch is at 9.24 (200-SMA). Above this level could test 9.94 next.

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DryShips Inc. (NASDAQ:DRYS) looks set to retest key daily chart resistance at 2.42. A breakout above this level will not come easily but a successful move will place 2.58 as the next level to watch. From the technical analysis perspective, the outlook for DryShips is relatively bullish in the short-term which can be further confirming in RSI and ADX charts. +DMI crossing above the –DMI suggesting a buy signal while RSI crossing back above 50 signals. The short term trend is to the upside targeting 2.58

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InterDigital, Inc.(NASDAQ:IDCC) had a very nice move this week after breaking out of a small bull flag. Volume continues to be higher than average on this move up, which is very positive.  The most interesting for this stock is in the On-Balance-Volume chart, which gave a buy signal in late June. This is the longest upward that the stock has seen in sometime. InterDigital is my favorite stock in this market right now.

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Bank of America Corp (NYSE:BAC) looks really strong here, breaking out of strong resistance range on good volume and taking out the highs of May and August. I really like this for a swing trade up to last March highs.

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Yesterday, Alpha Natural Resources, Inc.(NYSE:ANR) has formed a Strong Bullish Candle on the daily charts closing just under the key resistance level at 6.96. Looking at technical chart we have now macd’s heading up and the RSI above the 50 line. It has to break 6.96 and possibly 7 before the movement is a confirmed one.

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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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