Stock Picks for Friday September 14, 2012
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InterDigital, Inc.(NASDAQ:IDCC) has a clear key resistance line just
above the 36 level, which it is approaching having gained 43 cents or
more than 1.23% today, to 35.51. A move above 36.04 would confirm the
breakout, with an initial target of 38.40 and secondary target of 40.68.
Stop is at 33.65. The uptrend is definitely intact, awesome
medium-term hold. The lows are rising and even the peaks are nudging up
and up. Additionally, technical indicators are giving positive signals
as the stock trades above the 200-SMA. The RSI is also rising after
having found support near its previous lows. I believe the stock can
continue its medium-term uptrend and test the $40 levels in the coming
weeks. With over a short interest of 6.14 Million shares and average daily
volume of only 770K, the short interest ratio is at 7.9, meaning it
would take 8 days for all the shares short to be covered.
Any type of good news related with a potential patent sale could launch a wicked short squeeze capable of
adding a 20%-25% gain to the shares in a matter of minutes as we saw last month. Keep IDCC on the radar like a HAWK lol !!
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U.S. Bancorp (NYSE:USB) broke a key resistance line today with an up-move of 93 cents, or 2.74%, to 34.87. Volume surged and this breakout looks
like it is here to stay. There looks to be good upside in USB, so
keep it on your radar the next few days.
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Amazon.com, Inc.(NASDAQ:AMZN) had a good move today, as the stock set
new 52-week highs. The stock hit a high of $262, which is resistance
for the follow through move. The technical chart shows the stock is in a
bull market rally as MACD is on top of signal line and moving upwards.
In addition, the medium term trend is also bullish as the stock is above
50 & 200-day moving averages with both moving averages going up.
You should watch this stock closely on Friday.
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The Walt Disney Company (NYSE:DIS) has made an awesome move today. The stock hit new highs of $52.67, which
is resistance for the follow through move on Friday. If the stock can
break through highs, we should see another high volume move as the stock
moves higher. Keep it on your radar.
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Oracle Corporation (NASDAQ:ORCL) Over 32.81 for a breakout trade.
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Labels: AMZN, DIS, IDCC, ORCL, PCBT, USB
