Stock Picks for Tuesday October 02, 2012
( click to enlarge )
Research In Motion Limited (USA) (NASDAQ:RIMM) continues to show
relative strength. The stock rose 4.8% on heavy volume. The
recent bounce is doing a lot to improve the technical picture. The
indicators are beginning to favour a further up move. The MACD is back
in positive zone and is above the signal line. Additionally, the slow
stoch has moved above the 50% level in a V shaped rebound while the RSI
is rising above the 50% level, supporting a short term uptrend. My first target is the $8.35-8.50 range.
( click to enlarge )
I see no change from my previous updates. Shares of InterDigital, Inc. (NASDAQ:IDCC) have been out performing the
market and it cleared resistance in the $36-36.11 zone during the
Thursday's trading session. The stock is now hitting new four-month
highs. My first target is $40. Second target is $46. The stock
appears to have heavy resistance in the $40.50-40.92 zone. I still
holding my shares.
( click to enlarge )
iSoftStone Holdings Ltd (ADR) (NYSE:ISS) Seems
like a good risk/reward at present levels and could get some momentum
above $5.51. The company provides various information technology (IT)
services and solutions in the Greater China and internationally. The
stock is trading pratically at book value, it has 1.07 cash per share
and no debt. It's a China stock, but I like the fact it's not a reverse
merger as it it had its IPO in January 2011.
( click to enlarge )
Meru Networks, Inc. (NASDAQ:MERU) - Break out watch over 3.51/3.55
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.
Thanks for visiting AC Investor Blog.
AC
