Stocks Watchlist For Thursday, October 18

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Arena Pharmaceuticals, Inc.(NASDAQ:ARNA) broke an ascending triangle area pattern today and could go to $11 very soon. Volume confirms. Buy as close to 9.50 as possible. The technical chart above shows very strong upward momentum as the stock is above the major moving averages with both 50 day and 200 day moving average going up. All indicators still point to a bull market. I tweeted the breakout at 9.55.

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InterDigital, Inc. (NASDAQ:IDCC) The technical daily chart still giving clear clues on market makers intentions. The CMF shows accumulation since the beginning of month and daily stochastic poised to cross higher. Also significant was that the stock closed above a key resistance point of $36. The stock hit a high of $36.20, which is now resistance for Thursday’s continuation move. If the stock can break through resistance, we should see another strong upside move. I continue to keep a close eye on IDCC call activity because there is some elevated October Call options with strike prices significantly above the current market.

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Molycorp Inc (NYSE:MCP) displayed some impressive relative strength with a 5.57% gain. The area comprehended between 11.4 and 11.5 represents a strong resistance. The power of today's move suggests an upward breakout that could impulse MCP's stock to test the September highs at 14.44. MACD made a bullish crossover today and Slow Stochastic is increasing. This shows that investors are bullish on this stock.

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Corning Incorporated (NYSE:GLW) Nice Breakout on high volume. Buyable on a pullback to the pivot. Next resistance lies at $14.4

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VirnetX Holding Corporation (NYSEAMEX:VHC) looks very bullish on charts. The stock made a breakout of its recent high with high volumes and closed above its 200 days SMA of 27.47 Technical indicators are also supporting the bulls. The MACD crossed above the signal line, RSI is moving up & above its 50% level. SMAs are moving up and Stochastic is also moving up and above its 50% level.

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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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AC

Labels: ARNA, GLW, IDCC, MCP, VHC