Some setups to watch in the week ahead
( click to enlarge )
The trading week was very good for Zynga Inc (NASDAQ:ZNGA) compared to
the situation of the stock 2 weeks ago. A new higher low was formed this
week and a very good rally started on Wednesday which gave the stock a
12% boost in just two days. This move was accompanied by higher volume
compared with the volume the previous week, but not sufficient enough to
hold upward momentum today. Technical indicators on chart are showing
us mixed signs. Bullish signs coming from Stochastics and MACD, while
bearish signs coming from the RSI. At this point, the technical levels
to watch for an entry point will be either $2.52 level or if the stock goes
lower, $2.25 will be another attractive level to accumulate.
( click to enlarge )
Shares of Lattice Semiconductor (NASDAQ:LSCC), rose 4.65% to $4.05 per
share. The stock cleared the downtrend channel of the recent leg down.
Also, last candle is pretty bullish. LSCC is now back to positive trend
as it is now back above 50-DMA. The MACD is also looking very good with a possibility of a cross above
the signal line and with KD rising the stock could be heading for a new
rally. The next key resistance level to watch is at 4.16. Above this level could test 4.5 next.
( click to enlarge )
Visa Inc (NYSE:V) had a remarkable rally this week with solid volume. The
stock didn't only bounce from support near its 50-dma, but was also
able to create a new 52-week high. The RSI is again near the overbought
level, so for the coming week I expect a possible sideway movement.
( click to enlarge )
Nice runner from the buy list yesterday. Looks like the 20-day MA acted as support for the stock, as it was able
to bounce from the downward movement. Green Dot Corporation (NYSE:GDOT)
closed the week with a strong white candle. For next week the upward
movement may continue. A move above $12 could spark a nice short-squeeze.
( click to enlarge )
Tellabs, Inc. (NASDAQ:TLAB) is capable of mounting a nice run in the weeks ahead. The company will commence its share repurchase program on Monday. From a technical standpoint the stock seems to have reversed from its downtrend and could be starting an uptrend. With the MACD turning up and above its signal line, this stock could post a nice rally from current levels.
( click to enlarge )
Baxter International Inc. (NYSE:BAX) broke out from a small ascending
triangle with resistance at 66.88. Target price is at 69.8. Long setup,
but watch out if price fall back in the triangle.
( click to enlarge )
InterDigital, Inc. (NASDAQ:IDCC) chart looks very good. Accumulation
continues to trend higher despite recent pullback. Looks ready to test the recent highs. Next resistance level
to watch 43.08
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
Labels: BAX, GDOT, IDCC, LSCC, TLAB, V, ZNGA
