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Tuesday, February 26, 2013 

Wednesday February 27th watchlist

Hi everyone,

Trade setups to keep on your trading watch list :

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Research In Motion Ltd (NASDAQ:BBRY) refused to closed below the $13 level again. However, the indicators still indicate a bearish tone on daily charts. The major support level is now located at $12 and the resistance is still at $14.02.  I would buy this stock if it manages to close over 50-day SMA.

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Shares of AXT Inc (NASDAQ:AXTI) surged 5.7% or 16 cents to $2.96 after the company projected first-quarter revenue that was higher than analyst's estimates. Dave Kang, an analyst with B. Riley & Co. in San Francisco recommends adding to AXT Inc. positions. Shares are Buy rated with a $4.60 price target, up from $4. If it breaks out from this channel we could easily see the stock move in the range of 3.10 to 3.60. The technical daily chart above shows new rally has just begun as %K line has just crossed on top over %D line. Nice bottom base here.

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From a technical standpoint, the stock is bouncing hard to the upside above both its 50-day sma at $1.24 and its 20-day SMA at $1.38 with heavy upside volume. Camelot Information Systems Inc (ADR) (NYSE:CIS) has been in a strong uptrend for the last two months, with shares moving higher from its low of 95 cents to its recent high of $1.58. Keeping my eye on this one.

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Zagg Inc (NASDAQ:ZAGG) closed up on Tuesday and should continue higher on Wednesday. The company reported earnings after the close and the market loved what they saw. ZAGG is trading up after hours and I expect it to gap open on Wednesday. I'm using the Jan 8th high of $7,95 as resistance.

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Pandora Media Inc (NYSE:P) retested the 9-day SMA and failed to close over that level. We should see a potential upside if the stock manages to close over the 9-day SMA.

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NVIDIA Corporation (NASDAQ:NVDA) showed some nice strength today. The stock closed nicely above the major short-term MA levels with solid volume. At this level, we should see the stock retest the resistance located at $12.68 followed by $12.72. The support level is adjusted to $11.98.

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

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  • I'm a 38 year old Independent Trader using propriety technical analysis with more than 18 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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