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Wednesday, March 06, 2013 

Thursday March 7th watchlist

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Research In Motion Ltd (NASDAQ:BBRY) is quietly gaining momentum. If the stock can manage a breakout above its 50-day SMA on high volume, it would be a great buying opportunity but only on a breakout. Keep it on your watch list going forward.

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Astex Pharmaceuticals, Inc. (NASDAQ:ASTX) High volume Breakout from a Cup and Handle formation. Momentum picking up with MACD climbing and RSI rising. Try to buy on a pullback.

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Amazon.com, Inc. (NASDAQ:AMZN) the technical chart is painting a bullish picture. All the MA's moving up and providing support.

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TD Ameritrade Holding Corp. (NYSE:AMTD) That's a good looking chart. It's a buy on a break of 20.3 with solid volume. Stop 18.35

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The stock is finally starting to break out. Tellabs, Inc. (NASDAQ:TLAB) hit bottom in the low $2's and has started to work its way higher. The 50-day SMA sits at $2.21 and the 200-day SMA is at $2.32. MACD crossover today and should support higher prices on stock in short term. This stock deserves watching going forward.

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Bears have pushed the stock down from the top of the trading range to the bottom again in a hurry. We are at oversold conditions on Stochastics. Although the recent downward move has been impressive, we still remain trapped within a multi-month trading range. On a fundamental basis the stock looks to be undervalued. Shares of AXT Inc (NASDAQ:AXTI) trade at a trailing P/E of 15x with a PEG of just 0.65x, which indicate that the stock is undervalued. This company has no debt and about $46 million of cash, so they have about $1.42 a share in cash. Analysts are bullish on stock. B. Riley recommends adding to AXT Inc positions following the solid Q4 report. Shares are Buy rated with a $4.60 price target, up from $4. In addition, the company recently announced a program authorizing the repurchase of up to $6 million of the Company's common stock. I like this company and have been adding.

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The chart of VirnetX Holding Corporation (NYSEAMEX:VHC) is still looking interesting as it continues to trade within an ascending triangle pattern with resistance at 36.25. That resistance level is the area to watch closely and close above with volume is a strong buy signal.

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 43 year old Independent Trader using proprietary 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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