Thursday's Stocks to Watch, Mar 14
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Research In Motion Ltd (NASDAQ:BBRY) broke out of a symmetrical triangle pattern on the upside accompanied with expanding volume. Upside target of 22. Resistance at 17.22 and 18.32 which are the previous highs. The stock traded heavy volume as it hit a high of $15.70. This high is resistance for Thursday’s continuation move. If the stock can break through this level, I expect to see another strong upside move to $17 and better.
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As I mentioned on Twitter, I keep holding my long position in this stock waiting for a possible breakout. FORM has formed a very crucial and strong support at $4.85 levels and is trading above that level. MACD is just turning positive and ADX gave clear buys signals today, so an upward movement is likely.
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Unisys Corporation (NYSE:UIS) confirmed today the reversal and can potentially set-up very well for a swing-trade if the stock breaks through the resistance level at $24.73. Technical indicators are becoming more favorable with RSI and CMF starting to turn up. There could be good upside in this trade, so watch UIS closely on Thursday.
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Vringo, Inc. (NYSEAMEX:VRNG) closed back over the $3 mark and the volume was good. This is a good stock but needs more volume to sustain its new up move. Price is expected to at least rally the next resistance at $3.16 and even go higher to test the next resistance level at $3.3. The forecast is valid only if the price of VRNG stays above $2.83.
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Joe's Jeans Inc (NASDAQ:JOEZ) showed buying strength all day. The stock is on the verge of breaking out and it could happen very soon. Once the stock breaks $1.66, jump in and watch JOEZ take off. Stop 1.44
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Denison Mines Corp (USA) (NYSEAMEX:DNN) Nice looking breakout with volume. The technical daily chart above shows the momentum indicators have turned up and the RSI is on the rise.
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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.
Thanks for visiting AC Investor Blog.
AC
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: BBRY, DNN, FORM, JOEZ, UIS, VRNG
