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Monday, April 08, 2013 

Stocks to Watch for April 9, 2013

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VirnetX Holding Corporation (NYSEAMEX:VHC) displayed some impressive relative strength with a 15.5% gain.  The stock is starting to turn back up and indicators are giving the first bullish signs. If the stock can break through the $20 level, there is a strong chance VHC can run back to the $21.6-22 range. On the downside, a break below $17.82 would be your first sign of weakness. Keep on watch.

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Rambus Inc. (NASDAQ:RMBS) broke through resistance on Friday and was able to sustain this move today. The stock hit a high of $6.03, which is resistance for Tuesday’s move. If RMBS can break through resistance, we should see a nice follow through move. 

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Monster Beverage Corp (NASDAQ:MNST) broke above the strong horizontal resistance of $51.09 to close at $52.01. Further rally could be seen to retest $54 medium term resistance. As long as the stock stay above $48.5 area,  the short-term bullish scenario still intact.

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Shares of FormFactor, Inc. (NASDAQ:FORM) rose 21 cents, or 4.78%, in Monday's session, closing at $4.60. The technical daily chart shows the stock bounced back as RSI indicator was at oversold level. In adidition, the stochastics is showing a bottom and rebound is likely going to happen. Let's keep an eye on FORM as i think momentum will pick up.

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Tellabs, Inc. (NASDAQ:TLAB) presents a potential bounce play. Shares are trading below book value, which is about $3 per share and cash levels 2.24. I think we can see a nice bounce here.

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Bank of America Corp (NYSE:BAC) Nice bullish candlestick today. Looks like the stock wants to break this horizontal resistance line and back above the 20-day SMA.

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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