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Saturday, May 25, 2013 

A few stocks to watch next week

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As of May 15th almost 36% of the float is short ( short interest increased to about 170.6 Million shares, compared with 164.6 Million shares as of April 30 ). Considering the stock has fallen since that date, its definitely safe to say there are many more shorts in this stock then 2 weeks ago, which begs to question, when they will cover ? They are betting on more downside, but at this point the probability of a short squeeze is very high. From a technical standpoint, the medium-term daily chart remains bullish, the stock is trading below its 20-day and 50-day EMAs but well above its rising 200-day EMA. The medium-term bull market is intact, despite being in a bear market in the short-term. Like I've said any major positive news could lead to a major short squeeze.

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Lululemon Athletica inc. (NASDAQ:LULU) I'm still holding my short position. The MACD, RSI, ADX and Stochastics are showing negative directions. As you can see on above chart the uptrend line was broken last week. The stock should test its 50-day EMA sometime next week.

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Facebook Inc (NASDAQ:FB) broke support with a sharp decline that began on Monday. Broken support turns into resistance around 24.80-25 and this is the first level to watch.

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Mercury Systems Inc (NASDAQ:MRCY) - Breakout watch above 9.50

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VirnetX Holding Corporation (NYSEMKT:VHC) Keep an eye on this one, if the stock price breaks above its 50-day EMA on heavy volume, then we will know the next major move up is likely. 

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Things are now beginning to turn in favor of Bulls. VIVUS, Inc. (NASDAQ:VVUS) could breakout again at any moment ! Just look at the way it broke out of its 200-day EMA on strong volume. The trend is definitely your friend here. The MACD also confirms the recent jump and RSI shows that there is more upside to come. VVUS should be watched closely.

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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