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Thursday, May 09, 2013 

Stocks to Watch for May 10, 2013

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The Western Union Company (NYSE:WU) had a very nice day as it broke out from a nice bull flag formation on solid volume. I want to see more follow through from this stock tomorrow.

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Micron Technology, Inc. (NASDAQ:MU) hit a new 52-week high and held up very well when the nasdaq was tanking. The stock hit a high of $10.75 which is now resistance for Friday‚Äôs follow through move. From a technical standpoint, the stock is well above the major EMA's, which are all moving up and the Relative Strength Index indicator (RSI) has moved up into the overbought zone. The MACD is rising in the positive zone and is above the signal line. In my opinion, the bulls may continue their domination for a while longer, but you should be prepared for a quick correction.

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Shares of MGIC Investment Corp. (NYSE:MTG) had a nice surge a few weeks ago and has been consolidating that move since then. Looking at the technical chart, we can see some positive technical signals, bullish MACD crossover, rising RSI line and the moving averages moving upwards. At this point, the next buy area is when it clears the 6.19 resistance on volume.

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Zagg Inc (NASDAQ:ZAGG) Possible bottom play. Oversold conditions. Long above $5.23 with a stop at 4.74

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Wynn Resorts, Limited (NASDAQ:WYNN) Holding up well. Alert for $140 in case this one decides to breakout.

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K12 Inc. (NYSE:LRN) made a strong upside reversal. The chart suggests that stock might find now resistance at $26.07. Only a close above this level would suggest further upside.

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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