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Wednesday, May 08, 2013 

Stocks to Watch for May 9, 2013

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Level 3 Communications, Inc. (NYSE:LVLT) is in a clear short-term uptrend and well above its 200EMA, but the recent surge may spur some profit taking. The stock needs to break Wednesday’s high of $24.76 to expect a strong rally at this point.

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Keep a close eye on Scorpio Tankers Inc. (NYSE:STNG). The stock tried to clear the resistance but failed again, watch for the break on heavy volume.

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LinkedIn Corp (NYSE:LNKD) The stock price is approaching the support level again. If the stock makes a confirmed break below the 50EMA without a price recovery, this might suggest that LNKD is set up for a medium term correction. Technicals indicators are looking bearish to me. The MACD is positive but falling below its signal line. The Relative Strength Index indicator (RSI) is trying to regain its 50% level, after dropping below it. In addition, the slow stochastic is below its 30% level. 

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VIVUS, Inc. (NASDAQ:VVUS) had a strong day and broke through its resistance line of one week correction. The volume confirmed the breakout, as it was greater than average. Look for VVUS to test the prior highs of February.

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GT Advanced Technologies Inc (NASDAQ:GTAT) The stock price continues to gain momentum. I definitely like the way its trading and at some point I think it will leap over $4 again.

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The Western Union Company (NYSE:WU) Flagging. Watch the break of 15.82

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There is a potential breakout scenario developing on the daily chart of Lorillard Inc. (NYSE:LO). Buy signal : When stock breaks $43.39

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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.

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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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