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Wednesday, June 05, 2013 

Stocks to Watch for June 06, 2013

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Wynn Resorts, Limited (NASDAQ:WYNN) looks very good for a short play. The stock is about to break down below a critical support (EMA50) with the technical chart showing a lot of bearish signs. The MACD is positive but falling rapidly below its signal line. The RSI is already below its 50% level in bearish zone and heading down towards its oversold zone. CMF is negative and there was a decent volume on today's move lower. In my opinion, the correction is not over yet.

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Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) closed below the 50-day EMA for the first time since February. Daily technical indicators are showing bearishness. Lower prices are coming.

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The support at 13.53 (EMA200) on Research In Motion Ltd (NASDAQ:BBRY) has been preserved once again. A small bullish divergence appeared on the CMF. I think it's now time to turn positive, both in the short and medium term.

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Qihoo 360 Technology Co Ltd (NYSE:QIHU) Nice bounce off its 20-day EMA today. If the stock loses this support, there is a lot of downside.

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ECommerce China Dangdang Inc (ADR) (NYSE:DANG) Broke the major reistance on above avg volume, look for more upside.

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Nanosphere, Inc. (NASDAQ:NSPH) is showing a bullish flag. Breakout watch above 4.49

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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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