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Monday, June 24, 2013 

Stocks to Watch for June 25, 2013

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Herbalife Ltd. (NYSE:HLF) shares closed sligthly below the 200-day exp moving average of $43.78. If the stock price remain below this level, traders will assess this development as a sign of weakness. The current support and resistance levels for HLF are $42.09 and $45.80 respectively. Technicals are displaying negative divergences.

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Caterpillar Inc. (NYSE:CAT) is still in a clear downtrend below all the major EMAs. The stock has a strong support at $80. If it falls below this level, then it can possibly go down to $75 area. Looking at the daily chart, the MACD still falling and no sign of reversal yet. Short term momentum indicators, such as RSI and Stochastics are oversold but have not yet showed technical signs of a recovery. The risk/reward ratio at this moment is not in favour of the bulls and fresh long positions must be avoided untill the stock shows clear signs of bottoming out.

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Novavax, Inc. (NASDAQ:NVAX) has held support at the 1.85 level and is displaying a screaming buy divergence on the upside. A close above 2.04 will impart bullishness and will help the stock move to the 2.17-2.25 area.

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Hercules Offshore, Inc. (NASDAQ:HERO) I was very impressed today with the strong bounce off the 200-day EMA in a weak market. We should be watching for a follow-through day to confirm that a new uptrend is under way.

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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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