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Tuesday, July 30, 2013 

Stocks to Watch for July 31, 2013

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Las Vegas Sands Corp. (NYSE:LVS) had a nice rebound a few weeks ago and has been consolidating here. The stock is displaying upside momentum again and is poised to move higher from these levels. Nearest resistance is at $56.55. If this level is crossed and the stock is able to sustain above this level, then it might go to $60. On the technical side, chart also indicates bullish sign as the 20-day exp moving average has crossed above 50-day exp moving average with AC/DT line going up and MACD in positive territory. Stop 53.85 

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The longer-term daily chart is still looking bullish but there are signs of weakness. The stock price formed a small rounding top pattern and dropped to the 240 level where it appears to be getting support. The 50-day exp moving average is currently at 232.66, which is just below the support level of 240. A drop below this support will form a bearish pattern which can open the doors to a deeper correction.  The technical daily indicators are beginning to look bearish. The MACD is below its signal line and the RSI is about to drop below 50. The short-term trend is bearish and a move to the 50-day EMA appears likely IMHO

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Facebook Inc (NASDAQ:FB) Technical indicators are in extreme overbought conditions. Use dips to add. 

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NVIDIA Corporation (NASDAQ:NVDA) The near-term trend is slightly bearish and the stock faces a strong resistance at 14.80. A close above this range is a pre-requisite for the reversal of the bearish trend.

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Inovio Pharmaceuticals Inc (NYSEMKT:INO) broke out from a sidewards movement with huge volume creating a significant amount of bullish potential. The technical chart above shows very strong upward momentum as the stock is above the 20/50 and 200-day exp moving averages. All indicators still point to a bull market. Keep INO on your radar for Wednesday’strading day.

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American Axle & Manufact. Holdings, Inc. (NYSE:AXL) Potential breakout play. Watching over 19.71 with resistance at 19.81. 

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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