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Tuesday, August 20, 2013 

Stocks to Watch for August 21, 2013

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Goodrich Petroleum Corporation (NYSE:GDP) made a strong upside reversal today. The technical chart above suggests that stock might find now resistance at $23.25. Only a close above this level would suggest further upside. The bias still bullish in nearest term. Fresh buying may be considered on a move past $23.25, with a stop-loss at $21.34 (9EMA).

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Procera Networks Inc (NASDAQ:PKT) was recomended today by financial analysts at Northland Securities. They recommend buying the stock based on expectations for a rise in gross margins and new partnerships that support revenue growth targets. Shares are Outperform rated with a $21 price target. Technically speaking the stock made a nice bullish hammer candlestick, so in my humble opinion it could be a good entry point to start a long position. In addition, the stock remains in very oversold conditions.

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Assured Guaranty Ltd. (NYSE:AGO) showed more signs of strength on today's session, as the stock closed up $.29 on the day. The stock has strong resistance around $9.50, and breaking above could take the stock to $10 in a very short time frame.

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AngloGold Ashanti Limited (NYSE:AU) On my watch list for tomorrow. Nice clean bounce off the 13-day EMA today. It will interesting to see if it can break 15.12

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If the weakness continues and Zynga Inc (NASDAQ:ZNGA) breaks the support at $2.7, there will be a good chance that the stock will test the next key support at $2.5. Technically, there is nothing positive about the technical chart. All other indicators still point to a bear market.

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Barrick Gold Corporation (NYSE:ABX) remains in a short up trend. Further rise to test 22 resistance is still possible, and a break of 20.25 will confirm such case. Initial support is at 18.69. Most of the technical indicators are pointing towards some more upside in the coming sessions.

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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