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Friday, August 23, 2013 

Stocks to Watch for August 26, 2013

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James River Coal Company (NASDAQ:JRCC) broke out on Friday from a symmetrical triangle accompanied with high volume. Based on the volume and spread alone, this is a "buy". However, next week you should observe if this bullishness is supported by further white candles with heavy volumes. The target price of this break out is at 2.60.

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Apple Inc. (NASDAQ:AAPL) The stock moved sideways this week, using $500 as support, which possibly indicates that the recent upward momentum is starting to lose some strength. Looking at the MACD and RSI, these major technical indicators have created a lower high , which means a negative divergence is happening and that the stock may start to move down anytime in the very near future. On the other hand, any break above 513.74 would signal a larger move to perhaps 525.

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Goldman Sachs Group Inc (NYSE:GS) still appears to be headed lower after closing the week below its major short-term moving averages. The daily indicators also suggest that further weakness lies ahead for the stock. The immediate support lies 156.51, if this is taken out then we could see further weakness back towards 150 and possibly even to the June lows at 148.71.

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Chesapeake Energy Corporation (NYSE:CHK) finally broke out of the flag formation today and may be headed higher from here.

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Gevo, Inc. (NASDAQ:GEVO) made a strong move higher today with good volume. The stock closed near its high of the day as well which is positive. I Need to see further upside confirmation before adding to current position.

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Ciena Corporation (NASDAQ:CIEN) The stock struggled to stay above its 50-day EMA at 20.95 and closed the week below it for the first time since May, which is a bearish signal and may push the price further down. The immediate support lies at 20.49 and below at 19. The resistance will be seen at 21.29 and 21.64. The AD line is decreasing, indicating money is flowing out of the stock.

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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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