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Wednesday, August 28, 2013 

Stocks to Watch for August 29, 2013

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NXP Semiconductors NV (NASDAQ:NXPI) broke out of a small consolidation pattern that it has been in for a month and jumped $1.79 or 5.05%, today on higher-than-average volume. Today's strong action suggests that we could see continuation of the trend in the next couple of sessions. Short-term target range between 38.80 and 39.

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TiVo Inc. (NASDAQ:TIVO) today jumped 61 cents or 5.56%, after reported fiscal Q2 earnings that shattered analyst forecasts and issued upbeat Q3 revenue guidance. The stock closed at 11.58, just slightly below its major resistance level of 11.88, which is highly possible to be broken IMO

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Zale Corporation (NYSE:ZLC) jumped $2.67 or 29.80% today, breaking key resistance at 10.49 as well 3 months of consolidation. The stock closed at $11.63, the highest close in more than 4 years. At this point, it would be preferable to wait for a slightly pullback to get long.

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LyondellBasell Industries NV (NYSE:LYB) After a nice rally from mid-April to July, in which the stock was up 30%, the stock has been consolidated for the last two months in an ascending triangle formation, whose top line in the 71.3 area. If a breakout above this resistance level occurs, we could see the stock price next reach the 78-79 area.

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Looking at the technical chart above, the stock is clearly in downtrend as it continues to trade below the major moving averages. There are no signs of a recovery in stock price. At the present moment, there is a risk of a drop. Stop-loss for long positions may be placed at 6.64. On the upside, a close above 7.16 would impart bullish momentum.

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Key Energy Services, Inc. (NYSE:KEG) appears ready for a breakout above key resistance at 7.20 area. If breakout above the 200-day exponential moving average occurs, I expect to see the KEG move toward the 7.5-7.8 area.

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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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