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Wednesday, August 07, 2013 

Stocks to Watch for August 8, 2013

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ITT Educational Services, Inc. (NYSE:ESI) broke another key resistance today with an up move of 94 cents or 3.11% to 31.20. ESI had been trading sideways over the past 3 months and formed an ascending triangle consolidation pattern. Now the stock may retest its Sept 2012 52-week high at 40.15. Another important factor is the high short interest of 8 million shares or 40% of float, with a short ratio of 22. The technical daily chart above is showing bullish bias. MACD is indicating that the current short term price trend is very bullish. In addition, the AC/DT line is increasing, indicating accumulation of shares in the market. Keep this on your watchlist because the overall market sentiment on ESI is pretty bullish.

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Dominion Resources, Inc. (NYSE:D) Hitting resistance at key level. Play the reaction if no position. A break of the flag could move the stock back up to highs from May in the 61 area.

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Apollo Group Inc (NASDAQ:APOL) The recent increase in trading volume and rising OBV suggests buyers are accumulating stock. A breakout above 21.11 (EMA200) would constitute a technical entry.

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Marvell Technology Group Ltd. (NASDAQ:MRVL) is flagging in the 13 area after a breakout from the 12 level in the last week of July.  Watch for a break of 13.18 to continue the uptrend.

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Dyax Corp. (NASDAQ:DYAX) is flagging off its most recent 90% up move from the 2.26 level in mid-May. A break of the 4.30 level could move the stock to test its all-time high just above 4.50

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DeVry Inc. (NYSE:DV) is at a resistance level in the 33 area going back just one month. If it breaks this area on volume then it may go up to 34.51, which is the 52-week high.

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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.

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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