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Wednesday, October 09, 2013 

Stocks to Watch for October 10, 2013

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EnteroMedics Inc (NASDAQ:ETRM) has the perfect set up to make a big run. This is a stock that many traders already have on their radar. With a little push at current levels, we could see some amazing momentum, followed with potential stock price appreciation. Given the fact the stock price closed today at $1.29, I think it's safe to say that I like the upside potential relative to the price target of Canaccord ! On Tuesday, Canaccord Genuity reiterated its Buy rating and raised the price target to $3 from $1.50. As more and more investors discover this report, the more and more the excitement around the stock should rise. From a technical standpoint, indicators are suggesting bullish conditions. The Slow Sto and the RSI are above their 50% levels and rising. The MACD is above the signal line and positive. In addition, OBV is moving higher, suggesting steady buying pressure. Blue skies beyond $1.43.

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Elan Corporation, plc (NYSE:ELN) continued to show strength and is still worth watching. Holding up nicely here, consolidating gains after a nice rally. Looks good.

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Amazon.com, Inc. (NASDAQ:AMZN) broke its 50-day EMA today on solid volume, next support at $292.83.

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Exxon Mobil Corporation (NYSE:XOM) If the stock breaks this KEY support line on volume, I will be taking a short position. XOM is trading below its falling 20-day and 50-day EMAs. All major technical indicators are bearish. The MACD is below it signal line, deep inside negative territory and the RSI is also below its 50% level, but trying to rise. Expect a test of key support in coming sessions.

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Facebook Inc (NASDAQ:FB) Technical indicators are looking weak now. The MACD is below its signal line in positive territory and RSI is about to cross below 50% level. The stock needs to regain its 20-day EMA tomorrow or things could get very ugly.

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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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