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Saturday, October 26, 2013 

Stocks to Watch for October 28, 2013

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Royale Energy, Inc. (NASDAQ:ROYL) is a low volume small cap that may be poised to move higher. The company reported great earnings last week. Entry point would be on the day it blows through $2.8 on heavy volume. The technical daily chart above indicates bullish sign as the 9-day EMA has crossed above 13-day EMA with RSI going up and MACD near the positive territory. If the stock can get above 2.8, it would likely start to create a short covering as the short % of float is about 14% currently, and 14 days to cover ;)

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AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) had a very bullish move last week breaking several resistance lines with large volume. Looking at the technical daily chart above, although the moving average still shows weakness as 50-day EMA is below 200-day EMA, positive momentum seems to be back as the stock is back above 50-day EMA. Plus, MACD is also back above "0" indicating the stock is back in bull market. Also note the HUGE volume over the last days, indicating the stock is under accumulation. AVEO Pharmaceuticals has $3.04 per share in cash and has zero debt. According to Forbes, article published on 9/17/2013, the Billionaire and legendary hedge fund manager, Seth Klarman of the Baupost Group owns more than 7% of this stock.

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Walter Energy, Inc. (NYSE:WLT) is forming a ascending triangle formation on daily. If it breaks, we could see 20 quickly.

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First Solar, Inc. (NASDAQ:FSLR) Looks like a bullish pennant formation here. Play accordingly.

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Trina Solar Limited (NYSE:TSL) Short-term indicators are showing signs of weakness. Consider taking partial profits if it breaks the 20-day EMA.

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The Wendy's Co (NASDAQ:WEN) As long as the stock holds above the $8 support level the intermediate-term picture should remain positive. Fresh exposures may be considered on a move past $8.88, with a short-term stop-loss at $8.5

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Fastenal Company (NASDAQ:FAST) Potential breakout play. Watching over 51.34 with resistance at 52.57.

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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