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Thursday, November 28, 2013 

Stocks to Watch for November 29, 2013

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Himax Technologies, Inc. (NASDAQ:HIMX) surged 10.07% or 95 cents to $10.38 per share on Wednesday, with volume which was nearly 3x above average. The move pushed the stock above the $10 resistance level and produced a pocket pivot buy point. The technical daily chart above suggests that this could be a good time to buy the stock as MACD fast line has just crossed on top over slow line showing buy signal. In addition, long-term trend is still positive as both 100-day and 200-day exponential moving averages are going up. Let's see if tomorrow it breaks over $11.49 and makes a new all-time high.

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AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) had a strong bullish move on Wednesday breaking some key resistance lines with large volume. From a technical standpoint, the positive momentum seems to be back as the stock is back above the 50-day exponential moving average. Plus, the 9-day EMA has crossed above 13-day EMA with the RSI going up and MACD near the positive territory. If the stock can get above 2.15, it would likely start to create a short covering as the short percentage of float is about 6% currently, and 6 days to cover. From a fundamental basis, AVEO is currently undervalued IMHO. It has about $2.53 per share in cash and zero debt. In September, an article published on Forbes reported that the Billionaire and legendary hedge fund manager, Seth Klarman of the Baupost Group owns more than 7% of this stock. So, watch this stock closely.

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Arca Biopharma Inc (NASDAQ:ABIO) The technical daily chart above is showing some positive divergences that should be taken in consideration. The accumulation/distribution indicator signals a reversal of its trend, indicating the stock has been under accumulation. Momentum indicator RSI has reversed its direction. Possibility of bullish rally is high. Short-term target of this stock is 1.69. Stop loss at 1.30 recommended.

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Pandora Media Inc (NYSE:P) has pulled back to the breakout pivot just above the $28. As long as this key support holds, uptrend in Pandora is likely to stay intact.

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General Motors Company (NYSE:GM) Watching for $39.18 breakout. All major indicators are in favor of an upward price movement. MACD has generated a new buy signal and the Relative Strength Index (RSI) is rising again. This momentum could push this stock much higher from here. Keep the stock on your radar for Friday’s trading day.

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Finally, Apple Inc. (NASDAQ:AAPL) broke the trading range on upside after taking support at 20-day EMA. The stock closed the day on Wednesday with a gain of over 2.35% with solid volumes, suggesting accumulation of the stock at current levels. Based on the technical chart, the stock price is likely to touch 570-580 in the short term.

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FormFactor, Inc. (NASDAQ:FORM) potential gap-fill play above $5.52. Keep on watch.

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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.


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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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