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Sunday, February 23, 2014 

Stocks to Watch for February 24, 2014

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InterOil Corporation (NYSE:IOC) after consolidating during the past weeks the stock witnessed fresh buying on last Friday, closing the day with a gain of 3.21% with high volumes and above its 50-day EMA for the first time since December 2013. The price action appears positive and based on chart above may move up to 60/60.51 on volume trading next week. Strong support for the stock exists at 55.42

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Codexis, Inc. (NASDAQ:CDXS) did not break out from the flag formation last week. Instead the stock consolidated further. The stock is now near the apex of the triangle and there is a higher possibility it may break out from that in coming week. Breakout point is now 1.96 and target price is 2.41.

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Acasti Pharma Inc (NASDAQ:ACST) is a stock that has been basing for a while here and technically is due for a break out. Looking at the chart above we can see a strong support and buyers coming in around 1.2-1.25 area. At present levels the stock is undervalued IMHO. We have witnessed a dry up in volume as its basing, which could mean that traders are slowly waking up to this fact. The stock's 12-month high of $4.20 is also a huge catalyst for an amazing bounce.

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Rare Element Resources Ltd (NYSEMKT:REE) Large volume last week. This is a candidate for a breakout. The MACD indicator is rising in positive territory and is above the signal line, supporting the bullish scenario. 1.70 is the pivot level to watch.

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Rambus Inc. (NASDAQ:RMBS) made a very bullish move last week breaking several key resistances with moderate volumes. At this point the stock remains bullish as price is above all EMA’s and MACD is starting to move above 0. Next buy point when clears 9.59 on volume.

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XOMA Corp (NASDAQ:XOMA) had a strong bullish candle in the last trading session with high volumes. The next key resistance lies at 8.99. If a breakout happens we can see a target of 11. So far, all technical indicators are in favor of an upward price movement. The MACD has generated a buy signal on Friday and is currently above the 0 line. All EMA’s are below the current price. Long setup.

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Thompson Creek Metals Company Inc (NYSE:TC) Big rally on volume Friday closing with a gain of 7.87% amid high volatility. Next buy point when clears this resistance area on volume.

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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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