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Saturday, March 08, 2014 

Stocks to Watch for March 10, 2014

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WidePoint Corporation (NYSEMKT:WYY) The stock has found resistance for the third time around the 1.67 level. I expect a break of this resistance next week as the short-term outlook is now mildly bullish. If the resistance breaks then further gains towards 1.79 or even for a test of psychological 2 may take place. From a technical standpoint, the technical indicators are in bullish zones. The MACD is moving above its signal line in positive territory and the RSI is moving upwards above its 50% level. All five EMAs are rising and the stock is trading above them. In addition, the trend of the indicator ADX is now starting to increase again, which indicates a long signal.

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The overall outlook for Facebook Inc (NASDAQ:FB) stays bullish but the immediate outlook is neutral. The stock is finding the support of 9-day exp moving average currently. If the support holds then further upward gains towards 71.44 and then possibly 71.97 are expected. However, some momentum indicators are showing negative divergences. Hence some caution is required at this point.

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Plug Power Inc (NASDAQ:PLUG) is one of the hottest stocks of Nasdaq right now. The stock has been on a non-stop rally since November of 2013 and yesterday it was once again one of the biggest gainers on the NASDAQ, hitting a new 52-week high of $8.35 during intra-day trading. Watch Monday's action for a possible breakout over 8.35. However, this MONSTER stock needs a rest and I'd would like to see a healthy pullback here to work off overbought conditions.

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Hewlett-Packard Company (NYSE:HPQ) may be close to breaking to new highs here. The stock has been consolidating the past few weeks, trading in a range with top 30.5 and bottom 29. The volume is starting to pick up and there could be a good short squeeze if the stock breaks out above this range with strong volume. Next week will be for sure a key week for the stock. Keep it on watch.

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Terra Tech Corp (OTCMKTS:TRTC) has been doing well this year and last week broke out a short consolidation phase at 60c followed by volume, so keep this stock in your watchlist. A retest of the highs is likely.

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E Commerce China Dangdang Inc (NYSE:DANG) Remains under strong buying pressure, however the stock is in an extreme overbought condition, with the 14-day RSI reaching close to 90. Only a break above $19.05 will open doors for much higher.

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Ventrus Biosciences Inc (NASDAQ:VTUS) Ready for a bounce. The stock price has been floating around this range (1.40/1.50) for several trading sessions in a row and I think we could see a sharp move higher from here. The technical indicator MACD triggered a buy signal last week, conditions are favorable for a set up. The key level of resistance is the $1.77 level or close to 25% higher than Friday's close. I remain patient and holding a long position.

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Rambus Inc. (NASDAQ:RMBS) may be ready to break !! My outlook stays same as last month. A break over 9.81 resistance should take it towards 10.2 to 10.57 resistance area. The psychological pressure of the 10 level may bring some selling pressure but as long as the support over 9.15 holds I expect a break over 10 sooner or later. All Indicators are Bullish, so we could see a continuation of the movement.

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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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