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Saturday, March 22, 2014 

Stocks to Watch for March 24, 2014

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WPCS International Incorporated(NASDAQ:WPCS) Rallied over 5% Friday on solid volume. The stock is trading near the high end of its two-month range. A break of this resistance level would send it to 2.49. Technically, the short term trend for the the stock is still an uptrend. Daily MACD and RSI are also rising. Both indicators suggest increasing upside momentum, thus most likely the stock price will break up and through the 1.92 mark, which will then act as support for the stock price going forward.

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NII Holdings Inc (NASDAQ:NIHD) broke out of an important consolidation area with heavy volume and will likely have the attention of the swing traders in the next sessions. Daily indicators has RSI just above 35 and MACD has a new bullish crossover. This new rally should at least push the stock to $1.53.

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Cliffs Natural Resources Inc (NYSE:CLF) looks like it is starting to turn. On Friday, the stock price decisively broke through its key resistance at 19.59 by gaining nearly 6 per cent accompanied by good volume. From technical indicators, I continue to see a confluence of "buys", with RSI crossing above 50 and MACD heading up.

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Annaly Capital Management, Inc. (NYSE:NLY) bouncing off EMA200 with bullish RSI/Slow Sto divergence. Looks like a resistance breakout setup forming here within the overall uptrend. The buy trigger will be a trade above the 11.51 mark with high volumes.

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Alcoa Inc (NYSE:AA) The ascending triangle formaiton still in play and positioned for a breakout. Double break and a close above the 12.38 level will be my trigger for a buy trade.

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Marathon Oil Corporation (NYSE:MRO) As the stock broke the 200-day EMA and the key resistance level at around 33.80 I believe we should be looking to buy MRO as long the stock price is trading above the broken level, which now acts as a strong support.

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Could Palatin Technologies, Inc. (NYSEMKT:PTN) be on the verge of a breakout in line with the dominant uptrend ? The buy trigger is above Thursday's high of 1.50. All major indicators are displaying bullish signals.

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Ventrus Biosciences Inc (NASDAQ:VTUS) has been floating around 1.36-1.4 for several trading sessions and I still think the stock could see a sharp move higher from here. Daily chart indicates the stock is tremendously oversold, but the RSI is improving and about to leave the oversold territory. MFI is also showing money flowing into the stock, short term has been on an uptrend. If it breaks higher above 1.41 or 9EMA, it could go as high as 1.70.

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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