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Wednesday, May 21, 2014 

Stocks to Watch for May 22, 2014

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Rentech, Inc. (NASDAQ:RTK) broke through resistance at $2.37, but was not able to gather must momentum. Wait a clear confirmation. Technical indicators such as RSI and MACD show buy signal as RSI is rising in bullish territory and MACD is on top of signal line.

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Procera Networks Inc (NASDAQ:PKT) has been trading around its 20-day EMA in the last trading sessions and the stock appears to have successfully reversed its downtrend. PKT has some noticeable indicators suggesting that the stock is ready to make a move. The RSI indicator looks like it's on the edge of crossing back over 50% level and MACD is still showing a positive divergence. From the insider transactions, Directors of the company are very bullish as they have purchased total of 105,000 shares in the last weeks. In addition 77% of outstanding shares are held by institutional investors.

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Himax Technologies, Inc.(NASDAQ:HIMX) Today's move confirms that the bounce is still in play and far from over.

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Reynolds American, Inc. (NYSE:RAI) has been on fire the past few weeks, and looks ready to make another upside move. The stock broke out of a consolidation range as the stock closed up $2.51 on the day. Wednesday’s high was $60, which is resistance for Thursday’s continuation move. As long as the stock stay above the $56 area, the bullish scenario is still intact.

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Lithium Exploration Group Inc (OTCMKTS:LEXG) broke out from a sidewards movement with huge volume, creating a significant amount of bullish potential. On the technical side, MACD and ADX all point to upward trend while RSI is also rising but hasn't yet reached overbought level. The stock broke through its 100-day EMA and should continue to move. LEXG has a lot of upside potential, so watch it closely on Thursday.

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First Solar, Inc. (NASDAQ:FSLR) had a nice bounce today on decent volume and I expect more tomorrow.

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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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