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Saturday, June 21, 2014 

Stocks to Watch for June 23, 2014

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BlackBerry Ltd (NASDAQ:BBRY) popped on Friday above its major resistance line at 9.71 on huge volume. This strong move confirms the stock's reversal. The uptrend that began in May has steepened in recent sessions after the earnings report, which could be seen as an indication that the stock price may be getting parabolic. Considering this strong momentum in the past week, the stock looks set to break higher above and rally towards 12+ in the near term. Technical indicators are bullish with MACD rising sharply above its signal line and has entered in the positive zone implying upward momentum. Stock price is he major moving averages. Stay invested and use dips to add.

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Lastly, looking at the long term chart we see that stock broke the downtrend line from the 18.32 high with volume expansion. It's a very important breakout because the stock has taken out a trend line, which was holding the up moves since 2013.

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Amkor Technology, Inc. (NASDAQ:AMKR) Friday's action not only confirmed the breakdown below the rising 9-day EMA it also closed below the 20-day EMA on strong selling volume. The next stop is the rising 50-day EMA now located at 9.64. However, the major support is around 9, which coincides with the uptrend trend line.

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Apple Inc. (NASDAQ:AAPL) stock closes the week slightly above the 20-day EMA located at 90.79. This EMA can be seen as a key support zone, which could determine the intermediate stock price direction. The next significant zone of support would be near the 88 level, which if breached may suggest that stock price could test its 50-day EMA. Technical indicators continue showing signs of weakness.

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Sirius XM Holdings Inc. (NASDAQ:SIRI) gained 1.65% last week, but the stock failed to close the week above its 200-day exp moving average on Friday, a sign that the recovery remains fragile. The stock needs to regain this major EMA next week or things could get very ugly. Failure to cross this resistance level can be seen as a setback for investors and could cause the stock to trade sideways or reverse.

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TriQuint Semiconductor (NASDAQ:TQNT) It was on Thursday that I listed this stock on the radar screen as a potential breakdown candidate and that scenario remains a real possibility. Use a trigger below the 15.90 level and target the 50-day EMA at 15. Technical indicators are still showing negative divergences.

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India Globalization Capital, Inc. (NYSEMKT:IGC) This black ugly candle last friday was accompanied by high volume, signaling a possible distribution day for the stock. If it breaks below the 20-day EMA I will certainly consider a short.

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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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