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Friday, July 04, 2014 

Stocks to Watch for July 07, 2014

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AXT Inc (NASDAQ:AXTI) was a stock I alerted to my twiter followers on Thursday as a bottom trade. The stock closed near the highs of the day and above its 50-day EMA for the first time since May on stronger than normal volume. The technical chart shows a stock that is starting to breakout and I would look to the $2.55/2.6 area as the next point of resistance. The bias is likely to remain positive as long as the stock price sustains above 2.06. If we see follow-through on Monday the stock might run hard. From a fundamental standpoint the company is also interesting, it has no debt, trades below book value of $4.14 and has $1.39 cash per share. Keep AXTI on your radar screens.

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Short covering in some coal stocks produced some strong gains on Thursday. Shares of Walter Energy, Inc. (NYSE:WLT) broke through resistance at $6 and closed above its 50-day exp moving average for the first time since Januray. This could be a significant turning point for stock.

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For the past four months J.C. Penney Company, Inc. (NYSE:JCP) stock price has been moving sideways mostly flat since May. Connecting the peaks and lows since then, it seems that JCP´s stock may be in a symmetrical triangle formation. The momentum in the short-term remains bullish with MACD trending upwards above its signal line. A close above 9.54 would be required to turn the near-term bias significantly toward buying trades. You should keep this stock on your radar next week.

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Rambus Inc. (NASDAQ:RMBS) is currently consolidating after having moved up nearly 30 per cent in recent weeks. A breakout above 14.82 would position the stock price to test next resistance at around 16.

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Datawatch Corporation (NASDAQ:DWCH) Nice bottom base here. The Momentum has turned bullish and a break above resistance at 16.31 would open the door for a rally to 20. I bought this stock on Thursday. Nice to see that George Soros bought a position in the company in the first quarter of this year. This is a low float stock that could be ready to soar :)

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Peabody Energy Corporation (NYSE:BTU) showed some strength on Thursday and closed nicely above the 20-day EMA with solid volume. At this level, we should see the stock retest the resistance located at $17.10 followed by $17.21. The support level is adjusted to $16.11

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Fifth Third Bancorp (NASDAQ:FITB) Likely to accelerate on a break above the key resistance level loacted at 21.67

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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