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Saturday, September 13, 2014 

Stocks to Watch for September 15, 2014

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MGM Resorts International (NYSE:MGM) shares broke down below support (second bear flag breached) last week on increased volume and selling pressure. The stock has now a strong support around 22.50, but any close below this level could start a NEW sell off. Technically, the stock is in a Bearish mode with MACD below signal line and the price below all EMAs. All other indicators still point in the same direction, DOWN.

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It looks like a symmetrical triangle pattern broken to the downside on the Netflix (NASDAQ:NFLX) chart. This price action was also accompanied with high volume. Momentum is also printing a negative divergence, forecasting lower prices. I would be quite prudent not opening long positions at this levels. Plus, the Associated Press reported this weekend that the company is facing a frosty welcome in France. One of the key markets for Netflix in Europe.

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Intel Corporation (NASDAQ:INTC) also broke a rising wedge last week. Monentum indicators point to continuation of the interim weakness and the stock is likely to test immediate support at 33.38 levels.

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Microsoft Corporation (NASDAQ:MSFT) is starting to lose momentum again. If no position, let it pull back to 45.43 and play the test of the Horizontal support line.

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LinkedIn Corp (NYSE:LNKD) has started the correction last week that i've been predicting. This company is one of the most overvalued stocks on the market, so the pullback could be substantial. Additionally, some top executives have been selling huge amount of shares every week, showing the management also consider the shares overvalued. If the stock breaks below the 222 level next week, it will likely lead to a big swing lower to 205.

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GoPro Inc (NASDAQ:GPRO) After breaking the 60 level last week the stock rallied over 10% this week to make all time-highs around the 70 level on Thursday. The stock has since come off the highs and shows signs of exhaustion. With the MACD below the signal line, I would be prudent in adding long positions here. If a downward correction materializes the key downside levels to watch are: 67.42 and 65.77.

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Im looking for a pullback in Waste Management, Inc. (NYSE:WM) here. The stock printed a bearish MACD signal line crossover in their daily charts on Friday. We will likely see a pullback to test the 45.30-45.5 region next week.

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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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