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Saturday, September 06, 2014 

Stocks to Watch for September 8, 2014

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Apple Inc. (NASDAQ:AAPL) stock continues to show relative weakness to the market and the chances of a pullback to its 50-day exponential moving average remain intact. Investors and traders should beware of the heavy selling volume that occurred on Wednesday's ugly-looking reversal day. Only a break and close above the $100 level on higher volume would shift the near-term bias back to the topside for a potential move up toward 102.5 next. For now, the near- term trend remains bearish for an immediate target of 96.56 (EMA50).

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Facebook Inc (NASDAQ:FB) It's worth a look next week, as the stock exhibited good relative strength on Friday closing near the all-time high that it hit earlier this week. At this point, an ideal opportunity to open a new long position would be when it breaks out its Sept 3 peak of 77.48 on higher volume. A stop-loss should be located at 74.73 (EMA20).

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Bitauto Hldg Ltd (NYSE:BITA) The daily chart is exhibiting signs of topping. Indicators are displaying negative divergences as they failed to make new highs as highlighted in the chart above, so the Bulls have to be cautious.

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Yelp Inc (NYSE:YELP) The near-term indicators are now declining and displaying negative divergences. The daily MACD is about to roll over into a new sell signal as highlighted in the chart above. This could be just the start of a new leg down for the stock targeting the 70 level.

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Rediff India Limited (NASDAQ:REDF) Thin name. It made a strong breakout last week from symmetrical triangle. A long position can still be opened using the 200-day EMA as line of support.

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Western Digital Corp (NASDAQ:WDC) stock is starting to break down. The stock seems to have broken a rising wedge last week on decent volume. Additionally, note that the MACD line continues to slope downwards. We could see levels of 98 in the short-term easily.

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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.

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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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