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Tuesday, December 30, 2014 

Stocks to Watch for December 31, 2014

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I'm putting Celldex Therapeutics, Inc.(NASDAQ:CLDX) back on the list for another week. After making a big move in November, the stock has been in a consolidation mode. I feel it is going to make an upside move soon. The volume has been quite modest and the MACD seems to be stabilizing, which could power the rally that I think is coming. Additionally, the stock is still trading above its EMAs with RSI also in the Bullish territory. Resistance is $19.45, which is the top of this small consolidation range. This is a fast moving stock, so watch it closely but use your stops if it fails on the breakout. Im long.

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Toll Brothers Inc (NYSE:TOL) has a very interesting chart as the stock looks to be ready for a good upside move. It closed up $.28 on Tuesday as it hit a high of $33.37 on the day. This high broke above Monday’s high, which is another signal for an upside move. I'm a buyer of TOL once it breaks today’s high and expect to see heavy volume drive the stock higher.

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Shares of BlackBerry Ltd (NASDAQ:BBRY) closed again above the $11 level, a bullish sign that puts the next stage of resistance at $12.54. On the technical chart, we can see a few things going on here. First, the stock is testing a horizontal trendline acting as potential resistance. Also, MACD is indicating a trend reversal to the upside. Last, and definitely not least, we can see that the money seems to be flowing into the stock as indicated by the A/D indicator.

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Mattel, Inc. (NASDAQ:MAT) failed to follow-through to the upside after yesterday's rally. Major support is located at $30.39 while resistance is located at $31.01.

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Neurometrix Inc (NASDAQ:NURO) is set to rock IMHO. The company will unveil Quell, the Company’s Revolutionary wearable pain relief device at CES in Las Vegas in January 2015. This device utilizes NeuroMetrix's proprietary non-invasive neurostimulation technology to provide relief from chronic pain, particularly neuropathic pain such as due to diabetes and lower back problems. From a technical standpoint, the stock has been basing here over the past 11 weeks, while some indicators continue to show positive divergences. A big upside surprise from the CES event next week could be the catalyst needed to help move share prices back above $2 level. I went long today.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is trying to regain the ground that it lost last week. From a technical perspective, the stock has the opportunity to start new rally as %K line is back above %D line. However since the stock overall is still weak as the MACD is still below 0 and the stock is below the major EMAs, wait on the sideline for now before making any investment decision. I feel that a double bottom is a possibility here.

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.


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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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