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Wednesday, January 07, 2015 

Stocks to keep an eye on January 8, 2015

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Shares of Arena Pharmaceuticals, Inc.(NASDAQ:ARNA) soared 76.2% or $2.53 to 5.85 per share on Positive Results from Phase 1b Clinical Trial Evaluating APD334. The technical chart shows the buyers are back. The stock closed above the 200-day exp moving average for the first time since early June, on massive volume. If you are short term trading, go long on the break of resistance at 6.25 or the break of today’s candle high. I will wait for a retracement to get back in.

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Ambarella Inc (NASDAQ:AMBA) broke out of a bullish symmetrical triangle pattern today on a large increase in volume to 4M shares compared to its daily avg of less than 2.2M. Bullish breakout suggests more medium-term upside.

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BlackBerry Ltd (NASDAQ:BBRY) needs to close again above the 11 level on a daily basis in order to mitigate the negative near term view. A breakout from this sideways zone will give us an excellent opportunity for investors to pick up long positions. However, as long as the stock price still in this area, the bias remains neutral. The techical indicators MACD and RSI all point to upward trend. A/D shows accumulation going on despite the recent pullback.

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Penn National Gaming, Inc (NASDAQ:PENN) jumped $1.02 or 7.72% today to 14.23, breaking out above previous levels of resistance on the daily chart. The stock hit a 52-week high of $14.75 in November, but has pulled back the past few weeks. The stock is setting up to make a move back to highs and I will be watching. The technical chart shows very strong upward momentum as the stock is trading above all key exponential moving averages with positive technical indicators, such as an upward-trending MACD.

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Illumina, Inc. (NASDAQ:ILMN) has formed a resistance level at 197 setting up a possible resistance breakout trade.

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King Digital Entertainment PLC (NYSE:KING) Possible bounce trade setup with a retest of the key level at 15.07. Stochastics are at extreme oversold levels, so a bounce here would not be surprising.

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Zynga Inc (NASDAQ:ZNGA) is still coiling just under $2.75 and appears about ready to make a breakout soon. Hold the stock with a stop at $2.59.

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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