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Tuesday, April 28, 2015 

Stocks to keep an eye on April 29, 2015

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58 com Inc (NYSE:WUBA) broke the rising wedge chart pattern to the downside (bearish reversal) that was previously published here on decent volume. A retracement to 71.06 (13EMA), 70 or 66.54 seems likely. The technical indicators are also supporting a possible correction.

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Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) stock has broken out of a major resistance area that targets a move to 14 in the short-term. If it can clear this big resistance hurdle around the $14 level a rally to retest of $15.30 or more appears possible.

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Medivation Inc (NASDAQ:MDVN) failed to close above the resistance level of $129 (13 & 20EMAs). This resulted in a sharp drop today. The recent price patterns suggest that the downward move could continue. A decline to the 118-115 range appears likely. A close below $115 would impart further weakness and would push the stock to the $106.59-110 range.

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BlackBerry Ltd (NASDAQ:BBRY) Lets take a look at BBRY’s activity in the light of the recent successive price increases. Looking at the daily technical chart, we can see that the stock is positively reacting to the recent events. It is still consolidating as seen from the intertwining of the 3 major exponential moving average lines. The good side of this stock technically is that the MACD is still  rising above the "0" line and RSI above its 50% level, so this stock is still bullish for now even if it is still consolidating. Keep an eye for a possible breakout over 10.46

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500 com Ltd (NYSE:WBAI) The stock has failed around the strong resistance at 18 again and the daily MACD is about to trigger a sell signal. You know my opinion about the funfamentals of this company. Technically, the trend is reversing to the downside.

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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