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Saturday, June 13, 2015 

Stocks to keep an eye on June 15, 2015

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Time for Action! Ocwen Financial Corp (NYSE:OCN) has been showing relative strength for the last few days and closed on Friday above the 100-day EMA for the first time since January 2014. At this point the stock is set to test its line of resistance around 11.30 marked in early part of May. If the stock clears this key line of resistance, it would be a good opportunity to open a long position. From a technical standpoint the current up-trend is looking good. The MACD just flashed a buy on Friday while the RSI is moving above the 50% level. The ADX is also showing positive signals, which suggests this trend could continue for some more sessions.

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Zynga Inc (NASDAQ:ZNGA) From a technical standpoint, the stock looks to be within a pennant formation which may push it to higher highs in the coming sessions. Pivot Point at 3.06 with a preference to go long at 3.13 on volume.

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Solazyme Inc (NASDAQ:SZYM) Stock is trying to come out of a four-week long base pattern on rising volume. Once the stock breaks out and closes above the 3.50 mark, it could rise sharply as there is not much resistance up until 4.43 level. The MACD indicator just flashed a new buy while momentum looks ready to cross into positive territory. The ADX is also starting to point upwards showing an increased and renewed bullish movement.

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Paragon Offshore PLC (NYSE:PGN) demonstrates bullish bias on daily charts supported by positive moves of momentum indicators. Let's see if the stock is able to muster enough interest next week from investors to break through and clear the 1.75 level. Watch out for volume at the breakout as it could be an early indicator of investors interest.

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Friday marked an important shift in JD Com Inc (NASDAQ:JD) shares as they closed above the major resistance line that has been forming since April. The stock hit a high of $38, which is now resistance for Monday’s continuation move.

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Facebook Inc (NASDAQ:FB) retested the immediate resistance last week but failed to close over that level. Support continued to be located at $80.5 and any close below that level would be bearish or might retest the 100-day EMA again. On the other hand, any close above $83 would have major positive implications from a short-term perspective.

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Shares of XOMA Corp (NASDAQ:XOMA) closed down 2.91% to $3.67 on low volume in Friday's regular trading session. Let’s now take a look again at daily technical chart. I notice that the Accumulation/Distribution indicator still growing, which means accumulation (buying). Plus, MACD chart is still showing an up trend with the MACD indicator above its signal line and is indicating further strength. The RSI value is also currently above 50% level but it has not reached the overbought territory. If it clears resistance next week at 3.89 the move may be powerful. PS: Very high call activity has been detected.

Have a great weekend !!!

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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