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Wednesday, February 17, 2016 

Stocks to Watch for February 18, 2016

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United States Steel Corporation (NYSE:X) is finally stepping up after weeks of frustration. The stock price is building momentum and broke today the downtrend line that it established since August 2015 on high volumes with 9.52 as the first upside objective. Long setup.

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AK Steel Holding Corporation (NYSE:AKS) Another nice breakout. The price finally broke and closed above the declining 100-day EMA. If this daily technical chart does what is supposed to do, the price will be going higher in the days to come, plenty of room to upside.

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Kinder Morgan Inc (NYSE:KMI) finally broke above key resistance in today's trading session. Go long on the break of Wednesday’s high at 17.62

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Ceres Inc (NASDAQ:CERE) hit my scanner today with volume 2x above avg and closed up 9.45%. The stock may be forming a bottom after being in a downtrend for weeks. It has a good base at 22c which can be used as a stop loss for long position. On the upper side, the move is likely to accelerate above 33c. I expect some follow through on Thursday.

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Volume was decent today and the trading action was also encouraging. Traders bought the dip several times near the $7.05 level. BlackBerry Ltd (NASDAQ:BBRY) is starting to turn back up and technical indicators are giving the first bullish signs. The Stochastic Oscillator is registering a bullish signal as the %K has crossed above the %D and RSI/MACD are also rising. The stock has the following important levels. Resistance at $7.38 and support at $6.98

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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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