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Saturday, March 19, 2016 

Chart Setups for Week of March 21st, 2016

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Amazon (NASDAQ:AMZN) continued decline on Friday, with relatively high volumes. The stock continues to trade within a range with the 200-day EMA continuing to hold the downside. Daily technical indicators are looking bearish to me, but remain in bullish zones. The MACD has dropped down to touch its signal line in positive territory and the RSI has just slipped below its 50 level. The bias is now neutral to bearish in nearest term, and we need a consistent move below the 200EMA located at 545.83 to continue the bearish scenario. On the other hand, a breakout above 585 could trigger a rally that might get the price back to 620.

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Advanced Micro Devices, Inc. (NASDAQ:AMD) Continues to breakout and now up 36.92% this month. Might pause around $3 but looking to add on any dip. The stock seems too extended to chase. Keep stop losses tight, as risk is significant to both sides here.

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Tetraphase Pharmaceuticals Inc (NASDAQ:TTPH) Old alert. Strong bounce on 3x the daily volume avg. Key resistance is now located at $4.29 (20EMA), a break above this level will confirm a new bullish trend and the following uptrend will take price up to $5 zone. The A/D is moving higher, which is a sign of growing strength in the stock (accumulation).

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Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI) Broke out Friday on good volume. This stock continues to show strength as the rise in volume confirms the price uptick. No resistances above.

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Pool Corporation (NASDAQ:POOL) closed Friday with a gain of 1.7% to a new historic mark for stock at $85.64, near the highs of the day at $85.85. I'll be watching the stock next week, looking for a follow through move. As long as the stock stay above the rising 20-day EMA, the short-term bullish scenario still intact.

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TESARO Inc (NASDAQ:TSRO) has also a good looking chart, it just broke a bull flag to the upside. $48 is an important resistance, that once broken, will set off a huge run up in stock, the 1st target would be $53.84 which is the high of December.

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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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