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Tuesday, May 03, 2016 

Stocks to Watch for May 04, 2016

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Valeant Pharmaceuticals Intl Inc (NYSE:VRX) Despite the bearish market action, the stock performed well closing the day with a gain of 9.59%. It looks to have bottomed technically. The stock is beginning to make a move higher and looks like it is gonna squeeze some shorts here. Any close above $38 could lead to a substantial gain in shares. It should be on your watchlist.

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Vringo, Inc. (NASDAQ:VRNG) finally broke out of the downtrend accompained by a strong volume and look poised to head higher. The stock hit a high of $2.17 which is now resistance for Wednesday’s follow through move. The daily technical chart is displaying a screaming buy divergence on the upside. Expect an initial run up to $2.78 with a break higher moving to the $3.50 zone. Momentum picking up with MACD climbing and RSI rising. Existing insider activity combined with a low float, may be the perfect catalyst needed to spark a short-squeeze buying explosion here. Lets keep an eye on it.

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Jacobs Engineering Group Inc (NYSE:JEC) needs to take out $45.41. The break of the resistance line with heavy volume should be the next buy point.

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Cheesecake Factory Inc (NASDAQ:CAKE) I like the idea of getting long with a stop below its 50EMA. The MACD is making a bullish crossover and the RSI is also rising. On watch.

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Advanced Micro Devices, Inc. (NASDAQ:AMD) There is a bullish pennant formation on daily chart. Play accordingly.

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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.

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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