Six stocks I like for next week
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EXCO Resources Inc (NYSE:XCO) displayed relative strength last week and
broke out above resistance at the $6.76 level. XCO still showing strong
accumulation on up days with high volume and selling on low volume. The
overall outlook for the stock appears bullish IMO. Only a close below
$6.5 would negate the bullish outlook for the stock. A close above $7.17
would reinstate short-term bullish trend that could propel the stock to
the next target zone of $7.88.
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FormFactor, Inc.(NASDAQ:FORM) looks to have solid support at these
prices and should start to trend higher from here. It's trading within a
rising channel. FORM's stock has just touched the bottom of the channel
and rebounced from there. In addition, the accumulation line starts to
turn up, RSI is above 50 and has broken above its downtrend line. This
company is in the midst of a turnaround and I expect the stock price to
start to rise in anticipation. Early this month DA Davidson initiated the stock with a "Buy" rating and a price target of $12. They believe FormFactor is ready for "a return to profitability as the
industry recovers and could more than double within just a year.
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Agnico-Eagle Mines Limited (NYSE:AEM) - I had this stock on my
watchlist and it did not disappoint. The stock rallied from its Monday
morning lows of $31.98 to $39.98 on Friday. That's a +24% rise. At this
point, a short-term pullback would not surprise, but as long as price
does not break below $34.56 the outlook is positive.
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Career Education Corp. (NASDAQ:CECO) is still in bottoming mode it looks
like. The technical indicators are looking better now for the stock.
The MACD is starting to rise, confirming a bullish divergence has taken
form. Short-term levels to watch tomorrow $7.47 and then $7.85.
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PulteGroup, Inc. (NYSE:PHM) broke out on Friday and traded nearly 2x
normal daily volume. The stock has the potential to make a big run next
week, so keep a close eye on PHM and don’t miss the trade.
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Ascending triangle in formation in Kohl's Corporation (NYSE:KSS)
daily charts. One can enter above $52.30 for a target of 57 keeping the
stoploss at 49.85. Decreasing volumes and increasing RSI indicator adds
strength to the pattern in formation.
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Labels: AEM, CECO, EXCO, FORM, KSS, PHM
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