Stock setups to watch next week
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The technical chart of FormFactor, Inc. (NASDAQ:FORM) is showing a
bullish cup and handle chart pattern in the final stages, which
indicates the stock could be in for a big rally. FORM just needs to
clear the handle base. Additionally, the moving averages are supporting
bullish trend with the 20 and 50 both over the 200-day moving average
and sloping higher. ADX is also suggesting a steady upward movement and
the accumul/distrib indicator still shows that somebody is buying up the
stock. I'm still holding my longs and will add more shares on a move above $6.55, with the expectation of a continued rise to $7-7.5
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Shares of Apple Inc. (NASDAQ:AAPL) closed up 2.63 per cent at 584 with
increasing volumes. Long positions can be considered with a stop loss of
565 on daily closing basis. Initial targets are 590 and 597.
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Shares of Pharmacyclics, Inc. (NASDAQ:PCYC) closed the day gaining
more than 4% to a new historic mark for stock at $54.61, near the highs
of the day at $55.43. The stock has been one of the most amazing runs
of the past four weeks. I'll be watching the stock next week, looking
for a follow through move. As long as the stock stay above $43.31, the
short-term bullish scenario still intact.
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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) - After setting a fresh yearly high at 13.50 on Wednesday the stock started showing bearish divergences and a few sell signals start to develop. However we are still above key support 8.62. On
the upper side, the move is likely to accelerate above $12. Short-term
investors can hold the stock as long as it trades above $8.62
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Altria Group, Inc. (NYSE:MO) broke out from a rectangle pattern
accompanied with decent volume. We should be able to see some decent
upside movement for the bulls here.
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Raytheon Company (NYSE:RTN) - Broke out today on good volume. No resistances above.
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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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Labels: AAPL, ARNA, FORM, MO, PCYC, RTN
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