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Friday, December 18, 2009 

Stock Picks for next week - Motorola, American Oriental Bioengineering, OceanFreight Inc. and Cell Therapeutics

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MOT - The price movement this week was marked by a high degree of volatility. The stock price action was devoid of any significant momentum during the week. The near-term outlook would depend on the price movement in the next few days. A close above $8.61 would impart bullishness and would help the stock move to the $9-$9.30 band. A drop below $8.01 would have negative implications that would push the stock down to the $7.80-$7.71 range. Some indicators are improving but it needs to breakout above the $8.61 resistance to confirm the change in trend. However, despite some negative divergences on STO, I'm keeping my bullish outlook and expect to see higher prices in coming weeks. The new Motorola Droid is pretty hot today. It's an iPhone killer!

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AOB shows signs of strong buying pressure with a triangle breakout. This is the second surge on big volume. As a low priced stock, risk is above average and traders might put this one on the radar to buy on a dip.

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OCNF has a double bottom working from Oct to Dec. Upside volume looks good and a break above $1.05 would be bullish. The downward price movement is not accompanied by volume, which suggests that people are still holding the stock. Currently price is now at $1.01 level and based on KD indicator we might see an upward move for this stock again.

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CTIC declined to a support zone and upside volume is starting to pick up, watch resistance at $1.1485. Fresh exposures may be considered on close above this level, with a stop-loss at $1.05.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All Folks. Have a nice weekend !!!


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I'm puzzled with MOT right now. Will selling their set-top division increase their stock? Should we look at one of the potential buyers(Arris) for an increase as well? Thanks AC and I enjoy your blog.

I agree with you in regards to OCNF, is well over sold, in our believe the company should be valued @ $3.25, remind to be seen, but once again you are right, once we go above $1.17 the sky is the limit. regards

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  • 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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