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Friday, July 16, 2010 

Stocks to watch next week

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The break of the bearish trendline resistance generated a buy signal on Tuesday, and the stock has remained above that buy signal since. INTC is now pulling back after the surge in the stock's price. In theory, this move could indicate a change in trend in short term but let’s remember that the bullish trend formed since 18.96’s low still remains intact and price action is hovering around 20.97 support ( 50 SMA on daily chart). Only a brake below this could weaken the stock towards its major support zone of 20.68-20.75. On the other hand, If 22-22.25 level is broken expect an upward trend continuation to 23.17.

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The earnings report determined stock´s direction and bears are now taking control of the situation. Short and medium term trends point out a bearish scenario for the stock.

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On my previous posts on Motorola I mentioned my bullish outlook on the stock. Extremely bullish moves are taking place over the last session’s. However, the daily chart is announcing the expected retrace although we need confirmation with a break through 200 dma. The outlook for Motorola is positive as long as it stays above $7.35. MOT finds an immediate resistance at $7.80 and support at $7.48. For long term traders, this could be an opportunity to start building a position.

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.

Have a nice weekend,


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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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