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Wednesday, December 28, 2011 

Few setups for your watchlist

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Plains Exploration & Production Company (NYSE:PXP) - The technical daily chart above of PXP, shows very bullish signal as 50-day moving average has just crossed on top over 200-day moving average forming the Golden Cross. With the bullish sign formed and MACD also back above 0 we should see the stock take off from now on, so be patience on PXP because we can see soon a nice rally.

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Pacific Ethanol Inc (NASDAQ:PEIX) ended the day with a heavy gain of 27 cents (30%) to $1.15. It pushed higher throughout the day and closed out the session near its highs. This creates a bullish scenario for tomorrow, one in which the stock opens the day a few ticks higher and then continues its rally. The break of resistance $1.10 (20-day SMA ) with high volume is great. The next point of interest is the 200-day SMA at $1.54.

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Brown Shoe Company, Inc. (NYSE:BWS) will be a stock to keep a close eye on the next few days. The stock is trapped between its major moving averages and imply that a breakout of the trapped zone must occur. At the moment, this signals indecision and no clear direction. Stay tuned !!

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FormFactor, Inc. (NASDAQ:FORM) - Technically, short term outlook has turned better after holding well above the $5 level and 10-d SMA (4.92) supports, underpinned by improving technical readings of its daily charts. Additionally, the chart shows a MACD crossover, a bullish sign. Immediate supports are $5 and $4.92 (10-d SMA). Long-term investors may hold with a stop at $4.68.

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Zalicus, Inc. (NASDAQ:ZLCS) - Wedbush Analysts in a research note issued to investors today reaffirmed its “Outperform” rating on Zalicus Inc with a $5.00 price target. Also, analysts at MLV & Co initiated coverage on shares of Zalicus Inc last week with “buy” rating and a $4.00 price target on the stock. The stock is currently trading at $1.20 which is far from the targets mentioned by the analysts. I'm still holding my long position bought at $1.12 waiting for a huge increase in the share price that could happen at any time. If you look closely at the technical indicator OBV, you can see a strong uptrend which means accumulation is going on.

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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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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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