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Tuesday, March 06, 2012 

Stocks to Watch on Wednesday, March 07

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I’m looking at a possible double bottom reversal on Rubicon Technology, Inc. (NASDAQ:RBCN) stock chart. I know that it's too early to say for certain but looking at the technical chart is very likely. Notice how the MACD Histogram is starting to rise and the RSI is turning up from being oversold. The slow stochastic line is also near to cross the fast line, so there are good chances of reversal happening here. Keep watching the stock.

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Motorola Solutions Inc (NYSE:MSI) broke out of the triangle today as expected accompanied by a strong volume suggesting higher levels. I'm buyer of MSI once it breaks through today’s high of $51.88 for the continuation move.

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BioCryst Pharmaceuticals, Inc.(NASDAQ:BCRX) broke out today and traded nearly 3x normal daily volume. The stock has the potential to make a run on Wednesday, so keep a close eye on it and don’t miss the trade. From the technical analysis perspective, the outlook for BioCryst Pharmaceuticals is bullish. The stock is still in a very strong bull market with the MACD on top of signal line and the 50-day moving average on top of 200-day moving average. However, the daily momentum indicator has reached overbought levels and I believe that a near-term correction is likely to happen. The positive view would be negated if the share price closes below $5.14.

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Pacific Ethanol Inc (NASDAQ:PEIX) has a strong support at $1 level closing below this level could further move down the stock to 0.8's levels. On the higher side, the stock could face a strong resistance at $1.16 closing above this could further move the stock to 1.2 & 1.3 levels very soon.

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Amazon.com, Inc.(NASDAQ:AMZN) shows signs of strong buying pressure with a Bullish MACD crossover. Upside volume looks good and a break above $185 would be bullish. 

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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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