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Friday, May 25, 2012 

Put these stocks on your watch list for Next Week

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Elan Corporation, plc (ADR) (NYSE:ELN) looks really strong here, broke and closed above 50 day MA. Strong volume today ! On the daily chart, we can see a few technical signals suggesting this swing higher in the short-term should continue a few more days. First, the MACD is displaying a new bullish crossover and a positive move. At the same time, we see that the daily stochastics are showing positive momentum from oversold levels, which should reinforce a move higher if near-term resistance at $14.58 is taken out. Finally, The RSI is starting to bounce back from oversold territory. Target is $15-15.25 with a tight stop under the 50 day MA. 

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Bio stocks such as Complete Genomics, Inc. (NASDAQ:GNOM) were on fire today. I featured this stock on Thursday and today it gained close to 29% !! Volume was tremendous today and I see more upside here. Easy to manage with a stop at the 50 day MA.

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XenoPort, Inc. (NASDAQ:XNPT) looks great here flagging nicely on low volume, tried to break out today but failed. Volume patterns good, keep an eye on it the next few days.

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The entire Education sector was on fire today led by Career Education Corp. (NASDAQ:CECO). The stock closed above the psychological level of 7 and near the 50 day moving average. A close above this level would warrant liquidation of short positions. I believe that price may continue its rally next week.

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Zalicus Inc (NASDAQ:ZLCS) looks good here with plenty of room to run to the next resistance at $1.01
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eBay Inc (NASDAQ:EBAY) bounced nicely off the 50 day MA this week. The stock should test the recent highs and possible new highs in the weeks ahead.

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Zynga Inc (NASDAQ:ZNGA) - No signs of reversal yet. If you are long , stop should be the recent swing low.  Short term investors are advised to avoid fresh long positions at this point. Only a close above $7.25 will start negating the bearish forces.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog  twitter and newsletter, so you can receive my trade ideas and stock news in real time.  

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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