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Wednesday, June 13, 2012 

Few trade ideas for tomorrow, June 14th

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Breaking a short-term downtrend line. The technical indicator which shows strength is KD line, where %K line has just rose on top of %D line, indicating buy. However, the stock is still generally weak as MACD is still below zero but with a Bullish Divergence. The long term trend is still weak as the stock is still below 200-day MA with the moving average keeps falling. Shares of Dendreon Corporation (NASDAQ:DNDN) may expect now some resistance at $8 per share. The short term is now BULLISH.

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FormFactor, Inc. (NASDAQ:FORM) Nice price action in a bad tape closing right at the 200-day MA. It should make us some money next few days. Only a close below  $5.4 would alter my interpretation.

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Zalicus Inc (NASDAQ:ZLCS) stock is flagging here. If it's breaks $1.37 it will absolutely fly into the 1.50 area right away. Only a close below the 200-day MA would have negative implications. Keep the stock on your screen because once ZLCS breaks through resistance, the stock should take off and move quickly.

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Arena Pharmaceuticals, Inc.(NASDAQ:ARNA) - The stock continues to breakout and now up 35% this month. Short term technical indicators are now showing extreme overbought reading. Might pause here but looking to add on any Dip. 

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Seattle Genetics, Inc.(NASDAQ:SGEN) recorded a new high in the last trading session. Short-term outlook for the stock is bullish. If in the next sessions new highs do not happen, I expect to see a decline due to the overbought conditions. On contrary, new fresh exposures on SGEN should be made only when the stock move aboves 24.63.

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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.

Thanks for visiting AC Investor Blog.


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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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