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Thursday, June 14, 2012 

Stock Trade Ideas for Friday June 15

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As I discussed in my last post about ARNA, I was expecting a pullback today to reset the oscillators and to kill off some the euphoria, but the Bulls exhibited their full control, and recovered all the intra-day losses to close the stock with a small gain. For now, the bulls are still strong and in control on all time frames, short, intermediate and long. The stock is trading well above its key DMAs and both RSI and stochastics are well and deeply in the overbought zone and have now remained in the overbought zone for 5 consecutive trading sessions. However, I 'll be waiting for a pullback to start a new long position. 

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Bank of America Corp (NYSE:BAC) - On watchlist no trigger yet. Long above the 50-day MA..

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FormFactor, Inc. (NASDAQ:FORM) was a nice winner for my subscribers and twitter followers. The stock closed the day at 6.05 a gain of 3.7 percent and above the 200-day MA on very heavy volume. Nice Breakout combined with a Bullish MACD cross, which confirms the uptrend that started this week. Traders will be using the 200-day moving average as a major support level. Additionally, the stock was upgraded  to Buy and an $8 price target by Needham. There is a lot of room on the upside, so keep this stock in your radar screen. 

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XenoPort, Inc. (NASDAQ:XNPT) Put a nice reversal candle today. The chart looks really positive as 50-day moving average has just crossed on top of 200-day moving average to form Golden Cross. The key DMAs are pointing upwards and are also indicating a buy signal for the short term. Looks ready to test the highs.

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The Walt Disney Company (NYSE:DIS) - On my swing long list. Great Breakout. The chart is still showing buy signal with stock trading above 50-day and 200-day moving averages with MACD on top of signal line and %K line on top of %D line. Watch for next leg up. 

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.

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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