Stock Trade Ideas for Tuesday, June 12th
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Arena Pharmaceuticals (NASDAQ:ARNA) hit a new 52-week high today, and
its chart is indicating that there may be more upside. The stock is
still trading above all its key DMAs which are pointing upwards. In
addition the Accum/Dist indicator continues to trend north and MACD
above 0. The Parabolic SAR also continues with its buy signal. Pullbacks
should be used to enter into the stock.
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eBay Inc (NASDAQ:EBAY) has been resilient in the recent carnage. The
stock is in strong hands and a close greater than $42 will trigger more
upsides. The 39 level is the stop loss from a short term perspective and
stock can be accumulated in declines. Upsides resistance zones are
41.4, 41.84 and 41.96.
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Zynga Inc (NASDAQ:ZNGA) closed near the 52-week low of 5.51 it hit last
week. A move below this key support level should lead to further selling
potential for the stock.
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Skechers USA Inc (NYSE:SKX) -
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Shares of Amazon.com, Inc. (NASDAQ:AMZN) are at a critical level in its
recent uptrend. A convincing close above 221 will give it room to go for
the recent high of 233. Long positions can be taken with a stop loss at
202 which should be used considering the overall bearish market
sentiment.
Labels: AMZN, ARNA, EBAY, SKX, ZNGA
