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Monday, June 04, 2012 

Trade Setups To Watch on Tuesday , June 05

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Shares of Zalicus Inc (NASDAQ:ZLCS) could be in the early stages of a technical breakout. The stock closed right at its 200 day MA on the daily chart on heavy volume. Although recently the stock has been on a pull back today's 19.75% gain to $1.10 per share shows the stock may be on the rise again.  The technical chart looks like it's set up and ready to go. I will be watching very closely for news. ZLCS looks like it wants to run. 

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 XenoPort, Inc. (NASDAQ:XNPT)  closed back over the psychological level of $6 and the volume was good. It looks like an upside breakout is imminent as the stock completely turned around from Friday's negative price action. The immediate support level is now adjusted to $5.53 followed by $5.29 and the resistance continues to be located at $6.11 followed by $6.30.

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Amazon.com, Inc. (NASDAQ:AMZN) had a nice reversal today, so I look for further upside. Target 220 and then 230. The chart is showing bullish sign as 50-day MA has crossed on top over 200-day MA and form Golden Cross, a bullish signal recently. Although the stock has been on pull back, with MACD still above zero, we should see AMZN going up again soon as ROC is showing stock is oversold.

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Zynga Inc (NASDAQ:ZNGA) broke support and made a new 52-week low. The stock can continue going down, because there is no supports below. Unless the stock can recover above $6 again, the technical outlook for the stock will be bearish and you should reduce your exposure. Hard to say how far down it will go, since that depends on the strength of any selling.

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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