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Wednesday, July 18, 2012 

Stocks to watch on Wednesday July 18

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The short-term outlook for MetroPCS Communications Inc (NYSE:PCS) is bullish. Fresh long should be made only when the stock closes above 6.65 with an up candle.

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Newfield Exploration Co. (NYSE:NFX) made a nice move on Tuesday and looks ready to continue on Wednesday. NFX was strong all day as it closed up 3.5% to 31.38. If the stock can break Tuesday’s high of $31.49, we should see a continuation move. I will buy NFX above those highs on this breakout move.

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Pfizer Inc. (NYSE:PFE) has been is on a remarkable run since August 2011 and it doesn’t looks like the trend will change soon. Yesterday, the stock broke out to a new high of $23.73, having struggled to breakout for the past two months. From a technical perspective the stock still looks bullish and there is no evidence we can see for a major correction just yet. The trend is in favour of Bulls and PFE has now room to go higher. MACD and RSI both in Bullish areas.

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Carrizo Oil & Gas Inc. (CRZO) is coming up to a big level, as the stock is near its 200-day moving average. I'll be watching this stock closely today as I expect to see a strong move once the stock breaks through resistance. A move past $25.78 would be a strong indicator of a further uptrend in the stock. The technical daily chart show a continuation of the uptrend with MACD and RSI in the Bullish areas.

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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.

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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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