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Tuesday, August 21, 2012 

5 stocks I will be watching for potential trades

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OCZ Technology Group Inc. (NASDAQ:OCZ) -  On the radar. The stock closed at $5.76, up 43 cents points for the day on expanding volume, regained its 50-day moving average  and reconfirming that a new short-term uptrend is in place. Further rise is expected to follow to retest $6 level. Near term support is now located at $5.33, as long as this level holds, I'd expect the uptrend to continue. Long-term investors may hold with a stop at $4.90.

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DAKT Skechers USA Inc (NYSE:SKX) stock broke out today but failed to close near the highs. SKX pulled back during the day, however still closed higher than the high of the previous two sessions, which is bullish to me. Let's see how this trades tomorrow.

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InterDigital, Inc.(NASDAQ:IDCC) is one of my favorite long term plays and the technicals are setting up in favor of the bulls. The MACD has risen strongly above zero and OBV continues to rise, indicating continuing accumulation. The stock is now approaching a key medium-term resistance zone around 34.34 ( 200-day MA). A move above this technical level is likely to spark a short-covering rally towards $35.IDCC is also heavy shorted which only means one thing.... squeeze ;-) Keep an eye on IDCC, near breakout levels.

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Astex Pharmaceuticals, Inc. (NASDAQ:ASTX), like it above $2.8

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Silver Standard Resources Inc. (NASDAQ:SSRI) - The 200-day MA is right above $13.94, I like it above that level. Solid upside volume showing up this week and that shows continuing accumulation in the pattern. Now we wait for the breakout move. The short-term uptrend will not be threatened unless the stock goes on to close below the second support 12.21.

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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