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Tuesday, August 28, 2012 

Four trading ideas for Wednesday, Aug 29

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CubeSmart (NYSE:CUBE) had a nice move today, as the stock set new 52-week highs. The stock hit a high of $13.03, which is resistance for the follow through move. The long-term trend is bullish as the stock is above 50 & 200-day moving averages with both moving averages going up. You should watch this stock closely on Wednesday.

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InterDigital, Inc. (NASDAQ:IDCC) closed slightly below its 200-day moving average of $34.22 with a closing price today of $34.19. In the short-term chart, we have a turning up of Stochastic indicator showing positive signal and the MACD is also sloping up again confirming the Sto’s signal. The nearest trend is in favour of Bulls and IDCC has room to go higher. The accumulation over the past weeks has shown funds moving into the company and moved share prices upward. Today’s high was $34.39, which is resistance for the follow through move. If the stock can break through this level, expect to see heavy volume drive the stock higher. Also watch out for other resistance levels at $34.74 and 35.18. As I said on twitter I increased my long position once again today. I feel confident enough in the company especially after Apple's court victory over Samsung Electronics. InterDigital owns more than 8.600 patents and has an additional 10.000 on application. The patents cover a broad variety of wireless and wire line communication, including 2G, 3G, 4G, and LTE, as well as IEEE 802.

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Take-Two Interactive Software, Inc. (NASDAQ:TTWO) - A breakout above $10.4 would constitute a technical entry for the short term trader looking for a quick trade. 
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Oncothyreon Inc (NASDAQ:ONTY) had another very productive day as we saw gains of over 5% and I believe it has more room to run. The short-term outlook remains positive for the stock. ONTY finds an immediate resistance at 5.53 and support at 4.92 followed by 4.55.

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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