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Wednesday, August 08, 2012 

Wednesday's Stocks to Watch, Aug 8

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Juniper Networks, Inc. (NYSE:JNPR) was a stock I alerted to my subscribers/twitter followers last month as a bottom trade at $15 ( Stocks to watch on Thursday July 19 ) and is now coming up to a big level as the stock is near its 200-day moving average. The short term technicals are now reading overbought and the likelihood of a pullback cannot be ruled out in the near term, before any further upside to $20. For those who did not have a chance to buy the stock, any pull back is your buying opportunity.

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Louisiana-Pacific Corporation (NYSE:LPX) made a new 52-week high of $11.84 after gaining nealry 3.5% in yesterday's trading. The 52-week range for LPX is 4.41-11.84. The stock trend looks really positive and could move up further with resistance at $12. Immediate support is at 11.2-11 levels now. From a technical standpoint the stock is trading above all of three major moving averages while the MACD is positive and rising. Long Setup.

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Clearwire Corporation (NASDAQ:CLWR) has been on a remarkable run since last week. The medium term trend is turning positive as the stock is back above 50 day moving average. However, since RSI is overbought level there may be chance of short correction and for now $1.6 level will be hard to break.

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From a technical standpoint chart shows a nice bullish stochastics cross combined with a strong bounce off the 50-day MA. This chart tells you that the place to be in Weatherford International (NYSE:WFT) is on the long side.

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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