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Saturday, September 29, 2012 

6 Bullish charts to watch next week

Thanks everyone who has been following me on twitter and Stocktwits. It's great to see that the number of followers are increasing day by day, which hopefully means that some people enjoy my daily stock tips. A close look at the Twitter statistics tells the story. At the start of the year i had 800 followers, the twitter button in the side-bar shows now nearly 2400, this represents an increase of 200% since then. On stocktwits the scenario is exactly the same, i'm on the verge of surpassing the 1200 mark. I just want to say, thank you and please tell your friends to come visit and follow me. 

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InterDigital, Inc. (NASDAQ:IDCC) - On Friday the stock surged nearly 1% to $37.27 per share while technical indicators still show the stock will continue to go up. The MACD shows again buy signal as MACD back above signal line and suggests that a short term bottom is already in place. Stochastic is also showing buy signal with %K line above %D line. SMAs are moving up. RSI is moving up & above its 50% level. The accumul/distrib line shows a significant uptrend which means the stock has been under heavy accumulation for three days now. To those who took the chance at $33 on my blog posts and tweets, congratulations !!! I still believe based on daily and weekly momentum that the potential is there for further gains.

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Rambus Inc.(NASDAQ:RMBS) just turned bullish on daily charts.. The stock is currently trading just below its 200-day SMA and likely to cross it soon. Technical indicators are supporting the bulls. The MACD is rising and above the signal line. RSI is moving up & above its 50 level. RMBS could be making another move to $6 and we could see a break there. Keep this stock on watch.

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The stock has been consolidating nicely since it rose from $10 to a high of almost $16.50. Sarepta Therapeutics Inc (NASDAQ:SRPT) could be ready for another rally after yesterday's big move. It will be interesting to see if next week the stock can continue its upward momentum. The next resistance level to watch is at 16.25. Above this level could test 16.44 next.

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Bank of America Corp (NYSE:BAC) has been pulling back after a sharp rally early this month on heavy volume and I think that it will resume its climb. The technical chart still shows bullish sign as the stock is trading above 50-day moving average and the 50-day MA is on top over 200-day moving average with MACD above zero. A good entry point will be around 8.3/8.35 to be safer or on a break of the flag.

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Sprint Nextel Corporation (NYSE:S) looks poised for a break to the upside. It has been holding a tight range. Long over 5.76 for a target of 6.12 with stop loss of 5.26.

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Facebook Inc (NASDAQ:FB) looks very strong on charts. The stock yesterday closed above its 50 day SMA of 21.3 with very high volume. RSI is moving up and above its 50 level. The daily MACD continues to trade in the positive zone. The CMF is also turning up which means there is more money flowing into the stock.The stock should make a move higher to test the recent highs.

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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