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Thursday, September 13, 2012 

Stock Picks for Friday September 14, 2012

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InterDigital, Inc.(NASDAQ:IDCC) has a clear key resistance line just above the 36 level, which it is approaching having gained 43 cents or more than 1.23% today, to 35.51. A move above 36.04 would confirm the breakout, with an initial target of 38.40 and secondary target of 40.68.  Stop is at 33.65. The uptrend is definitely intact, awesome medium-term hold. The lows are rising and even the peaks are nudging up and up. Additionally, technical indicators are giving positive signals as the stock trades above the 200-SMA. The RSI is also rising after having found support near its previous lows. I believe the stock can continue its medium-term uptrend and test the $40 levels in the coming weeks. With over a short interest of 6.14 Million shares and average daily volume of only 770K, the short interest ratio is at 7.9, meaning it would take 8 days for all the shares short to be covered. Any type of good news related with a potential patent sale could launch a wicked short squeeze capable of adding a 20%-25% gain to the shares in a matter of minutes as we saw last month. Keep IDCC on the radar like a HAWK lol !!

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U.S. Bancorp (NYSE:USB) broke a key resistance line today with an up-move of 93 cents, or 2.74%, to 34.87. Volume surged and this breakout looks like it is here to stay. There looks to be good upside in USB, so keep it on your radar the next few days.

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Amazon.com, Inc.(NASDAQ:AMZN) had a good move today, as the stock set new 52-week highs.  The stock hit a high of $262, which is resistance for the follow through move. The technical chart shows the stock is in a bull market rally as MACD is on top of signal line and moving upwards. In addition, the medium term trend is also bullish as the stock is above 50 & 200-day moving averages with both moving averages going up. You should watch this stock closely on Friday.

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The Walt Disney Company (NYSE:DIS) has made an awesome move today. The stock hit new highs of $52.67, which is resistance for the follow through move on Friday. If the stock can break through highs, we should see another high volume move as the stock moves higher. Keep it on your radar.

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Oracle Corporation (NASDAQ:ORCL) Over 32.81 for a breakout trade.

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People's United Financial, Inc. (NASDAQ:PBCT) broke out from the horizontal resistance on expanding volume. This momentum could push this stock much higher from here. Next resistance is now seen at $12.73.
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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