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Tuesday, September 11, 2012 

Stocks Watchlist For Wednesday, September 12

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Groupon Inc (NASDAQ:GRPN) is on the verge of really blowing up. I would not be surprised to see the stock test $5 at some point over the next few days. The technical chart shows a possible reversal in trend coming. GRPN has been hit very hard but today’s move could be the first of a short-term swing. The stock opened weak but closed strong above the 13 & 20 MA's for the first time since mid-August on heavy volume. From the technical chart, KD line shows positive signals as %K line is rising on top over %D line and RSI is bouncing up from below the nominal 30 level. OBV is beginning to turn around which suggests the stock is no longer being sold off.  I will be watching the stock on Wednesday for a continuation move through Tuesday’s highs of $4.67.  I also thinks GRPN is a short squeeze candidate, with a short float at 22.3% (equivalent to 3.1 days of average volume). 

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Career Education Corp. (NASDAQ:CECO) was a big winner today, as the stock closed up $.34 or 9.7% on good volume. I feel that there will be a continuation move tomorrow but I want to see it break through $4 and keep on going up. There are several short term technical indications suggesting that CECO could make a move to higher levels. Keep a close eye on CECO for Wednesday.

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Advanced Micro Devices, Inc. (NYSE:AMD) was on fire today. The next resistance is located at $3.85. As long as the stock can remain above $3.43, I like the stock.

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InterDigital, Inc.(NASDAQ:IDCC) is still consolidating here and may still have a chance to move higher. The technical chart shows very strong upward momentum as the stock is above the major moving averages. All indicators still point to a bull market.

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Rambus Inc. (NASDAQ:RMBS) - The stock is slowly recovering. The $4.73-4.9 area is a critical resistance region that can determine overall bias for the stock in short-term. Bulls are now attacking the 50-day MA, a break above could trigger a rally towards 4.93 resistance and determine overall bias. Keep an eye on these levels.

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Research In Motion Limited (NASDAQ:RIMM) was able to get up through the key resistance level ( 50-day moving average ) and sustained the move. The stock hit a high of $7.55, which is resistance for Wednesday’s move. If the stock can break through resistance, we should see a strong follow through move. Watch the stock closely tomorrow.

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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