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Saturday, November 03, 2012 

6 Chart set-ups to watch next week


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Rubicon Technology, Inc.(NASDAQ:RBCN) - Over 32.80% or 4.8M of the shares available to trade in RBCN are in the hands of short sellers. Stock has fallen from over $10.70 to less than 9 bucks in recent weeks. As I said on twitter I like stocks with high short interest, especially if the stock is holding up strong above support. If RBCN does indeed bounce, we could see a significant short squeeze. From a technical standpoint, Friday's action turned my bias from neutral to bullish. Daily slow stochastic just crossed and the MACD is trying to cross up. I really like the look of this chart but I also would like to advise investors to be careful with earnings. Zacks has a Strong Buy rating on Rubicon Technology and the average consensus analyst price target is $11.89. The company has no debt, $2.29 a share in cash and a book value of 9.96.

NOTE : The company will report earnings after the close on Tuesday and analysts are expecting a loss of 3 cents per share on revenue of $19.7 million.

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InterDigital, Inc.(NASDAQ:IDCC) remains one of my favorite stocks. No one was selling IDCC on Friday after a huge rally in the prior session, as it appears the shares now reside in the hands of long time holders. Someone still accumulating and no one wants to take profits, maybe some real big news around the corner !!!  Friday‚Äôs high of $40.98 is resistance for the next upside move.

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The stock price movement in the last couple of days indicates that Thompson Creek Metals Company Inc (NYSE:TC) has formed a short-term bottom at $2.60. We can see a fresh wave of uptrend if the stock manages to close above the levels of $2.91. Although the stock did not perform well this year, we start to see now signals of rebound. The stock is approaching again the $2.99 level, which typically acts as resistance, so keep an eye on her for a possible breakout. Beyond that, the above technical daily chart shows a bullish MACD crossover and stochastics which indicate we have some more room to the upside.

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On the medium-term scale, Alpha Natural Resources, Inc.(NYSE:ANR) has been forming a rounding bottom formation for the past six months. The stock still showing bullish momentum in line with the sector and the volumes are supporting the current upmove. Near term support is now located at $8.32, as long as this level holds, I'd expect the uptrend to continue. Long-term investors may hold with a stop at $7.40

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Research In Motion Limited (NASDAQ:RIMM) could move to the target zone at $9.57-$10. The positive outlook would be valid as long as the stock holds above the stop-loss level at $7.93. On daily chart, the technical indicators are supporting the bulls. The MACD is positive and above the signal line, while the RSI is also moving up and above its 50 level.

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First Solar, Inc.(NASDAQ:FSLR) in symmetrical triangle, watch test of lower trend line 21 area, may spark more selling if broken. MACD crossing down.

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.

AC

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  • 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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