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Friday, November 23, 2012 

Some setups to watch in the week ahead

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The trading week was very good for Zynga Inc (NASDAQ:ZNGA) compared to the situation of the stock 2 weeks ago. A new higher low was formed this week and a very good rally started on Wednesday which gave the stock a 12% boost in just two days. This move was accompanied by higher volume compared with the volume the previous week, but not sufficient enough to hold upward momentum today. Technical indicators on chart are showing us mixed signs. Bullish signs coming from Stochastics and MACD, while bearish signs coming from the RSI. At this point, the technical levels to watch for an entry point will be either $2.52 level or if the stock goes lower, $2.25 will be another attractive level to accumulate.

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Shares of Lattice Semiconductor (NASDAQ:LSCC), rose 4.65% to $4.05 per share. The stock cleared the downtrend channel of the recent leg down. Also, last candle is pretty bullish. LSCC is now back to positive trend as it is now back above 50-DMA. The MACD is also looking very good with a possibility of a cross above the signal line and with KD rising the stock could be heading for a new rally. The next key resistance level to watch is at 4.16. Above this level could test 4.5 next.

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Visa Inc (NYSE:V) had a remarkable rally this week with solid volume. The stock didn't only bounce from support near its 50-dma, but was also able to create a new 52-week high. The RSI is again near the overbought level, so for the coming week I expect a possible sideway movement.

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Nice runner from the buy list yesterday. Looks like the 20-day MA acted as support for the stock, as it was able to bounce from the downward movement. Green Dot Corporation (NYSE:GDOT) closed the week with a strong white candle. For next week the upward movement may continue. A move above $12 could spark a nice short-squeeze.

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Tellabs, Inc. (NASDAQ:TLAB) is capable of mounting a nice run in the weeks ahead. The company will commence its share repurchase program on Monday. From a technical standpoint the stock seems to have reversed from its downtrend and could be starting an uptrend. With the MACD turning up and above its signal line, this stock could post a nice rally from current levels.

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Baxter International Inc. (NYSE:BAX) broke out from a small ascending triangle with resistance at 66.88. Target price is at 69.8. Long setup, but watch out if price fall back in the triangle.

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InterDigital, Inc. (NASDAQ:IDCC) chart looks very good. Accumulation continues to trend higher despite recent pullback. Looks ready to test the recent highs. Next resistance level to watch 43.08

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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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