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Thursday, November 22, 2012 

Stocks To Watch For November 23, 2012

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Green Dot Corporation (NYSE:GDOT) is a fast-moving and volatile play. On Wednesday we saw the stock jump from the red to its days high in seconds, when someone bought around 100K shares ! The stock closed in the green and up 3.5% on solid volume. I alerted my twitter followers to GDOT mainly because of this very strong buy order but their technical indicators also are screaming for a potential breakout. Short-term trend was broken to the upside, next stop 12 resistance and then gap fill at 13. The 20-day moving average is climbing up and we can see the RSI starting to break above 50. GDOT looks to be on the right track to a serious breakout. Besides what we see on the charts, one thing of interest has been the strong insider buying recorded in early November. CEO bought 89K shares. The short interest is about 16.23% of the float and it's supposed to take about 7 days to cover it, so a squeeze is always possible. If it breaks the 50-day tomorrow, shorts might be in trouble. Institutional still holding 72.29%. From a fundamental standpoint GDOT has a PE of 14.53, PEG of only 0.62%, $5.61 cash per share  and a ROE of 12%. Keep GDOT on your radar screens.

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Nokia Corporation (ADR) (NYSE:NOK) broke out on Wednesday and I am looking for a continuation move on Friday. Heavy volume came in as NOK broke through its resistance level of $3.22 ( 200-day moving average ). Wednesday's high is resistance for a follow through move tomorrow. I'm buyer of NOK once the stock breaks through these highs and expect to see another strong upside move. Short-term investors can buy with a stop at $2.75 and long-term investors can hold with a stop at $2.3.

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Research In Motion Limited (NASDAQ:RIMM) closed on Wednesday above its 200-day moving average for the first time since May 2011, closing at 10.26 on over 39 million shares. The stock up over 15% since my call on 17-11-12 Post : Watchlist for next week . In the short term, the overbought conditions on RSI and Stochs could result in a short-lived pullback, but I feel that will be temporary.

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Zynga Inc (NASDAQ:ZNGA) is showing signs of bottoming out on the charts along with the MACD giving positive signals. The stock broke a small bull flag higher Wednesday and with a rising RSI and stochastics the stock has room to run higher. The next resistance level to watch is 2.54 then 2.62.

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FormFactor, Inc. (NASDAQ:FORM) Looks like the bounce has finally come. Projected near term Price target - $4.50

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Institutions are buying Lattice Semiconductor (NASDAQ:LSCC). They are seeing value after it has been sold down recently. Institutions bought 8.7M shares in the current quarter. From the technical chart it looks like the stock is ready for another rally as %K line is on top of %D line indicating buy signal. Watch the downtrend line resistance.

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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