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Saturday, February 09, 2013 

Potential setups for next week

Hi everyone,

Here are a few stock winners from last week watch list :  Zynga Inc (ZNGA), Pacific Ethanol Inc (PEIX), Tesla Motors Inc (TSLA),  Huntington Bancshares Incorporated (HBAN), Chipotle Mexican Grill, Inc. (CMG), Sears Holdings Corporation (SHLD), Dendreon Corporation (DNDN), Adobe Systems Incorporated (ADBE), Boyd Gaming Corporation (BYD)

The action in the market continues to be very strong as we make new higher highs on SP500, therefore my bias is on the bullish side. Also, economic data continues to show strong improvements. Here are some more potential setups for next week.

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First Solar, Inc. (NASDAQ:FSLR) is one of the stocks I'm following which has a very nice rising channel pattern with higher lows and higher highs. It pulled back on low volume Friday, holding support at the 20-day EMA (30.01). Could move again soon. The bullish scenario in short-term still intact so we must see this bearish momentum just as a correctional movement. My model remains mixed with upside bias. On a medium-term basis, the next target is somewhere up around the 39-40 zone.

( click to enlarge )

Still keeping my eye on Inteliquent (NASDAQ:IQNT). The stock seems to be forming an ascending triangle with resistance at approximately 3.15. Once that level is breached on a closing basis that holds, the next target is $4. All short-term EMAs are rising and the stock is well above. At this point, the technical indicators are supporting the bullishness. The MACD is moving up in the positive zone and is above the signal line. 

( click to enlarge )

VIVUS, Inc.(NASDAQ:VVUS) made a big move last week, the stock was able to move past several important levels of resistance in just a week. On the chart, shares are breaking 1 month downtrend and currently forming a bullish consolidation flag above its 200-day EMA with next resistance at $13.96 and $14.84. VVUS also has 28% of its float short, 4 days to cover. Long setup.

( click to enlarge )

The long awaited break of its 200-day EMA is just one step away. Watching for $5.68 breakout. The technical chart above shows very bullish sign as the stock is on top of 20-day EMA with it also on top of 50-EMA. In addition, RSI is still above the 50-line and heading north. If you haven't added RMBS to your watchlist, now is the time.

( click to enlarge )

Apple Inc. (NASDAQ:AAPL) has recently been trading with increased volume and is about to test resistance at $480.58. The stock needs to close above this level to indicate a continuation of the rally and the following uptrend will take price up to $500 zone. 

( click to enlarge )

Xilinx, Inc. (NASDAQ:XLNX) had an interesting day on Friday, as it broke out of the range and closed near the highs. Friday’s high was $37.63, which is resistance for the continuation move on Monday. There is a lot of upside in this trade, so keep XLNX on your screen next week.

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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