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Saturday, March 02, 2013 

8 Stocks On Watch For Monday

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OpenTable Inc (NASDAQ:OPEN) surged 4.8% to $58.27 per share on Friday breaking out an important resistance with heavy volume. We should be able to see some decent upside movement for the bulls here. Technically, the stock still in a very strong bull market with the MACD on top of signal line and 50-day SMA on top of 200-day SMA. Fresh buys can be initiated with a stop at $52.74 (50SMA).

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Deckers Outdoor Corp (NASDAQ:DECK) Bullish Breakout on Expanding Volume. The short-term uptrend is intact and signals further bullishness on this stock. A move towards $48 can be expected as long as $45.2 holds.

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Rallied over 1.3% Friday on solid volume. VirnetX Holding Corporation (NYSEAMEX:VHC) remains in its tight range of 34-36.3 which has formed over the last few weeks. If the stock rallies further a break above 36.6 should push it to 37.65 or a 3%+ jump. VHC also has a huge short-interest with more than 15 million shares listed in the February short interest. Worth watching for a breakout.

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FormFactor, Inc. (NASDAQ:FORM) The 50-day SMA has been following the stock for several weeks and it plays the role of a support. Each time FORM stock touched the 50-day SMA it immediately turned over and started a bullish move. The technical chart also shows an inverted Head and shoulders pattern with a downward sloping neckline near 5.15. If the stock can break through this level, we should see a strong move. FORM can be a good trading stock, so keep it on your radar for the next few days. Needham calls FormFactor a stock to own in 2013 given the recent DRAM spot price improvement and the company's improved cost structure. The firm reiterates a Buy rating on the stock with an $8 price target. Just based on a technical perspective FORM is on the cusp of a breakout.

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According to my technical analysis of  Research In Motion Ltd (NASDAQ:BBRY) history with Slow STO, we should move higher soon.

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Zynga Inc (NASDAQ:ZNGA) has a very interesting technical daily chart and could have a bigger move soon. Resistance for this move is $3.75. Heavy volume on up days. Worth watching for a breakout.

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NVIDIA Corporation (NASDAQ:NVDA) closed above its 200-day SMA for the first time since January. We start to see now some signals of rebound as the technical chart shows positive momentum is back. The money seems to be flowing into the stock as indicated by the technical indicator OBV.

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Himax Technologies, Inc. (NASDAQ:HIMX) had a remarkable move up on Friday with very high volume. This is currently a buy, so buying the dips is recommended as long as the MACD does not move below signal line. 

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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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