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Tuesday, May 28, 2013 

Stocks to Watch for May 29, 2013

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ITT Educational Services, Inc. (NYSE:ESI) had a big drop today and broke down below the 200-day EMA on high-volume. On the daily chart, we have a bearish MACD crossover and a RSI that is trending lower.  With the short-term trend reversing, I see the next major support at $20.45.

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Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) made a solid 7.7% rally on today's trading session, breaking out the downtrend line that has formed since February on heavy volume. The uptrend is strong based upon the MACD reading and the accumulation/distribution indicator marked an increase in accumulation. Look for a quick run to $9.57 then $10

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salesforce.com, inc. (NYSE:CRM) Watch the major support level of $40.84 (EMA200) and keep your stops there.

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LPL Financial Holdings Inc (NASDAQ:LPLA) made a nice upside reversal today. The technical chart suggests that stock might find now resistance at $38.12. Only a close above this level would suggest further upside.

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Rambus Inc. (NASDAQ:RMBS) shares closed above the 9-day EMA. If prices remain above this level, traders will assess this development as a sign of strength. From the technical analysis perspective, the outlook for the stock is relatively bullish. Stop-loss 7.24

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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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