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Tuesday, May 07, 2013 

Stocks to Watch for May 8, 2013

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Fortress Investment Group LLC (NYSE:FIG) broke out today and traded nearly 2x normal daily volume. The stock has the potential to make a big run on Wednesday, so keep a close eye on FIG and don’t miss the trade.

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SunTrust Banks, Inc. (NYSE:STI) broke above yesterday's high at $29.89 and rose to $30.29 hitting the highest price in six months. Further rally could be seen to retest $30.68 long-term resistance. As long as the stock stay above 27 area, the bullish scenario is still intact.

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FormFactor, Inc. (NASDAQ:FORM) has seen some very impressive volume recently, most of it coming after the earnings report released late last week. The stock was up 1.3% today amidst some steady buying pressure. Nearly 1 million shares traded hands, well above an average day for FORM. The technical  chart shows a stock that is right on the cusp of a big breakout. The stock breached its 200EMA and was able to close above that at $5.13 today. This bodes well for tomorrow and beyond. Stay tuned !!

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I have Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) on my watchlist. It may be ready to break out of this flag consolidation.

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Monster Beverage Corp (NASDAQ:MNST) continues to consolidate but could make a breakout move soon. Resistance is $58.57. I expect to see a strong upside move if the stock can break through this resistance level.

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Crocs, Inc. (NASDAQ:CROX) looks great on daily charts. The stock is setting up nicely for a breakout, but I'd like to see a move above 16.55 on good volume before getting involved.

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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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