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Saturday, June 08, 2013 

Stocks to Watch for June 10, 2013

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Procera Networks Inc (NASDAQ:PKT) has been under the radar for the last several weeks and appears that the stock still has more fuel in its tank for a move higher. The start of 2013 was not particularly well for PKT as its shares slid from around 19.67 to a low of 10.12 on February 22. From that point, the stock was able to pick itself up all the way back to 15, with a huge gap up on good earnings. After that, the stock has been consolidating above its short-term exponential moving averages inside an ascending triangle with resistance at 15.13. If the stock breaks out of the ascending triangle, target price is at 17.10. I'm seeing a huge upside potential of PKT. The company's stock was recently upgraded by Needham to Strong Buy from Buy and a $20 target. Keep it in your radar.

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Bullish flag on Liberty Interactive (NASDAQ:LINTA) after breaking out. As long as the stock holds above the previous high, the entry on LINTA is 23.5 on heavy volume.

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JDS Uniphase Corp (NASDAQ:JDSU) broke out on Friday and still looks good here for higher prices. The stock could be bought again as it breaks over 15 on heavy volume.

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SanDisk Corporation (NASDAQ:SNDK) is holding up well here. The technical buy point is as the stock moves over 60.28 on heavy volume.

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Spirit AeroSystems Holdings, Inc. (NYSE:SPR) still looks pretty good. Sold off some but the stock remains near the highs. If it continues to the upside next week and more volume comes in, I would buy it. Stop loss 20.48

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Benchmark Electronics, Inc. (NYSE:BHE) is still consolodating here. The buy point will be at 19.97 on heavy volume.

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Facebook Inc (NASDAQ:FB) may encounter here a temporary breather as it looks oversold considering it was in downtrend since last 6 weeks. Last Friday, the stock was bought up, but there wasn't much volume on the buy up. However, I think the stock may bounce back from current level to around 24-24.2 in short term. Stop loss at 22.6 recommended.

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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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