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Tuesday, October 01, 2013 

Stocks to Watch for October 02, 2013

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Ceres Inc (NASDAQ:CERE) looks right on the verge of a BIG breakout. The stock traded heavy volume as it hit a high of $1.69. This high is resistance for Wednesday’s continuation move. If the stock can manage a breakout above this horizontal resistance line on high volume, it would be a good buying opportunity, with a stop at 1.44. All indicators in the technical daily chart are in favor of an upward price movement. MACD has generated a buy signal crossing above the zero line. This momentum could push this stock much higher from here, so keep it on the radar. If it breaks above 1.69, the next major resistance is located at $2

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Quicksilver Resources Inc (NYSE:KWK) had a huge breakout day Tuesday on heavy volume. The next key resistance levels are located at 2.29 and 2.37. Shareholders may remain invested with a stop- loss at 1.92.

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Rambus Inc. (NASDAQ:RMBS) looks strong enough to move forward. I'm encouraged by the fact that the stock bounced off support of the 50-day exponential moving average yesterday and surged nearly 3% today with good volume. The stock has the potential for a strong follow through so watch it closely on Wednesday.

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Shares of MELA Sciences Inc (NASDAQ:MELA) had a mini rally on Tuesday before pulling back. This could be the start of something larger. $.80 is the next resistance level that if broken, could send shares back to $1. At this point, I think you can buy MELA shares here with a stop at $.65.

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DryShips Inc. (NASDAQ:DRYS) Nice rally on volume today. Keep on watch, if it breaks the $4 level should make a good long.

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VirnetX Holding Corporation (NYSEMKT:VHC) This stock could go either way, watch for a break of this base or a break above the 100-day EMA. CMF continues to rise so my bias is up.

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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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