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Saturday, November 09, 2013 

Stocks to Watch for November 11, 2013

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Himax Technologies, Inc. (NASDAQ:HIMX) staged a 100-day exponential moving average rebound on Friday on decent volume. Over the past 3 months, this exponential moving average has been served as a good catalyst to start a new bullish trend on pull backs, as shown on chart. Let's see if the strength continues on Monday and breaks above the next resistance area at approximately $9.32 EMA50, then we should see a further continuation.

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We finally saw some strength on Friday in Huntington Bancshares Incorporated (NASDAQ:HBAN) stock and also gave a "pocket pivot" buy signal at the same time. The key next week is watch for a break-out above the major resistance at 9.06

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United States Steel Corporation (NYSE:X) stock reached a new all-time high of $27.65 last week on weak volume. Wait for a better confirmation for an entry.

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Facebook Inc (NASDAQ:FB) continues to hold the 50-day exponential moving average now at 47.16. However, inability to break and close above the 50 barrier leaves corrective risks alive. A close above 50 is needed to set a small base for 52.09. On the other hand, any close below $47.16 would have major negative implications from a short-term perspective.

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Microsoft Corporation (NASDAQ:MSFT) remains locked in a small bullish pennant formation after breaking out on Wednesday. Watch for a break of the pennant.

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Arca Biopharma Inc (NASDAQ:ABIO) corrected Friday after a strong move on Thursday, and the stock managed to hold most of gains, finishing above the 50-day EMA. The things to focus on technical chart above is the huge spike in volume on Thursday. In my opinion and based on the AC/DT (accumulation/Distribution line) it could have marked the end of the slide. Based on the technicals, the stock continue to show short-term potential and I'm still with my bullish sentiment, but I could be wrong.

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Zalicus Inc (NASDAQ:ZLCS) was one of the BIG winners on Friday, as the stock closed up $.50 on the day. The move pushed the stock above all the major moving averages and gave a pocket pivot buy signal. I expect to see another upside move, which is why I will watch it again next week. Key resistance stays at $5.

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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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