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Sunday, December 22, 2013 

Stocks to Watch for December 23, 2013

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BlackBerry Ltd (NASDAQ:BBRY) had a big pop on Friday and the stock price finally broke out of the falling wedge pattern that has been forming since September, which is extremely bullish. The technical daily chart appears to be bottoming. My initial price target $8.45.

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Lennar Corporation (NYSE:LEN) has formed a resistance level at 37.80. A breakout above this key resistance level would lead to an initial target in the 40 area, its high from June 2013. You should watch this stock closely on Monday.

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Marathon Petroleum Corp (NYSE:MPC) is consolidating in a pennant formation (flag in white) over the last two weeks. Watch for the break and play accordingly.

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Possible resistance breakout trade setup on LyondellBasell Industries NV (NYSE:LYB). If the stock can manage a breakout above $79.34 on high volume, it would be a great buying opportunity, but only on a breakout.

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The stock price of VirnetX Holding Corporation (NYSEMKT:VHC) has recovered smartly since the low of 17.16. The stock is currently in a short-term uptrend and may move up to 21/21.47 on volume trading. Technical indicators are turning bullish. The MACD is rising above its signal line, but in negative territory. The RSI is above its 50% level and all three major short-term EMAs are moving up and the stock is trading above them. The strong support for the stock exists at 18.80.

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Neurometrix Inc (NASDAQ:NURO) closed Friday at the highs of the session in a fantastic move in the last seconds of trading. I think the stock price has more room to rally and we could see some strong upside over the coming days. Keep this stock on watch.

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Twitter Inc (NYSE:TWTR) looks like the stock price is forming a potential cup-and-handle pattern on the hourly chart. At this point, a pullback or consolidation in the short-term is likely. However, a break or close above the highs will invalidate this possible formation.

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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.

Thanks for visiting AC Investor Blog.


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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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