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Tuesday, December 31, 2013 

Stocks to Watch for December 31, 2013

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The short-term outlook for Riverbed Technology, Inc. (NASDAQ:RVBD) looks promising from a technical point of view. On Monday, the stock broke out from its trading range on relatively high volume, and the breakout was accompanied by a bullish MACD crossover. Based on Yesterday's action, I expect to see the stock move up in the next coming days. Technically, I'm bullish on the stock. Next major resistance lies at 19.38. Long setup.

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Advanced Micro Devices, Inc. (NYSE:AMD) As shown on the daily chart above, the stock price is still trading within an ascending channel, which is a bullish pattern formation and is targeting $4 next.

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I'm bullish on Nuance Communications Inc. (NASDAQ:NUAN) from a short/medium-term perspective. Its current uptrend can prolong further to 16 and then to 16.5 in my opinion. The key short-term resistances are located at 15.49 (convergence of the 200-day exp moving average) and 15.76. Billionaire investor Carl Icahn has been increasing its stake in the company.

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There is a clear cup-and-handle formation on this daily chart of Venaxis Inc (NASDAQ:APPY). The Cup & Handle is a bullish continuation formation that generally occurs in uptrends. I still believe that the overall outlook remains bullish and the possibility of a breakout is quite good considering its pattern formation. The stock faces initial resistance at 2.20 and then at 2.45.

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JA Solar Holdings Co., Ltd. (NASDAQ:JASO) The momentum is picking up. Any close above the resistance level of $9.54 (50EMA) could trigger a buy signal.

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The stock price of Amarin Corporation plc (NASDAQ:AMRN) has recovered smartly since the low of 1.36 made in November. There is a possibility of a breakout to 2 or 2.07 in the short-term.

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The stock price of Dendreon Corporation (NASDAQ:DNDN) is quite weak from a short-term viewpoint. It needs to hold above support of $3 to maintain its upward bias.

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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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