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Thursday, May 01, 2014 

Stocks to Watch for May 01, 2014

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VIVUS, Inc. (NASDAQ:VVUS) had a volatile day on Wednesday as the stock opened down and closed strongly higher at 5.20. The volume was 1.9M. From a technical standpoint, the 20-day exponential moving average continues to provide near-term resistance and will be a key level to watch today. The dailly MACD has created several instances of positive divergence with the stock, the lower highs on the stock have not been confirmed by this momentum indicator, which has created higher highs, signaling a strength in the momentum of buying pressure. A strong jump above the 20-day EMA will reinforce positive momentum and take the stock northwards to 5.85 or even to 6.50 in the medium-term.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is currently at an inflection point. There is a confluence of resistances around 6.50 levels formed by 200-day EMA and the downtrend line, which would be a tough level for the stock to cross on the upside. A breach of the mentioned confluence level, could trigger a strong bullish rally.

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BlackBerry Ltd (NASDAQ:BBRY) The near-term outlook is positive and a move to $8.15-$8.4 appears likely. The stock price continues to consolidate just under the 20-day EMA, gaining momentum for an upcoming move. Resistance is $7.70. I expect to see a strong upside move if the stock can break through this resistance level. Watch it closely today.

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AOL, Inc. (NYSE:AOL) is a good stock to watch and once it breaks through $43.28 on a close basis, the stock has the potential to run straight up. Although it is still early to confirm, technical indicators are turning up for both the RSI and MACD, confirming the short-term bullish sentiment. Additionally,  there is a lot of calls with a strike of 49$ & $50 (expiration May) that were bought on April. Watch AOL closely on Thursday.

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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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