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Thursday, June 05, 2014 

Stocks to Watch for June 06, 2014

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Las Vegas Sands Corp. (NYSE:LVS) The chart shows weakness as the stock is trading below its major short-term moving averages, and if you look closely, you can see that its 50-day EMA is poised to slip under the 100-day level EMA, amplifying the bearish sentiment. Stay tuned on it for a possible breakdown below the support level at $74.

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Wynn Resorts, Limited (NASDAQ:WYNN) failed to pass over the resistance at $220 this week. The stock is clearly losing momentum in the short term and downside is likely. Another negative indicator is the MACD where fast line seems to be ready to fall below slow line, which could mean share prices are heading for a fall.

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VirnetX Holding Corporation (NYSEMKT:VHC) has been in a steady uptrend for the last five weeks and it is well positioned to test and take out its April highs, with all indicators showing strength to move up. So, it will not be a surprise for me if stock breaks above $17.65 in the next sessions.

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VIVUS, Inc. (NASDAQ:VVUS) shares closed up 3.67% today to $5.09. The stock is approaching the 50-day exp moving average which typically acts as resistance, so keep an eye on it for a possible breakout.

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Keep an eye on CSX Corporation (NYSE:CSX) to see if tomorrow the stock will confirm intraday breakout.

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Adobe Systems Incorporated (NASDAQ:ADBE) shares have found a nice support around its 20-day EMA. The break of the white line area at $66 with heavy volume should be the next buy point. Keep an eye on it.

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AVEO Pharmaceuticals, Inc.(NASDAQ:AVEO) well-positioned as a bottom bounce play at 1.03 a share. I know that it is too early to say for certain but looking at the chart above is very likely. The stock took a big drop since March levels, and is presently trading at levels very lows. It's hard to believe, but share price is now 50% cheaper than was in March and trading in oversold conditions. If it starts to move above $1.08 with strong volume, that will be an indication of a bounce. Keep AVEO in your watchlist.

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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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