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Sunday, June 08, 2014 

Stocks to Watch for June 09, 2014

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Level 3 Communications, Inc. (NYSE:LVLT) still trades within a rising channel but is losing some momentum. I believe we might see a break of its 50-day exponential moving average at $41.52 and the stock price will revisit the bottom of channel for the third time.

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SanDisk Corporation (NASDAQ:SNDK) has strengthened massively since April and continued its rise last week in the face of extreme overbought conditions. However, the MACD Histogram is showing some negative divergence (white line) which might result in a pull back. Long positions should be avoided at this point A correction could be expected to 88 (50-day EMA).

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Amkor Technology, Inc. (NASDAQ:AMKR) made a potential bearish reversal Friday on massive volume. The stock is far above its 200-day EMA and the RSI is very overbought, so sideways to lower prices are possible near-term. In addition, Oscillators are also turning down. Below 10.42, support is seen at 10.19. The next support comes at 9.82.

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AvalonBay Communities Inc (NYSE:AVB) Possible Dark Cloud Cover formed on Friday. Plus, there is a negative divergence on the MACD indicator. A lower close on Monday will confirm reversal.

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VIVUS, Inc. (NASDAQ:VVUS) is testing resistance in the 5.40 zone, its recent high in last month's move up. A break and close above this key resistance zone would break the stock out to targets in the 5.95-6.10 range. Short-term indicator remains positive.

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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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