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Saturday, June 14, 2014 

Stocks to Watch for June 16, 2014

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Endocyte, Inc. (NASDAQ:ECYT) is forming a potential rounding bottom formation on the daily chart and its neckline is at 7.30. The price rise with increase volume during last week’s trade, suggests bullishness in this stock. Among oscillators, the MACD and RSI are rising indicating strength in the current uptrend. The stock price was unable to rally above the 13-day exp moving average during the month of May, but managed to do so last week. Breaking through this key moving average could signal a trend reversal, with huge upside potential and a Monster gap above the 7.30 level. All eyes on ECYT next week.

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FormFactor, Inc. (NASDAQ:FORM) after consolidating in the range of 7.50-7.30 for the last two weeks has given a positive breakout, signalling bullishness in the stock.

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Delta Air Lines, Inc. (NYSE:DAL) has been trading in an upward rising channel since mid-April but broke that channel last week on massive volume. The stock is now sitting on a key support level. A break here will move the stock towards the May lows and a test of its 100-day EMA, currently at 35.39. The MACD oscillator has given a negative crossover that supports the short-term negative momentum in the stock.

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Twitter Inc (NYSE:TWTR) made a lifetime high of 74.73 in December of last year and then faced a sharp decline up to the 30 levels where the stock made a double bottom. TWTR then resumed its upward rally forming higher tops and higher bottoms on the daily charts. The stock is currently trading near the 50-day exponential moving average that is at 37.62 and can act as a strong resistance.

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VIVUS, Inc. (NASDAQ:VVUS) The stock has formed an ascending triangle in the last few weeks and is showing signs of bullishness. A push above $5.44 would be a solid buy signal for traders with a target of 6.3

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SanDisk Corporation (NASDAQ:SNDK) Over recent days, I've warned that the stock is showing signs of topping out for the short term. The chart has a Bearish MACD crossover and the RSI has exited its overbought zone suggesting a retrace. We could see a pullback up to $92.50.

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Rambus Inc. (NASDAQ:RMBS) recently broke out of a large flag consolidation pattern above 12.80 and is forming now another potential bullish flag that might be worth keeping an eye on. Although a possible pullback to the breakout area (12.80) may not be ruled out, in my opinion it could be seen as a buying opportunity. The recent high volume activity, along w/ positive crossover of MACD on the daily charts suggest fresh buying interest in Rambus.

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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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