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Saturday, November 08, 2014 

Stocks to Watch for November 10, 2014

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Oclaro, Inc. (NASDAQ:OCLR) Although the stock price didn't perform well in the last months we start to see now some signals of rebound as the technical chart shows positive momentum is back. Technical indicators are looking bullish. The RSI is moving up and above its 50% level. The daily MACD is now positive and the Slow Stochastic is also turning up, which means there is more money flowing into the stock. Nearest resistance for the stock is at $1.79. If this level is crossed and the stock is able to sustain above this level, then it might go to $2.30.

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DryShips Inc. (NASDAQ:DRYS) The trend is showing signs of bottom. Positive divergences in some technical indicators and last candle was a Doji. It's looking mighty attractive at current levels.

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A big week ahead for Blackberry. The company will be hosting its 2014 Investor Day in San Francisco on Thursday, November 13. Blackberry saw its shares surged almost 2.6% to $10.53 per share on Friday after Bloomberg reported that Ontario Teachers’ Pension Plan bought almost 7.8 million shares in the third quarter. With a short interest of 20 percent of float and more than 7 days to cover all shares when it takes off it will be very fast. From a technical standpoint, chart looks bullish as the stock is trading above all EMAs and the 50-day EMA crossed above 200-day EMA recently (Golden cross). In addition, both CMF and MACD show bullish signal as MACD is above 0 and CMF is positive. The price can move up to $11.2-$11.6 in the short-term. Long term the weekly chart is forming an ascending triangle formation, and my target for the next 12 months is around 20. Lets see if it breaks the 12 area in the next weeks.

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Alibaba Group Holding Ltd (NYSE:BABA) broke out of a small consolidation range to make new 52-week highs last week. The stock hit a high of $114,77, which is resistance for Monday’s move. Keep a close eye on the stock for the follow through move.

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Rubicon Technology, Inc. (NASDAQ:RBCN) Friday's big reversal on strong volume, created a bullish engulfing candle on the daily chart. Look for a move to 4.89/5.2.

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Apple Inc. (NASDAQ:AAPL) chart setup is flagging on Hourly. On watch for a break of top of flag. The technical Hourly chart above shows bullish sign as the stock bounce back up after touching 20EMA showing support.

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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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Thanks for the nice description and analysis on stocks. Apple and Alibaba performing well. I think Oclaro, Inc will perform well in few days or weeks. Let's see my prediction

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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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