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Saturday, December 13, 2014 

Stocks to Watch for December 15, 2014

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Glu Mobile Inc. (NASDAQ:GLUU) The stock price is currently compressed by the 50-day EMA and the upper line of the descending channel within which the price has been trading since July. Will the stock break through this resistance ? Or retrace down ? If able break through 4.08, immediate resistance would be the 100-day EMA which is 4.38 level. If retrace down, 3.80 (13 & 20 EMAs) is strong support level.

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Basic Energy Services, Inc (NYSE:BAS) After huge retrace down, the stock seems to be showing a significant amount of capitulation here. Plus, with the daily momentum indicators at extreme oversold levels after last week’s selloff, a potential rebound is round the corner. I went long on Friday.

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TGC Industries Inc (NASDAQ:TGE) is another potential bottom-play, might bring some good scalping opportunities to the 2.75 level. Stochastics are triggering reversal and MACD is showing signs of bottoming.

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Denny's Corporation (NASDAQ:DENN) Not a good candle formation in the last session, most probably it will retrace down to test the breakout support. RSI & Stochastics remain very overbought, so a pullback within the next couple of sessions cannot be ruled out.

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Celldex Therapeutics, Inc. (NASDAQ:CLDX) My read is that the pullback is almost over and the stock can continue upwards. Since its high-volume up-move in the middle of the November the stock has been bullishly flagging on low volume. The previous breakout level (now very strong support) should attract buyers next week.

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Facebook Inc (NASDAQ:FB) failed to trade lower by the end of last week and the stock price is now in a short-term bullish trend as seen on the chart above. We should be able to reach 79.71 as long as we trade above the 50-day EMA. MACD is rising in the positive territory.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) broke the bear flag to the downside on increasing volume. Based on the technical chart above, I think that there is a high probability of further downside momentum. Only a move back over 4.08 would negate the immediately bearish bias.

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Sangamo Biosciences, Inc.(NASDAQ:SGMO) Over the last two days of trading, the stock saw strong bullish momentum, something that helped the stock advance approximately 25%. This rally was halted slightly below the key resistance barrier of 17. Will the stock break through this key resistance next week ? Honestly, I think the stock could rest here for a bit before we see the next move up. The technical daily chart above shows the stock is about to be back to bull market as the 50-day EMA is about to cross on top over the 200-day EMA. Additonally, the MACD is still rising and above zero. Lets watch it closely.

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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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