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Saturday, January 10, 2015 

Stocks to keep an eye on January 12, 2015

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Twitter Inc (NYSE:TWTR) attempted to push lower in the last trading session, slipped below 38.5 but closed the day higher at 40.17 on decent volume, above the major horizontal resistance line and the 50-day EMA for the first time since October 2014, as you can see on my daily chart. This fact confirms and keeps the bullish scenario intact. I think we could still see further upside attempts next week re-testing the 42 resistance area. Further, the MACD still rising and the RSI remains above 50 levels, suggesting continuation of the uptrend on the daily charts.

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Arena Pharmaceuticals, Inc.(NASDAQ:ARNA) is pulling back after a strong rally and could form a bull flag pattern. The stock will probably need a rest here to clear the overbought conditions before making any further moves higher but the daily the momentum continues strong.

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Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) made a bit more progress to the upside on Friday by breaking a key resistance level built up last week and may still have a chance to run from here. It is likely to show further up side if the stock succeeds in convincingly breaching the resistance at 15 levels.

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Oasis Petroleum Inc. (NYSE:OAS) remains in this channel base pattern on hourly. This channel needs to be broken for a decisive move on either side. The positive divergences on momentum indicators chart support the bullish case. Institutions and insiders are adding positions. I'm long.

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Baytex Energy Corp (NYSE:BTE) On the hourly time frame, this Oil name also remains in a short-term sideways trend with positive divergence on oscilators, which means it could be basing for a move to the upside. Clear break above 14.89/15 area could trigger further bullish recovery testing 16.20. Immediate support at 14.32 followed by 14.01.

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Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) tried to break out on Friday but did not have enough strenght to move forward, caution is best right here. A long entry could potentially be made at 3.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.

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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