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Thursday, January 22, 2015 

Stocks to keep an eye on January 23, 2015

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United States Steel Corporation (NYSE:X) has broken to the upside out of its declining channel. Daily resistances can be found at 23.37 (EMA13) and 24.12. Many tehcnical indicators are also bouncing off their lows as you can see on chart, which looks encouraging.

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First Solar, Inc. (NASDAQ:FSLR) I'm seeing a potential falling wedge pattern with a nice positive divergence on MACD, and they often break to the upside. A close above 42.55 should be enough to trigger a rally towards the 44 level. The recent bounce remains intact as long as the daily support at 40 holds.

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DryShips Inc. (NASDAQ:DRYS) A break through the top of the wedge at 1.05 could lead initially to 1.36, the recent high. The daily MACD is also diverging positively, suggesting a recover is just ahead.

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Baytex Energy Corp (NYSE:BTE) surged in the final hour of trading closing slightly higher. The real fireworks should begin if the stock price can close above $15.43. Keep it on your watch list going forward.

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Plug Power Inc (NASDAQ:PLUG) broke out of a base pattern with high volume, creating a significant amount of bullish potential. The area comprehended between 3 and 3.15 represents a heavy resistance for shares. Any close above this area, would have positive implications and could drive the stock much higher. Keep the stock on your radar.

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VirnetX Holding Corporation (NYSEMKT:VHC) had a pretty good rebound on price accompanied with volume. On the technical daily chart above, we can see a few technical signals suggesting that a swing higher may be in the cards. First, the MACD is displaying a new bullish crossover. At the same time, we see that the daily stochastics are showing positive momentum from oversold levels, which should reinforce a move higher if near-term resistance at $5.65 is taken out. Finally, The RSI is starting to bounce back from oversold territory. I feel there will be an upside move very soon, which is why I continue to follow this stock. The near-term upside objective is at $6.8. It's a short squeeze candidate with a short ratio of 11 (days to cover).

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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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