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Saturday, February 07, 2015 

Stocks to keep an eye on February 9, 2015

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Zynga Inc (NASDAQ:ZNGA) The gaming sector is getting HOT again and this stock should be in your watchlist next week. The stock is testing its downtrend line since Sept 2014 with a lot of indicators showing up. It has an up trending RSI currently at 60, indicating bullish potential and it is witnessing a reversal in the MACD, which could symbolize accumulation. If the stock breaks and closes above 2.80, then the rally can be extended further 2.93 and 3.19 levels. I went long at 2.74 and have a stop loss at 2.46.

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I also would like to bring your attention King Digital Entertainment PLC (NYSE:KING) a company well positioned in the gaming industry and I believe it may be significantly undervalued. The daily chart is currently showing a small ascending triangle formation with resistance sitting firmly just below 14. In the short-term, momentum remains bullish. The daily MACD has reversed, the histograms are positive and daily RSI has turned up. Keep KING on your radar screens, because I think a breakout is imminent.

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Keep an eye on Sodastream International Ltd (NASDAQ:SODA). Looks poised to break this falling 50EMA. Although the stock faced a minor dip in yesterday's session, the technicals remain bullish. I still holding my long position.

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Qihoo 360 Technology Co Ltd (NYSE:QIHU) broke back above the 50-day exponential moving average on decent volume. Keep on watch to break this horizontal resistance line and go long. The daily MACD is trending higher aboveits signal line and just crossed the ZERO level, showing a shift to bullish momentum. Potential long setup with a stop slightly below the 60 level.

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Novavax, Inc. (NASDAQ:NVAX) Tried to clear this key resistance level on Friday but failed, watch for the break on heavy volume.

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Endurance International Group Hldgs Inc (NASDAQ:EIGI) surged 9% or $1.49 to $18.06 per share on Friday, with volume which was 3x above average. The move pushed the stock above the $17.29 resistance level (20EMA) and produced a pocket pivot buy point. Let's see if next week it breaks over 18.26 and retest the recent highs of 19.09

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Vringo, Inc. (NASDAQ:VRNG) appears to be forming a potential rounding bottom that could indicate a trend reversal. The MACD is on the buy zone now and RSI is rocking upwards, given the strong price movement in the past couple of days. VRNG has an upside potential of another 25-35% if it breaks 68c mark comfortably on volume. Vringo stock is volatile, so traders should keep previous week's low as a stoploss. I went long at .653.

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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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I agree on ZNGA and took a position last week on the earnings run-up. I also like that the SMA(4) has crossed over the SMA(9) recently for some short-term momentum. Looking forward to see what happens. That run to $3.19 seems a bit of a long shot but there is room there.

Can you please explain what you mean by this? Thanks.

"I went long at 2.74 and have a stop loss at 2.46."

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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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