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Saturday, March 12, 2016 

Stocks to Watch for March 14, 2016

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First Solar, Inc. (NASDAQ:FSLR) On the daily technical chart the stock continues its up trend, with higher top and higher bottom formation. Recent high volume activity, along with positive crossover of MACD oscillator on the daily charts, suggest fresh buying interest in the stock. The daily RSI is sustaining above the 50% level and supports the bullish argument. Also, the 100-day exponential moving average continues to act as a strong support. So, as long as the stock holds above this key moving average, the trend remains to the upside.

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CombiMatrix Corp (NASDAQ:CBMX) closed on Friday at 5.78, gaining 5.67%. The stock shows signs of bottoming out with the recent up move fromits 52-week low. It has also moved back from oversold zone and maintains bullish bias by holding above short-term moving averages. I continue to see a confluence of "buys", with RSI crossing above 50 and MACD heading up. The company management will participate in one investor conference next week at the 28th Annual ROTH Conference on Wednesday, March 16, 2016. This could be a positive catalyst for shares.

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We finally got the breakout in Automatic Data Processing (NASDAQ:ADP). Shares rallied past resistance near $87 and hit my trigger to open positions. If the near-by support at $86.71 holds up on Monday, a rally up to the $89.5 level is probable or even possible. Only a close below $86 would negate the positive outlook. From a technical standpoint, the stock maintains a bullish bias with its recent run up, backed by the key daily momentum indicators.

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Advanced Micro Devices, Inc. (NASDAQ:AMD) printed a bullish engulfing candlestick pattern on Friday and some volume came in. It looks good to continue higher from here as long as the market is moving with it. The momentum indicators on daily charts suggest signs of up move and the stock is likely to show further advancement on a successful break out of the 2.55 level.

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Vipshop Holdings Ltd - ADR (NYSE:VIPS) is displaying a short upside momentum and is poised to move higher from these levels. Short-term traders could go long once the share price moves above the declining 50-day exponential moving average. Although this trend is encouraging, the medium-term outlook stays cautious till the stock closes conclusively above $13 on heavy volume.

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Alphabet Inc (NASDAQ:GOOG) closed Friday's trading session at 726.82 above the previous high, signifying that a new short term uptrend is in place. Near term support is now located at $720, as long as this level holds, I'd expect the uptrend to continue. Key indicators on daily charts also suggest continuation of the rally, potentially up to the 740 level.

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Facebook Inc (NASDAQ:FB) shows signs of reversal of trend with its recent advancement, however only a strong close above 110.55 would indicate that the stock is ready to move higher. We need to see more volume on the upside.

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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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