( click to enlarge )FormFactor, Inc. (NASDAQ:FORM) rebounded from the support line located at $5.58 and closed slightly below the highs of the day, closing at 5.82, a gain of 23 cents or 4%. I will be watching the stock to breakout the resistance level at $6.3, which will tell us that the downtrend should be over. The technical indicators are showing signs of bullishness.
( click to enlarge )Career Education Corp. (NASDAQ:CECO) finally closed over the 50SMA after rebounded from the immediate support level located at $3.8. On the upside there is resistance located between 4.50-4.61. If stock price can close back over these resistances level i think we could see a retest at 5-5.28
( click to enlarge )Apollo Group Inc (NASDAQ:APOL) 50-day SMA held, 13-day SMA crossing 50-day SMA. MACD and RSI continue upward trend. I will go long on break above 30.41
( click to enlarge )Molycorp, Inc. (NYSE:MCP) showed some nice strength today, despite the market was down. At this level, we should see the stock might retest the resistance located at $13.99 followed by $14.13. The support level is adjusted to $12.54. Today, I added a small position and i'm still holding some for long term investment.
( click to enlarge )Very important day for Arena Pharmaceuticals (NASDAQ:ARNA) tomorrow, it will be interesting to see if the stock can break 9.44 . Squeeze seems eminent.
( click to enlarge )Gilead Sciences, Inc. (NASDAQ:GILD) hit a new 52-week high today trading as high as $67.55, before settling at a close of $66.77. The 52-week range for GILD is 34.45-67.55. Although sentiment remains bullish on the stock, extremely overbought conditions could see a corrective decline in the coming sessions. Immediate support is at 62.32-62 levels now. Looking at the technical chart above the stock is trading above all of three major moving averages. Plus, the MACD is positive and rising. Nevertheless, there is a need for some profit-taking for some consolidation from these high levels. For those who did not have a chance to buy the stock, any pull back is your buying opportunity.
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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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