Stocks on Watch for the 18th of April
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Congrats everyone who bought this stock when I put out an alert on it. Sequenom, Inc. (NASDAQ:SQNM) has gained more than 30% value in the last five sessions, but don't think for a second that SQNM is finished it's just getting started ! From a technical stand point the stock has reversed the downward trend with MACD back above 0 and stock trading above 50 day moving average. In addition, KD also indicate positive momentum. OBV confirmed trend reversals. The stock is not yet overbought and there is room for a move up to 5 (but there may be resistance around 4.77). Insiders are also very bullish about the company and have been buying shares in the last six-months. Recent surge may spur profit taking but for the medium term the technical is looking good.
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Pacific Ethanol Inc (NASDAQ:PEIX) Needs to hold the 200 DMA (0.85) now and recover to keep us in the play. Short term indicators are in favor of bears.
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Ciena Corporation (NASDAQ:CIEN) Technical chart looks pretty good as the golden cross has formed early March, RSI is around 60 and MACD is above 0. I believe the stock is setting up to break out and has one more level to go, which is $17.39.
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Verisign, Inc. (NASDAQ:VRSN) had a strong move today, as the stock set new 52-week highs. The stock hit a high of $42.07, which is resistance for the follow through move. The long term trend is bullish as the stock is above 50-day and 200-day moving averages with both moving averages going up. You should watch this stock closely on Wednesday.
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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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