Potential Long Setups for Friday, April 20
( click to enlarge )Microsoft Corporation (NASDAQ:MSFT) are trading higher in the after-hours after reported fiscal third quarter profit that topped estimates on better-than-expected corporate software sales. Currently, shares are higher by 2.90%, trading at $31.90, they ended the regular session lower by 0.42%, at $31.01. A breakout above $31.57 would constitute a technical entry for the short term trader looking for a quick trade.
( click to enlarge )Sequenom, Inc.(NASDAQ:SQNM) chart looks really good. SQNM has been in a nice uptrend for the last two weeks and it looks very strong with the 20 day moving average going up. MACD is also indicating that the current short term price trend is very bullish. In addition, the On Balance Volume is increasing, indicating accumulation of shares in the market. I'm still maintaining the buy rating on SQNM as the technical chart still shows very bullish sign.
( click to enlarge )Strong enough to say.....and the Bulls are back !! I've been following Dendreon Corporation (NASDAQ:DNDN) for a few days now and surprisingly it showed some strength today in a depressed market. DNDN was an alert this morning at $9.6 via twitter and it closed the day at $10.03 for gains of over 11%. The stock price also broke above the 20 DMA accompanied by large volume, a sign that the sky rocketing action has credibility and is not just some result of speculations. On the momentum front, I'm seeing some positive divergences in several indicators. The price can head towards the $10.42-$10.74 zone. If this zone is surpassed, getting to $11 would be a possibility.
( click to enlarge )The break of the 50 DMA with heavy volume should be the next buy point on Tellabs, Inc. (NASDAQ:TLAB). The technical daily chart above shows the momentum indicators have turned up and the RSI is on the rise. Although both 50 day and 200 day moving average are showing weakness, KD line is indicating upward swing. For the short term the stock should still continue to go up. A close above $3.93 would have positive implications and could push the stock to the 4-4.1 range.
( click to enlarge )FormFactor, Inc.(NASDAQ:FORM) - I'll continue to accumulate this stock on weakness. Positive MACD divergence. The stock is simply telling me that this is a nice healthy pullback after a nice run. Yesterday's volume to the upside was strong. The trend should resume back up in the very near future. I could be wrong, but I didn't find a reason for the drop in shares as it did. It was likely a consequence of the negative market environment.
( click to enlarge ) Marriott International, Inc. (NYSE:MAR) just broke out of a short consolidation phase. Looking at the technical chart, the stock shows a continuation of the trend with MACD and RSI in Bullish areas. The RSI value is currently above 65 but it has not reached the overbought region. MAR is now a stock in Breakout mode. During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.
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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AC
