Hello Folks !! I'm back from my Easter vacations and ready to keep blogging for your reading :D During today's trading session I was scanning some charts and I stumbled upon Las Vegas Sands Corp. (NYSE:LVS), whose stock has shown remarkable strength over the last four months. The stock made a new 52 week high this afternoon and was one of the big winners on Monday, closing up $1.86 on the day. LVS traded heavy volume as it hit a high of $60.85. This high is resistance for Tuesday’s continuation move. The technical chart still showing that the stock is in a bull market rally as MACD is on top of signal line and %K line is on top of %D line. In addition the medium term trend is also bullish as the stock is above 50-day and 200-day moving averages with both moving averages going up. The stock needs to stay above the 20-day MA to keep the short-term outlook positive.
Molycorp, Inc.(NYSE:MCP) looks to be setting up for an upside move, as the stock has held up well the past few days. MCP stock is in the top of a short-term trading range. Resistance is $35.6. At this stage it is definitely a wait and see if the resistance will be easily taken out by the bulls. Stay tuned.
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FormFactor, Inc. (NASDAQ:FORM) - Today, DA Davidson initiated the stock with a "Buy" rating and a price target of $12. Technically the stock is holding up nicely above the key support of $5 in this weak market environment. It has a good base which can be used as a stop loss for long position. On the upper side, the move is likely to accelerate above $5.5. Short-term investors can hold the stock as long as it trades above $5.
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Liquidity Services, Inc. (NASDAQ:LQDT) broke out today and traded nearly 2x normal daily volume. The stock has the potential to make a big run on Tuesday, so keep a close eye on LQDT and don’t miss the trade.
( click to enlarge ) Wynn Resorts, Limited (NASDAQ:WYNN) - The daily chart shows a bullish falling wedge on low volume. Watch for a break of 125-126 that could mark the beginning of the next uptrend. We just need the volume to pick up.
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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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