Momentum Stocks for Next Week

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Atmel Corporation ATML - The long-term outlook turned overtly positive when the stock moved past its previous high of $6.03 in August last year. ATML recorded the peak of $16.80 early this month and is currently in a correction with support level at the 50-day average which is currently at $13.85. Although price of the stock is in a clear uptrend, the momentum indicators are showing signs of weakness. Both stochastic analysis and MACD charts are flashing bearish outlook for ATML. MACD has a bearish crossover too. I stay with the view that investors with medium-term perspective can hold the stock as long as it trades above $13.85 ( 50-dma ). However any close below this level can impart further weakness. Short-term resistances would be at $15.64 and $16 while long-term resistance for the stock is at the previous peak at $16.80. 

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Parker Drilling Company PKD is very bullish with a lot of hot indicators showing up. The slope of the upward move is very steep accompanied by increasing volume. The stock closed at $5.24, up 29 cents (+5.86%) on volume of 1.8 Million. PKD has a good looking stock chart price broke out from the horizontal resistance mark around $4.80. All indicators are in favor of an upward price movement. Key intermediate resistance for the stock however exists in the zone between $5.52 and $5.76. This momentum could push this stock much higher from here, so keep it on the radar.

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Motorola Mobility Holdings, Inc. Common Stock MMI has finally closed above its 50 week moving average currently placed around levels of $30.57. This stock has just started moving higher and established a short term up-trend. Momentum indicators are slightly bullish now with RSI inching away above the middle level. The strongest sign of a bullish momentum is the MACD indicator which has just started to increase. The On Balance Volume is also showing positive signs on the stock. Price is expected to at least rally the next resistance at $32.12 and even go higher to test the next resistance level at $33. The forecast is valid only if the price of MMI stays above $28.80 and if this support level is breached, price of the stock may fall further to $27.44.

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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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