Market Overview

Stock Picks for Tuesday October 02, 2012

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Research In Motion Limited (USA) (NASDAQ: RIMM) continues to show relative strength. The stock rose 4.8% on heavy volume. The recent bounce is doing a lot to improve the technical picture. The indicators are beginning to favour a further up move. The MACD is back in positive zone and is above the signal line. Additionally, the slow stoch has moved above the 50% level in a V shaped rebound while the RSI is rising above the 50% level, supporting a short term uptrend. My first target is the $8.35-8.50 range.

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I see no change from my previous updates. Shares of InterDigital, Inc. (NASDAQ: IDCC) have been out performing the market and it cleared resistance in the $36-36.11 zone during the Thursday's trading session. The stock is now hitting new four-month highs. My first target is $40. Second target is $46. The stock appears to have heavy resistance in the $40.50-40.92 zone. I still holding my shares.

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iSoftStone Holdings Ltd (ADR) (NYSE: ISS) Seems like a good risk/reward at present levels and could get some momentum above $5.51. The company provides various information technology (IT) services and solutions in the Greater China and internationally. The stock is trading pratically at book value, it has 1.07 cash per share and no debt. It's a China stock, but I like the fact it's not a reverse merger as it it had its IPO in January 2011.

 
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Meru Networks, Inc. (NASDAQ: MERU) - Break out watch over  3.51/3.55

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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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AC

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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