Hot stocks to watch for short term

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MercadoLibre, Inc. MELI was very strong trading 3x normal daily volume. MELI had big buyers in it all day and looks ready to make another move tomorrow.

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Advance America, Cash Advance Centers AEA has made a new 52-week high of $9.44, after gaining 2.19% in today's trading. The 52-week range for AEA is $4.70-$9.44. Although sentiment remains bullish on the stock, overbought conditions could see a corrective decline in the coming sessions. Immediate support is at $8.90-9 levels now. Looking at the technical chart the stock is trading above all of three major moving averages. In addition, the MACD is positive and rising. Nevertheless, there is a need for some profit-taking for some consolidation from these high levels. For those who did not have a chance to buy the stock, any pull back is your buying opportunity.

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Pacific Ethanol Inc PEIX is facing a key resistance at $1.60 levels. The short-term uptrend is intact and signals further bullishness on this stock. Buy the stock in dips with tight stop-loss at $1.10.

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Today was another good day for Zalicus, Inc. ZLCS. The stock finished the day up 3.45% on huge volume of over 1.8 Million of shares traded and is already up more than 25% since my initial alert on twitter. Great volume and a 3% gain on the day makes the stock a clear and easy winner. Looking at the technical daily chart this looks to be just the beginning of ZLCS's run and I'm extremely confident that the gains will continue. Right now, the stock is testing a short-term resistance at $1.20. ZLCS appears to be under accumulation again. The MACD momentum has turned positive and Stochastic are on a strong uptrend which when combined with the strengthening MACD could spell a strong move for the stock. The stock is beginning to turn and I want you to be able to see as much of this move as possible.

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Cell Therapeutics, Inc. CTIC traded higher today after the company announced that the U.S. Food and Drug Administration's  Division of Oncology Products 1 has notified CTI that CTI's October 2011 resubmitted New Drug Application is considered a complete, Class 2 response to the FDA's April 2010 complete response letter ("CRL"). The FDA has set a Prescription Drug User Fee Act goal date of April 24, 2012 for a decision on the NDA. The NDA seeks accelerated approval of pixantrone to treat relapsed or refractory aggressive non-Hodgkin's lymphoma ("NHL") in patients who failed two or more lines of prior therapy. CTIC hit a high of $1.43, which is resistance for the continuation move. There are several short and mid term technical indications suggesting that the stock  could make a move to higher levels. Keep an eye on CTIC again on Wednesday.

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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