Watchlist for Tuesday, May 15

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XenoPort, Inc.XNPT - This stock I alerted to my subscribers/twitter followers on Friday at $4.75, today it closed at $5.93. There is nothing that makes me happier, than my readers and twitter followers making substantial profits. Over 10% of the float is short this stock and as Shorts buy back shares, the stock should continue to track higher. At this point, I think XNPT should see $6.4 in the near term.

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Medivation, Inc. MDVN - Nice looking breakout with volume. The stock hit a high of $88.51 which is now resistance for Tuesday's follow through move. From a technical standpoint, the stock is well above the three SMA's, which are all moving up and the RSI has moved up into the overbought zone. The MACD is rising in the positive zone and is above the signal line. The bulls may continue their domination for a while longer, but you should be prepared for a quick correction.

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Melco Crown Entertainment Ltd MPEL broke support today on heavy volume, next support at $12.40

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QUALCOMM, Inc. QCOM needs to hold $60.8 area on the downside or things could get very ugly. On the upside, the stock has resistance located betwen $64 and $65.

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Ariad Pharmaceuticals, Inc. ARIA - This still looks pretty good on the chart with volume expanding as it moves higher. The stock continues to look bullish and had a decent day today. The stock hit a high of $17.28, which is resistance for the next upside move. I'm buyer of ARIA once it breaks through this high and i expect to see heavy buying drive the stock higher.

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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

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