6 Interesting Charts To Consider

by António Costa, Benzinga Contributor
June 6, 2012 5:08 PM | 3 min read |

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Shares of Zynga Inc ZNGA finally rebounded on heavy volume. Gonna have to watch it carefully now tomorrow to see if we've hit bottom and should grab some for the ride back up. 



Morgan Stanley MS The stock broke out a major resistance level and I expect another strong move tomorrow. Today's high was $13.99, which is resistance for the follow through move on Thursday. If the stock does break resistance, expect to see another strong upside move. Looking at the technical chart there looks to be more room in this move, so watch the stock closely over the next few days.

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Today Career Education Corp. CECO has attempted to breakout of the major resistance but closed right at the resistance level. Breaking out of $6.98 resistance on a close basis at high volume will be deemed as a bullish signal and could result in further upside. Both RSI and MACD are bullish as MACD continue to trend upwards and the RSI is now above the 50% level. I'm long on this stock and not afraid of the daily fluctuations, I'll be rewarded in the long run.

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Bank of America Corp BAC has made an awesome move today breaking out of the recent swing high with volume backed confirmation. The next resistance that it should try to respect is at 8.11. 

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Dollar Tree, Inc.DLTR has an interesting formation on its daily chart, as the stock looks to have broken an inverted head and shoulders pattern combined with a new 52-week high and should push nicely higher over the next sessions.

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Zalicus Inc ZLCS Could be flagging before next move up. On watch.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog  twitter and newsletter, so you can receive my trade ideas and stock news in real time.  

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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