Stock setups to watch next week

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The technical chart of FormFactor, Inc. FORM is showing a bullish cup and handle chart pattern in the final stages, which indicates the stock could be in for a big rally. FORM just needs to clear the handle base. Additionally, the moving averages are supporting bullish trend with the 20 and 50 both over the 200-day moving average and sloping higher. ADX is also suggesting a steady upward movement and the accumul/distrib indicator still shows that somebody is buying up the stock. I'm still holding my longs and will add more shares on a move above $6.55, with the expectation of a continued rise to $7-7.5

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Shares of Apple Inc. AAPL closed up 2.63 per cent at 584 with increasing volumes. Long positions can be considered with a stop loss of 565 on daily closing basis. Initial targets are 590 and 597.

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Shares of Pharmacyclics, Inc. PCYC closed the day gaining more than 4% to a new historic mark for stock at $54.61, near the highs of the day at $55.43. The stock has been one of the most amazing runs of the past four weeks. I'll be watching the stock next week, looking for a follow through move. As long as the stock stay above $43.31, the short-term bullish scenario still intact.

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Arena Pharmaceuticals, Inc. ARNA - After setting a fresh yearly high at 13.50 on Wednesday the stock started showing bearish divergences and a few sell signals start to develop. However we are still above key support 8.62. On the upper side, the move is likely to accelerate above $12. Short-term investors can hold the stock as long as it trades above $8.62

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Altria Group, Inc. MO broke out from a rectangle pattern accompanied with decent volume. We should be able to see some decent upside movement for the bulls here.

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Raytheon Company RTN - Broke out today on good volume. No resistances above.   

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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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