Market Overview

Watchlist for Monday October 8th

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XenoPort, Inc. (NASDAQ: XNPT) has seen a strong run from the start of the summer and on Friday hit its highest levels in almost 2 years following the release of phase 1 clinical results for its oral relapsing-remitting multiple sclerosis treatment, XP23829. I wrote several times about XNPT in May, when buying volume picked up. I posted it in the blog ( Thursday's Stocks To Watch, May 24 2012 ) as a stock to watch and the twitter. The stock was at $5.87 and it closed yesterday at $12.86 on strong money flow. XNPT is still one of my favorite stocks. 
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InterDigital, Inc. (NASDAQ: IDCC) failed the breakout on Friday but this price seems safe. If the stock consolidates at this level, it might make for a good breakout play in the future. Hopefully the 36 resistance level will become the new support level and we will see a small pullback and consolidation before the next move. I see no reasons to sell the stock now. Don't forget about the potential company share buyback ( $200 million ) and other recent positive news. The accumulation over the past weeks has shown funds moving into the company and moved share prices upward.I'll keep it on the list.
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Huntington Bancshares Incorporated (NASDAQ: HBAN) is consolidating. Long over 7.24
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If Groupon Inc (NASDAQ: GRPN) can close above $5.25 this coming week, there should be some nice momentum in the stock. The RSI analysis is signaling a bullish outlook which can be further confirming in MACD and ADX charts.
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VeriFone Systems Inc (NYSE: PAY) had a daily close above the 20-day moving average on solid volume. If momentum can carry the stock above 32.99, there seems to be plenty of upside. Stochastic and MACD analysis are indicating bullish outlook.
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OmniVision Technologies, Inc. (NASDAQ: OVTI) looks to be oversold and under accumulation. I will be watching for any kind of news and unusual volume for confirmation of a short-term bottom reversal. From a technical standpoint, the MACD histogram started to improve by making shorter lines, showing less selling pressure. In addition, the fact that OVTI closed above its 7-day moving average for the second day in a row could be a telling sign for next days trading. A daily close above 14.5 could spark a momentum buying.
 
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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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