Market Overview

Tuesday February 12th Watchlist

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OmniVision Technologies, Inc. (NASDAQ: OVTI) has consolidated sideways for the past several sessions under resistance near $16. If it clears resistance the move may be powerful. I notice that the Accumulation/Distribution line still growing, it means accumulation (buying).
 
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Pandora Media Inc (NYSE: P) continues to push higher and still looks like it has more to go. The stock got a nice bounce today off of the support of its 9-day EMA and it closed near the high of the day.  P could be bought if it can break over $11.94 on good volume and price action.
 
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MELA Sciences, Inc. (NASDAQ: MELA) There is a positive MACD divergence on the daily chart and this usually means that an upward movement is coming. If the stock can break through the 20-day EMA we should see heavy buying come and it will be a great buy here.
 
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Facebook Inc (NASDAQ: FB) closed slightly below its 50-day EMA today on low volume. The stock needs to regain this line of support tomorrow or things could get very ugly. The near-term trend is bearish and the stock faces a strong resistance at 29.11-29.45. A close above this range is a pre-requisite for the reversal of the bearish trend. 
 
 
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ADTRAN, Inc. (NASDAQ: ADTN) remains high on my radar due to the recent run up on heavy volume. I plan to buy the stock on a break above $21.17 and add more on a break above $22.09
 
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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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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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