Market Overview

9 Technical Setups for the Week Ahead

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Research In Motion Ltd (NASDAQ: BBRY) As you can see from the chart above, the short-term outlook is sideways, while the 200-day exponencial moving average still supports. The medium-term outlook is bullish and my model is long. BBRY has the opportunity to start new rally as %K line is again back above %D line. If it breaks above 14.21, then it can easily climb to 16 or above.

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Google Inc (NASDAQ: GOOG) crossed its immediate resistance on Friday. It has a good base at $760 which can be used as a stop loss for long position. On the upper side, the move is likely to accelerate above $809. Long setup.

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InterDigital, Inc. (NASDAQ: IDCC) closed below its 200-day exponencial moving average at $40.45 again. Generally, this is a bearish indication. Only a close above this key level would suggest recovery.

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Very bullish action on Celldex Therapeutics, Inc. (NASDAQ: CLDX) this week. The stock firmed around 12-12.3 and then broke out with two days of high volume. Looks good for higher prices.

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Keryx Biopharmaceuticals (NASDAQ: KERX) looks like it is getting ready to move. The stock had a nice move on Friday and I am looking for it to continue next week. I am buying KERX once it breaks above Friday's high of $8.06 on the continuation move. The technical chart above shows the stock is on a strong bull market as the stock is trading above 50-day and 200-day moving averages with both pointing upwards.

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Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) is screaming for a bounce opportunity and I think we can see some nice moves next week. Keep on watch.

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Lions Gate Entertainment Corp. (USA) (NYSE: LGF) is trading near its all time high. Buy only when the stock breaches $24.15. Once the stock breaks this level, we should see a strong upside move. LGF will move very quickly, so keep the stock on your screen throughout the day on Monday.


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The chart of Pharmacyclics, Inc. (NASDAQ: PCYC) is now much improved after Friday's action. The stock  starts showing buy signals again. The MACD has reversed again the course and stock finally closed above its 13-day exponential moving average, usually this is a short-term Bullish signal. Wait for it to break 78.45 on heavy volume or buy on the pullbacks above 71.85 with it as a stop.


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Santarus, Inc. (NASDAQ: SNTS) Keep an eye on this one, looks poised to break out and run 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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The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Markets Trading Ideas

 

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