Market Overview

Stocks to Watch for August 27, 2013

( click to enlarge )

M&T Bank Corporation (NYSE: MTB)is in a flag formation off its up move since June. The 119.5 area has contained the move on 3 occasions in the last 2 months. An ideal buy point would be just above the resistance of 119.54, which would confirm the breakout and continuation of the uptrend towards a target of 123-123.5.
( click to enlarge )

3D Systems Corporation (NYSE: DDD) today broke above the resistance line of a symmetrical triangle pattern on a move up $3.46 cents to 51.90. The stock traded heavy volume as it hit a high of $54.08. This high is resistance for Tuesday's continuation move.
( click to enlarge )

Eldorado Gold Corp (NYSE: EGO) is threatening to break through the 9.5 resistance level which would be a very bullish sign. The stock has been strong over the past weeks, so watch it closely the next few trading sessions.
( click to enlarge )

International Game Technology (NYSE: IGT) broke out of a small trading range and could continue on Tuesday. The stock hit a high of $19,64, which is resistance for Tuesday's follow through move. If the stock breaks resistance, expect to see heavy volume move the stock higher. Keep a close eye on IGT as it can be a fast moving stock.
( click to enlarge )

Oncothyreon Inc (NASDAQ: ONTY) appears to have run out of sellers at current levels. There are some signs that the stock is gaining some momentum in recent days. The technical chart shows some positive divergences on MACD and CMF. A close above $1.77 would confirm the positive outlook and could push the stock to the target zone of $2. Keep an eye on ONTY and be prepared for this upcoming move.
( click to enlarge )

BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) finally broke the major resistance, hitting a new 52-week high. Today's high of $7,41 is resistance for the continuation move. At this stage, the stock is a bit extended short-term for additional positions and is in the overbought zone. I really like the chart but at this level I would wait for a pull back to around 6.47-6.53 before putting any cash to work. Keep the stock on your radar.

( click to enlarge )

Novavax, Inc. (NASDAQ: NVAX) broke out on huge volume. The stock closed up $.16 today and looks poised to make another move on Tuesday. If NVAX breaks through today's high of $3.12, I am a buyer of the stock. 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 with both moving averages pointing upwards. I will watch the stock closely on Tuesday and buy once it breaks through resistance.

Don't miss this week's free webinar: August, 26th - 30th - Seats are limited - To register for a free webinar just click HERE

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.



Thanks for visiting AC Investor Blog.



AC

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

 

Related Articles (DDD + BCRX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters