Market Overview

Wednesday December 12th Watchlist

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Super Micro Computer, Inc.(NASDAQ: SMCI) About To Breakout ? After over two months of remaining below $10, SMCI could be in the early stages of a big rally. Today, the stock moved higher and I would not be surprised if it tests the $10.5 level before the year ends. The technical daily chart shows an inverted head and shoulders pattern with positive MACD and rising RSI. The stock is now trading above 20-day and 50-day moving average, a bullish sign. The volume is also picking up. A break above 9.50 offers an objective of 11.15. Fundamentally, this company is profitable, it had sales of $1.04B, which gives a price to sales ratio of 0.32, a reasonable balance sheet with a current ratio of 2.24, a debt equity ratio of 0.11 and has promising forward PE of 8. SMCI should be watched closely.
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Shares of Research In Motion Limited (USA) (NASDAQ: RIMM) today broke out of a bullish consolidation pattern that has been a pause in its steep more than 45% up move in November. Look for follow-through on Wednesday with increasing volume to confirm today's move.
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Green Dot Corporation (NYSE: GDOT) on the way to test the $13 level again. The technical daily chart above shows that stock has consolidated into a really tight range lately and is still trading within a rising channel that started in October. With the stock again above the 50/100 day moving averages and stochastic moving up, it looks like the stock is heading for the top of the channel again !!!
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NVIDIA Corporation (NASDAQ: NVDA) broke the downtrend line on Monday and closed above its 50-day moving average today on high volume. This technical daily chart tells you that the place to be in NVDA is on the long side. The next major resistance resides around the 13 price region. Only a close above this level would suggest further upside.
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The short-term outlook for Groupon Inc (NASDAQ: GRPN) is bullish. Fresh long should be made only when the stock closes above 4.88 with an up candle.
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Power One Inc (NASDAQ: PWER) is showing signs of bottoming out on the charts along with the MACD and Stochastics giving positive signals. The price can move up to 4.79-5 in the short-term. Good base building around 4.
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