Market Overview

Thursday January 24th Watchlist

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Microsoft Corporation (NASDAQ: MSFT) had a great move on the upside today and closed above its 50-day EMA for the first time since November 2012. A break through today's high could see a rapid move back up to the $28 resistance area.
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Rubicon Technology, Inc. (NASDAQ: RBCN) is getting some buying and looks poised to post some nice gains if the buying volume persists. Higher volume often indicates reversal points. The stock displayed relative strength today and broke out above resistance at the $6.50 level. This could be the start of a nice run. A lot of technicals are saying RBCN is about to take off. Continue to keep this stock on your radar.
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Keep Zynga Inc (NASDAQ: ZNGA) on your watch list. A break of $2.49 (50-day EMA) with force might give the stock room to $2.66
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Tesoro Corporation (NYSE: TSO) is on a good upward run but a resistance level has formed at $45.44, setting up for a possible resistance breakout trade. Keep it on your radar.
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Bottomline Technologies (NASDAQ: EPAY) seems to have broken out of an ascending triangle with 27.74 as resistance,  closing higher with good volume. Target price for the ascending triangle is at $30. The MACD seems to confirm the breakout, but RSI is near overbought level. If tomorrow, this stock gaps up, wait for a pullback to get in.
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