Market Overview

Stock charts to watch next week

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Dendreon Corporation (NASDAQ: DNDN) is breaking out with rising volumes. Next resistance lies at 12.69 and a close above this level will bring a target of 13.95. Stop loss should be 9.22 for all long positions on daily closing basis. Now, that the stock is on an uptrend and the MACD indicator is above signal line any pull back would mean great buying opportunity.

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The stock is at a critical level in its recent uptrend and has been a market outperformer. Apple Inc. (NASDAQ: AAPL) is at a critical level and a convincing close above 422.86 will give it room to go for the recent high of 426.70, however I took some profits off the table today. I guess next week will tell me if I was right or wrong. I sold my long position for a profit of $29 per share or 7.5%.

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Nuance Communications Inc. (NASDAQ: NUAN) has made a cup and handle chart pattern in daily charts and looks set for newer highs. Technically, the stock is still in strong bull market as both 50-day and 200-day moving averages are going up, with MACD on top of signal line and also KD at high level. So far NUAN is a good stock to hold for long time.

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I'm accumulating shares of InterDigital, Inc. (NASDAQ: IDCC) in antecipation of good news from the CES in Las Vegas. From a technical perspective the stock is trapped between its 20-week and 50-week moving averages. Long positions can be considered with a stop loss of $38.51 on daily closing basis. Targets are $45 and $49.30.

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Pacific Biosciences of California (NASDAQ: PACB) stock closed right at resistance. Continuation watching over $3. Although the moving average still shows weakness as 50-day SMA is below 200-day SMA, positive momentum seems to be back as the stock is back above 20 day moving average. In addition, the MACD is also back above 0 indicating the stock is back in bull market. The stock has build a support around 2.45 and 2.70 recently and has the chance to go up. Any breakout above 50 day moving average will be positive sign. Keep it in your watchlist. 
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Other stocks to watch :

US Earnings Calendar for Monday, January 9

Acuity Brands Inc - AYI
AEP Industries Inc - AEPI
Bank of South Carolina - BKSC
Bridgford Foods Corp - BRID
BSD Medical Corp - BSDM
CRA International Inc - CRAI
Credo Petroleum Corp - CRED
Frisch's Restaurants Inc - FRS
HB Fuller Co - FUL
Illumina Inc - ILMN
Imperial Sugar Co - IPSU
Jewett-Cameron Trading Company Ltd - JCTCF
M&T Bank Corp - MTB
Meade Instruments Corp - MEAD
Mistras Group Inc - MG
Msci Inc - MSCI
OCZ Technology Group Inc - OCZ
Penford Corp - PENX
PosCoRaptor Pharmaceutical Corp - RPTP
RF Industries Ltd - RFIL
Schmitt Industries Inc - SMIT
Schnitzer Steel Industries Inc - SCHN
Skyline Corp - SKY
Standard Microsystems Corp - SMSC
Taylor Devices Inc - TAYD
VOXX International Corp - VOXX
VSB Bancorp Inc - VSBN
WD-40 Co - WDFC
West Marine Inc - WMAR
Zep Inc - ZEP

New 52-week High stocks

NWSA - News Corp Ltd
DHI - Horton DR Inc
APOL - Apollo Group, Inc.
ARIA - ARIAD Pharmaceutical
ROST - Ross Stores, Inc.
VPHM - ViroPharma Incorporation
CTAS - Cintas Corporation
FAST - Fastenal Company
ALXN - Alexion Pharmaceutical
SCSS - Select Comfort Corp
BMRN - BioMarin Pharmaceutical
CBST - Cubist Pharmaceutical

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 preceding 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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