Stocks Picks for Thursday, February 16 - InterDigital (NASDAQ:IDCC)

( click to enlarge )

Dendreon Corporation DNDN has held up better than the other stocks and bounced off the key support line of $13.85 with expanding volume. Short-term investors can hold the stock as long as it trades above this support. If the stock can break through Wednesday's high of $15.50, we should see a strong follow through move. Keep watching DNDN for a bigger move soon.

( click to enlarge )

MercadoLibre, Inc MELI - Nice break out today on big volume.

( click to enlarge )

InterDigital, Inc IDCC - Something is up...better volume...Looks like it wants to clear the 38 price level soon and we are going to be there when it happens. Inside trading has been very active over the last month. They are buying now after pausing years. The Money flow index shows money coming in.

( click to enlarge )

Tellabs, Inc TLAB - Breaks above 50 sma. Momentum picking up with MACD climbing and Sto rising. Volume 2x above average.

( click to enlarge )

Priceline.com Inc PCLN - I think stock should pullback to $550 (resistance now becomes support) per share before making the next move. If support holds, then it'll advance again to a new high, but if support fails, then the next level of support is at $537. Any fall below $520 will ring my alarm bells and a break below $505 would signal a definite reversal.

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.

Market News and Data brought to you by Benzinga APIs