Market Overview

Stocks To Watch For October 24, 2012


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Facebook Inc (NASDAQ: FB) shares gained ground in after hours after reporting better than expected results. This could be a positive factor for the market tomorrow. I expect it to gap open on Wednesday. I'm using the October highs as the first resistance to watch. From a technical standpoint in the short term chart, slow STO is turning up while the MACD is going flat after a long fall giving indecision signal. The RSI is going up from below 30, indicating uptrend incentive. We can see a bounce beginning. Expect to see confirmation in the next day or so.

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InterDigital, Inc. (NASDAQ: IDCC) released its annual earnings report tomorrow after the bell. 13% of the stock is in the hands of short sellers. The total share volume that is short is 5.69 million shares per Yahoo Finance. That's over 17x today's volume. Here's the earnings preview from MPartners :  Report (10/23/2012) - "Q3'12 Earnings Preview"  From a technical standpoint the stock continues to hold its 50-day moving average despite the market turmoil. CMF making new highs and slow stochastic about to cross over on the daily. Earnings will determine our next move, however for me is a long term value, no matter how the earnings come out tomorrow. It's one of best stocks to play the boom in the 4G space, because it owns roughly 19% of the essential patents for LTE standard. That's my opinion.
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Riverbed Technology, Inc. (NASDAQ: RVBD) looks great on daily charts. The good news, however is that stock is getting closer to a major break-out so keep an eye on her and wait for a close over 24 to enter long. 
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I continue to watch $8 for Newcastle Investment Corp. (NYSE: NCT), if it can break up through there, its worth it for me to buy for a trade. This is a price to keep an eye on in the future. Daily chart looks good.
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Vringo, Inc.(NYSEAMEX:VRNG) There is a lot of volatility on the daily chart but the stock regained its major moving averages in today's session. The stock needs to hold above $3.67 and build a better base. Breaching below this key level will herald a slide towards $3.
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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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