Market Overview

7 Technical Setups to Watch Next Week

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3D Systems Corporation (NYSE: DDD) Since the peak hit later in January, the stock has plummeted drastically, with only one major correction in February. After this correction, the stock price has continued to drop in an unprecedented manner, without much of a rest. In the process, the stock price has broken down below support level after support level, closing today below the 200-day moving average. At this point, the stock is oversold but still dangerous to touch. In the event, of a significant correction to the upside, key resistance currently resides around the 30.28 region and then the 32 region.

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Research In Motion Ltd (NASDAQ: BBRY) Stock price remains well above its moving averages and above the downtrend line. There are no reasons for concern ! Bullish setup

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Glu Mobile Inc. (NASDAQ: GLUU) had a significant bullish momentum today, breaking above its recent high on good volume. The stock is again setting up for a potential swing trade. Next resistance is located at $3.66

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Keryx Biopharmaceuticals (NASDAQ: KERX) needs to take out $7.78. The break of the resistance with heavy volume should be the next buy point on KERX.

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Shares of Bank of America Corp (NYSE: BAC) today broke out of a bullish consolidation pattern. Look for follow-through on Monday with increasing volume to confirm today's move. The technical daily chart is showing a very bullish sign with 50-day moving average on top over 200-day moving average and still rising. In addition, with MACD on top of zero and with RSI moving upward should be keep going higher.

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Oracle Corporation (NASDAQ: ORCL) is ready to break out from a cup and handle formation on daily charts. If the stock can break Friday's high of $36.43, we should see a strong follow through move. ORCL will move very quickly, so keep a very close eye on the stock next week.

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AXT Inc (NASDAQ: AXTI) keeping my bullish bias despite the volatility. Technicals starting to improve. With 20-day MA on top over 50-day MA, MACD above 0 and KD at high level, the stock is currently in short-term uptrend.

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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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Posted-In: Technicals Trading Ideas


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