Costa: 7 Stocks Market Technicians Should Keep An Eye On
Lifelock Inc (NYSE: LOCK) appears to have broken out of a base formation, spiking above the resistance line. The stock closed Friday up 36c to 8.06 and is setting up for a possible move to the 10 area. A clear break above 8.65 could lead to short covering and potentially a short squeeze. Momentum indicators are bouncing off oversold conditions and CMF is very positive (strong and getting stronger).
3D Systems Corporation (NYSE: DDD) showed relative strength on high volume Friday compared to rest of market, which is a very good sign. If momentum continues as I expect next week, we could have formed a double bottom formation here. The indicators are showing signs of upward reversal. A rally above the 9EMA can push the stock higher to 14.30 and 15.15 in the medium term. Next supports are at 11.82 and 11.66.
Juno Therapeutics (NASDAQ: JUNO): I feel this is a potential bounce candidate if market bounces next week. Note the positive divergences on the MACD Histogram and the CMF.
Ampio Pharmaceuticals Inc (NYSE: AMPE) Nice Bullish candle Friday on above average volume. It has a gap and 100EMA declining resistance above. At this point and given the current stock levels, it is very important for it to break 3.19 level very soon.
Net 1 UEPS Technologies Inc (NASDAQ: UEPS) broke out on Friday but was unable to sustain those prices (due to the market conditions) and has moved back within the channel. As long as the price trades above the 20EMA support, its ongoing intermediate uptrend will stay intact.
Apple Inc. (NASDAQ: AAPL) has a strong support between 104.93 and 103.32 which can not easily be broken IMO however the bias remains bearish in nearest term. Immediate resistance is seen around 107.5. A clear break above that area on a close basis could lead price to neutral zone in nearest term testing 112. The stock is very oversold.
OHR Pharmaceutical Inc (NASDAQ: OHRP): With Soros on the list and with so many catalysts going forward, it's worth watching this one. It's also worth reading, "Analysts Bullish on OHR Pharma Amid Positive Study." The strong accumulation in late July has shown funds moving into the company.
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