Trade Ideas: DRYS, NM, PCRX, MCP

Let’s start with DryShips Inc. (NASDAQ:DRYS) that had a very interesting move Friday on decent volume. The stock closed up 5.65% above major resistances at 1.81 and 1.85 on over 4.9 million shares traded. Five weeks ago, shares traded as high as 2.35 a share, which leaves plenty of upside at current price levels and investors started to take notice of that Friday. Look for a break of Friday’s high at 1.89 to confirm another leg up in the stock. DRYS formed a Bullish Macd Crossover signal. The dry shipping stocks have been beaten down and could be ready to rebound. Keep it on close watch.

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Navios Maritime Holdings Inc. (NYSE:NM) Another dry shipper whose pattern is looking quite good here for higher prices. The buy/add point would be when it breaks over 5.70 on heavy volume.

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Pacira Pharmaceuticals Inc (NASDAQ:PCRX) has a large bull flag and it looks like it is getting ready to move. Next buy point when it clears 31 on volume.

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Molycorp Inc (NYSE:MCP) closed up just over 10% Friday on heavy volume after the U.S. Securities and Exchange Commission has completed an investigation against the company and has not recommended any enforcement action. Look for momentum to continue today. Technically the stock now shows positive sign as the stock is now trading above all major short-term exponential moving averages with CMF rising.

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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.
About Antonio Costa 324 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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