Stocks in Play for May 24, 2010

I have been watching Motorola (MOT) over the past few days, waiting for a possible upside move. The stock seems to have found a strong support at present levels, which is also support from late February and early March. The technical indicators are improving significantly. The slow stochastic has moved above the 50% level and the RSI is near the 50% level. I’m a buyer of MOT once it breaks $7.12 for a possible breakout move. MOT could have good upside potential, so watch the stock closely next week.

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Level 3 Communications (LVLT) – Looking closely at the technical chart what we see there is a short-term downtrend, but things are starting to get better again. On today’s session, we have seen huge volume at the bottom, which was probably buying activity. The technical indicator MACD is starting to look like it may cross soon, which indicates momentum is shifting towards the upside as well. Keep this on your watchlist.

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Rambus (RMBS) is still trading in a range with resistance at 25.42 and support near 22. The stock closed today near the middle at $24.20. Looking at the technical chart all indicators are still favorable but have weakened a bit since last week. As long as the stock stays above $23.09, the trend appears bullish. Only a close below $22 would warrant a change in sentiment. A fall below its key support level could drag down it to $20.62.

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Biotechnology stocks to watch:

GNBT – Generex Biotechnology Corporation – The stock has been in an upwards trend the past few days and looks ready to continue this move.

HEB – Hemispherx BioPharma – I like this stock as a long-term play

Earnings Announcements for Monday

Adaptec, Inc. – ADPT GLADSTONE INVT CORP – GAIN
Angeion Corp – ANGN Guess – GES
ATA Inc. – ATAI IMAGE METRICS INC – IMGX.OB
Campbell Soup – CPB Internet Gold – IGLD
CARACO PHARMACEUTICAL LABS LTD – CPD Kingstone Companies, Inc. – KINS
Carver Bancorp – CARV Longtop Financial Technologies Limited – LFT
CHINA FINANCE ONLINE CO – JRJC Mesa Laboratories – MLAB
China Mass Media Corp – CMM NEVADA GEOTHERMAL POWER INC – NGLPF.OB
CHINAEDU CORP – CEDU Phillips-Van Heusen – PVH
CITIGROUP FDG INC – EIR Quanex – NX
Compania Cervecerias Unidas S.A. – CCU RADIENT PHARMACEUTICALS CORP – RPC
CYCLE CTRY ACCESSORIES CORP – ATC Shiloh Industries – SHLO
Dara Biosciences – DARAD Tigrent Inc. – TIGE.OB
Donaldson – DCI Top Image – TISA
ENCISION INC – ECIA.OB Versant – VSNT
FLOTEK INDS INC DEL – FTK Yingli Green Energy Holding Company Limited – YGE
FreeSeas Inc. – FREE

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US Macro economic news for week ahead

May 24 – 10:00 AM – Existing Home Sales
May 25 – 9:00 AM – Case-Shiller 20-city Index
May 25 – 10:00 AM – Consumer Confidence
May 26 – 8:30 AM – Durable Orders
May 26 – 10:00 AM – New Home Sales
May 26 – 10:30 AM – Crude Inventories
May 27 – 8:30 AM – Continuing Claims
May 27 – 8:30 AM – GDP
May 27 – 8:30 AM – Initial Claims
May 27 – 8:30 AM – GDP Deflator
May 27 – 8:30 AM – Initial Claims
May 27 – 8:30 AM – Continuing Claims
May 28 – 8:30 AM – Personal Income
May 28 – 8:30 AM – Personal Spending
May 28 – 8:30 AM – PCE Prices – Core
May 28 – 9:45 AM – Chicago PMI
May 28 – 9:55 AM – U. Michigan Consumer Sentiment

Stocks that have a Bullish Engulfing pattern at the end of their daily chart

JPM – JP Morgan and Co Inc LMT – LOCKHEED MARTIN CORP
LVS – LAS VEGAS SANDS CP JBL – JABIL CIRCUIT INC
VALE – Vale S A ADR JNK – SPDR Lehman High Yi
MGM – MGM MIRAGE CAM – Cameron Intl
AMD – ADVANCED MICRO DVCS PX – PRAXAIR INC
HBAN – Huntington Bancshar TLB – TALBOTS INC
YHOO – Yahoo! Inc MOS – Mosaic Co
MS – Morgan Stanley Dean SOA – Solutia Inc
FCX – FREEPORT MCMORAN ESV – Ensco Plc Adr
EBAY – eBay Inc. NFLX – Netflix, Inc.
VWO – VANGUARD EMERGING M PDE – PRIDE INTL INC
ITUB – Itau Unibnco Adr CAR – Avis Budget Group Inc
QCOM – QUALCOMM Incorporated AN – AUTONATION INC
USB – US Bancorp EQR – EQUITY RESIDNTL PRO
CX – CEMEX S.A. AKAM – Akamai Technologies
BIDU – Baidu Inc UN – UNILEVER N V
FITB – Fifth Third Bancorp ARG – AIRGAS INC
KEY – KEYCORP MCHP – Microchip Technolog
WFT – Weatherford International BBBY – Bed Bath & Beyond Inc.
STX – Seagate Tech ANF – ABERCROMBIE & FITCH CO
JASO – JA Solar Holdings C TWC – Time Warner Cable Inc
SU – SUNCOR ENERGY INC SWC – Stillwater Mining Co
AES – A E S CORP JWN – NORDSTROM INC
AMR – A M R CORP MDR – MCDERMOTT INTL INC
EWT – WEBS Taiwan TROW – T. Rowe Price Assoc
THC – TENET HEALTHCARE CORP SNY – SANOFI-AVENTIS ADS
CAT – Caterpillar Inc FDX – FedEx Corporation
M – FEDERATED DEPARTMEN GGP – General Growth Prop
BRCM – Broadcom Corporation ANH – Anworth Mortgage As
TSM – TAIWAN SEMICONDUCTO RCL – ROYAL CARIBBEAN CRU
JDSU – JDS Uniphase Corporation FLR – FLUOR CORP
MI – MARSHALL & ILSLEY CORP WYNN – Wynn Resorts LTD
SID – Companhia Siderurgi ARM – ARVINMERITOR INC
ACAS – American Cap Ltd PWE – PENN WEST ENERGY TRU
GGB – GERDAU USA SPG – SIMON PROPERTY GROU
EWA – WEBS Australia GMCR – Green Mountain Coff
ALTR – Altera Corporation URBN – Urban Outfitters, Inc.
MET – METLIFE INC HBC – HSBC Holdings PLC
GNW – GENWORTH FINCL INC VTR – Ventas Inc
EWH – WEBS Hong Kong PXD – PIONEER NATURAL RES CO
LCC – US AIRWAYS GROUP INC EPI – WisdomTree India Ea
TGT – TARGET CORP NKE – NIKE INC CL B
CLF – Cliffs Natural Reso JOYG – Joy Global Inc
UAUA – UAL CORP AMKR – Amkor Technology, Inc.
MTG – M G I C INVT CORP WIS PVX – PROVIDENT ENERGY TR
STI – SUNTRUST BANKS INC NSC – NORFOLK SOUTHERN CORP
DAL – Delta Airlines ATI – Allegheny Technolog
PLD – PROLOGIS TRUST DHR – DANAHER CORP
CIEN – CIENA Corporation NYX – NYSE EURONEXT INC
CNX – CONSOL Energy Inc IVN – IVANHOE MINES LTD ORD
DFS – Discover Financial RHT – Red Hat, Inc.
KBE – SPDR KBW BNK CBI – CHICAGO BRIDGE & IR
ZION – Zions Bancorporation FWLT – Foster Wheelr Ag
CCE – COCA COLA ENTERPRIS NYT – New York Times Co
NOV – NATIONAL OILWELL INC NCR – N C R CORP
AMT – AMERICAN TOWER CORP NITE – Knight Capital Inc
BEXP – Brigham Exploration Co AUO – AU OPTRONICS CORP
AMZN – Amazon.com, Inc. FBR – Votorantim Adr
ONNN – ON Semiconductor Co PCL – PLUM CREEK TIMBER CO
MEE – Massey Energy Co VEU – Vanguard FTSE All W
RSX – Market Vectors Russ LYV – Live Nation Entn
BTU – PEABODY ENERGY CORP VMW – VMWARE INC CLASS A
NSM – NATIONAL SEMICONDU CIT – CIT GROUP INC
JCI – JOHNSON CONTROLS INC MIL – MILLIPORE CORP
PCX – Patriot Coal Corp AMB – AMB Property Corp
EDC – Emerging Markets Bu BC – BRUNSWICK CORP
ME – Mariner Energy Inc CSC – COMPUTER SCIENCES CORP
DNDN – Dendreon Corporation CTXS – Citrix Systems, Inc.
PIR – Pier 1 Imports Inc CHU – CHINA UNICOM LTD
CRUS – Cirrus Logic, Inc. EPD – ENTERPRISE PRODUCTS
AFL – AFLAC INC SCI – SERVICE CORPORATION
CAG – CONAGRA INC PCLN – priceline.com Incorporation
LINTA – LIBERTY MED INT A CE – CELANESE CORPORATION
CTSH – Cognizant Technolog EWU – WEBS United Kingdom
UNM – UNUM GROUP AVT – AVNET INC
DE – DEERE & CO HAR – HARMAN INTL INDS INC
VMED – Virgin Media Inc CNQ – Canadian Natural Re
RDC – ROWAN COS INC KWK – Quicksilver Resources
BCS – BARCLAYS P L C CS – CREDIT SUISSE GROUP
CAL – CONTINENTAL AIRLINE TEL – Tyco Electronics Ltd
PAYX – Paychex, Inc. VSH – VISHAY INTERTECH INC
UBS – UBS AG FTI – FMC Technologies Inc.
LPX – LOUISIANA PACIFIC CORP AGU – AGRIUM INC
SWN – SOUTHWESTERN ENERGY CO INCY – Incyte Genomics Inc.
STLD – Steel Dynamics, Inc. WY – WEYERHAEUSER CO
JBLU – JetBlue Airways Cor CNI – CANADIAN NATL RAIL CO
TLM – TALISMAN ENERGY INC IBN – Icici Bank Ltd
MAR – MARRIOTT INTL INC NEW NHP – NATIONWIDE HLTH PRO
BUCY – Bucyrus Intl ADCT – ADC Telecommunications
COH – Coach Inc HCN – Health Care REIT Inc
TQNT – TriQuint Semiconduc DSX – DIANA SHIPPING INC
SWKS – SKYWORKS SOLUTNS WHR – WHIRLPOOL CORP
MAS – Masco Corporation LRCX – Lam Research Corporation
LLTC – Linear Technology C WAT – WATERS CORP
PMCS – PMC – Sierra, Inc. AZN – ASTRAZENECA PLC
BBY – BEST BUY CO INC EPP – ISHARES MSCI PAC EX
CPB – CAMPBELL SOUP CO NTRS – Northern Trust Corp
CYBS – CyberSource Corporation TEN – Tenneco Inc
MTW – MANITOWOC CO INC BR – Broadridge Financial

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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 325 Articles

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

Visit: AC Investor Blog

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