The stock hit a new 52-week high today, trading as high as $275, before settling at a close of $274.07. I’m watching the stock on Monday, looking for a follow through move. Resistance reflects Friday’s high of $275. Keep an eye on Apple (AAPL) because there is good upside in this stock.
Wells Fargo (WFC) had a small pullback again today, but it held up reasonably well. I still like the chart and will watch the stock again on Monday. Resistance stays at $28.28 for the follow through move. Once it breaks this resistance level, we could see a quick increase in buying as momentum traders jump into this trade.
Citigroup (C) has been trading in a very tight range the past few sessions and looks like it wants to break out. Resistance is $4.02 and I expect an increase in volume once the stock breaks through.
THQ Inc. (THQI) has a strong support at $4.92. A close below this level could drag it further down to $4.64. Hold the stock with a stop-loss.
Motorola (MOT) finally broke out and made a nice move today. I’m watching the stock for a continuation move next week. MOT is back to bull market rally with MACD on top of 0 and %K line on top of %D line. The stock has good upside potential, so keep watching the stock for further moves.
Other stocks to watch:
I was looking up the charts of some penny stocks and noticed unusual activity today in the stock price of Mount Knowledge HoldingsInc (OTC:MKHD). This stock rose over 15%, and more gains are likely on Monday. The company announced this morning that, on April 26, 2010, it executed a non-binding Letter of Intent to acquire one hundred (100%) ownership of Mount Knowledge USA, Inc. (“MTKUSA”) in a Stock Purchase and Share Exchange Agreement. MTKUSA is a U.S. based sales and marketing company formed in September 2009 for the purposes of distributing Mount Knowledge (TM) products domestically and internationally to a variety of customers, including individuals, schools, government agencies, and corporations, primarily in China.To date, MTKUSA has completed approximately $1,100,000 in new financing to support the current sales and marketing efforts in China. I believe it’s not too late to pick up some shares, however be careful with this trade and use the stops. From a technical standpoint the biggest resistance is at $0.47.
Stocks that have a Bullish Engulfing pattern at the end of their daily chart
| WFT – Weatherford International | PDCO – Patterson Co |
| JNPR – Juniper Networks | SOLF – Solarfun Power Holdings |
| NE – NOBLE DRILLING CORP | ALV – AUTOLIV INC |
| DNR – DENBURY RESOURCES INC | JRCC – JAMES RIVER COAL CO |
| STLD – Steel Dynamics, Inc. | WRB – WR Berkley Corp |
| PQ – Petroquest Energy Inc | HLF – HERBALIFE LTD |
| NBR – Nabors Industries Inc | TD – TORONTO DOMINION BANK |
| BRCD – Brocade Communications | ENR – ENERGIZER HOLDINGS INC |
| VIP – Vimpelcom Ltd | SCSS – Select Comfort Corp |
| DO – DIAMOND OFFSHR DRLL | DSX – DIANA SHIPPING INC |
| NYX – NYSE EURONEXT INC | FUL – HB Fuller Co |
| BZ – Boise, Inc. | TAN – Claymore MAC Global |
| LDK – LDK Solar Co Ltd | FMX – FOMENTO ECONOMICO M |
| HSP – HOSPIRA INC | MICC – Millicom International |
| EL – ESTEE LAUDER COMPANIES | NSR – NEUSTAR INC |
| ETN – EATON CORP |
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New 52-week High stocks
| AAPL – Apple Inc | PQ – Petroquest Energy Inc |
| NEM – NEWMONT MINING CORP | NGD – DRC RESOURCES CP |
| NTAP – NetApp Inc | PEG – Public Service Elec |
| CRUS – Cirrus Logic, Inc. | OVTI – OmniVision Technologies |
| SBUX – Starbucks Corporation | RSG – REPUBLIC SERVICES INC |
| SWKS – SKYWORKS SOLUTNS | FRG – Fronter Gold Inc |
| AMT – AMERICAN TOWER CORP | ARUN – Aruba Networks Inc |
| ENTR – Entropic Communications | DISCA – Discovery Holdings |
| VRSN – VeriSign, Inc. | CROX – CROCS INC |
| SUN – SUNOCO INC | HAS – HASBRO INC |
| AKAM – Akamai Technologies | SKX – SKECHERS USA INC |
| CTSH – Cognizant Technolog | MJN – Mead Johnson Nutrition |
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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.
