Stocks in Play for July 2 (CTIC, GNBT, MOT, ROYL, THQI)

Royale Energy (ROYL) – The short-term bullish correction should remains intact as long as the trendline support (green) hold. The trendline support area technically is a good place for a long position. I’ll watch the stock closely on Friday as there looks to be good upside potential in this trade.

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There is a possibility of a double bottom formation in THQ Inc. (THQI). The divergence in MACD is pretty impressive and I also see the stochastic indicator suggesting an extreme oversold condition.

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The stock attempted to push lower today, but found a good support at 6.50 as you can see on my daily chart above. The bias remains neutral in nearest term and I am still in wait and see mode but we could have upside rebound from here. Motorola (MOT) hit a high of $6.58 on the day, which is resistance for Friday’s upside move.

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Shares of Cell Therapeutics (CTIC) surged 13 percent to $.42 per share on today’s trading sesssion, after the company said that it has made a deposit to cover the costs of all of its convertible debt coming due in 2010. The company said it deposited $39.3 million in cash with U.S. Bank National Association to eliminate shareholder concerns about its ability to pay off the debt. Looking at the technical chart, CTIC has chance to back to rally as %K line is now back on top over %D line. However with MACD still trading below 0, the stock may encounter some resistence around 50 day moving average at $0.46. If CTIC can break this resistance level we should see a strong upside move. Overall, the bias remains neutral in nearest term. Expected range remains at 0.5-0.30. We need a break from this range to see clearer direction. There looks to be good upside potential in this trade, so watch the stock closely on Friday.

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The stock bounced on Thursday as the market rallied off lows. Generex Biotechnology (GNBT) closed positive on the day as it looks to be ready for a reversal move. I’m a buyer of GNBT once it breaks through today’s high of $0.34. This stock can pop big time on any positive news, so watch it closely on Friday.

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New 52-week High stocks

IDT – IDT Corporation
PTY – PIMCO Corporate Opportunity Fund

New 52-week Low stocks

PFE – Pfizer Inc. KGC – Kinross Gold
QCOM – QUALCOMM AMTD – TD Ameritrade Holding
MS – Morgan Stanley GT – The Goodyear Tire & Rubber
NVDA – NVIDIA Corporation STLD – Steel Dynamics, Inc.
ADBE – Adobe Systems BAX – Baxter International
RIMM – Research In Motion PBCT – People’s United Financial
SYMC – Symantec Corporation COCO – Corinthian Colleges
JCP – J.C. Penney Company MOS – The Mosaic Company
GS – Goldman Sachs GMR – General Maritime
BK – The Bank of New York Mellon KG – King Pharmaceuticals
AKS – AK Steel Holding JNS – Janus Capital Group
ONNN – ON Semiconductor FHN – First Horizon National
WFR – MEMC Electronic Materials IDTI – Integrated Device Technology
SPLS – Staples, Inc. SAI – SAIC
ERTS – Electronic Arts Inc. PMCS – PMC-Sierra
WU – The Western Union ETFC – E TRADE Financial
JNPR – Juniper Networks BCS – Barclays PLC
APOL – Apollo Group CVH – Coventry Health Care
STT – State Street Corporation NTRS – Northern Trust Corporation
HCBK – Hudson City Bancorp GMXR – GMX Resources
NUE – Nucor Corporation


Stocks with Unusual Volume

STR – Questar Corporation TSCDY – Tesco PLC
ADLS – Advanced Life Sciences Holdings NSEH – NuState Energy Holdings
STST – ARGON ST, Inc. PWV – PowerShares Dynamic
AMED – Amedisys IBI – Interline Brands
PTSEF – Points International NMXC – New Mexico Software
UBCI – Santeon Group CHCG – China 3C Group
NUEC – NUEARTH CORP GSL – Global Ship Lease
ONP – Orient Paper SPMI – Speedemissions
LLNW – Limelight Networks CYXI – China Yingxia International
CBZ – CBIZ Inc. IMSC – Implant Sciences
CAMH – Cambridge Heart, Inc.


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.

Visit: AC Investor Blog

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