Stocks in Play for July 29 (GIGM, GNBT, LVS)

Las Vegas Sands (LVS) traded higher today, after the company released earnings. Las Vegas Sands Corp reported better-than-expected quarterly results, as revenue was aided by strong performance in Macau and Singapore. The casino operator run by billionaire Sheldon Adelson, had earnings of US$129.3 million, or 17 cents a share, for the second quarter after adjusting for items. That compared with US$8.8 million, or 1 cent a share, a year earlier. LVS was very active as it closed up $.84 on 2x normal daily volume. The stock is nearing its 52-week high of $27.84, which is resistance for my buy price. If the stock can break this resistance, we should see a strong upside move. Looking at the technical chart above, the technical indicator MACD is still above the “0” line and has positive momentum. The stochastics have slightly retreated from overbought conditions which could give this stock some breathing room for another run. In addition, selling volume has been light while accumulation days have been heavy. LVS will move quickly, so keep it on your screen on Thursday.

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Guys, I was the first to tell you on twitter to watch out Generex Biotechnology (GNBT) in the first seconds of trading after the initial spike of the shares in the open market without no news at that time. This is a great company with huge potential to grow. I’ve told you about GNBT numerous times, and the company released ground breaking news this morning. Generex Biotechnology Corporation announced that it has now achieved 75% of the required number of per-protocol completers in its ongoing six month pivotal global Phase III study of Generex Oral-lyn, the Company’s proprietary buccal insulin spray product. These early results suggest that, should the current trend be maintained through the early 2011 completion date of the treatment phase of all enrolled subjects, the use of Generex Oral-lyn will support a non-inferiority claim relative to the standard-of-care injectable insulin. This position will be reviewed following a formal interim analysis after the 90-day results for all subjects become available. The stock shot up 11.31% with not too much resistance on 7x normal daily volume.. I believe today’s move appears to be the first of a series of uptrending trading sessions that could yield nice gains going forward. Looking at the technically chart, the stock closed at $.374 which is 11% higher than Tuesday’s closing price of $.332. GNBT has a 52-week high of $1.01 and a 52-week low of $.31. The momentum indicators are attempting to turn up from oversold levels and the stock crossed its 50-day moving average. A new rally has just begun as %K line has just crossed on top over %D line. In addition, low ROC at oversold level should also attracts more buyers.

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The stock traded higher today, as the stock bounced off lows. GigaMedia (GIGM) hit a high of $2.28, which is resistance for Thursday’s continuation move. I’m a buyer of GIGM once it breaks through this high and expect to see heavy volume push the stock higher. Keep the stock on your radar for Thursday.

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Other stocks to watch:

BAC – Bank of America – Watching for a close above $14.24
CTIC – Cell Therapeutics, Inc. – Watching for a close above $.45
DRYS – DryShips, Inc. – Watching for a close above $4.78
BANR – Banner Corporation – Watching for a close above $2.50
AAPL – Apple – Watching for a close above $265.99
PLUG – Plug Power – Chart looks bullish. Keep an eye for a possible breakout over $.51
AMD – Advanced Micro Devices – Watching for a close above $8.10
NVDA – Nvidia – Chart looks bearish. Keep an eye for a possible breakdown below $9.90

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.

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1 Comment on Stocks in Play for July 29 (GIGM, GNBT, LVS)

  1. Today’s GNBT’s announcement of Craig Eagle, M.D. to its scientific advisory board is an important move.
    Dr. Eagle’s connection with Pfizer is GNBT’s first step toward partnership with Pfizer.
    This partnership will open a huge market to GNBT and give Pfizer access to products it does not have.
    GNBT is very close to get the FDA approval for its drug delivery system and is going to need Pfizer like company to help put it on the map. Grate move by GNBT.

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