Stocks in Play for August 9 (BANR, DRYS, RMBS)

Rambus Inc. (RMBS) – The stock had today a moderate bullish momentum but failed to cross above its 50-day moving average. Looking at the technical chart the bias remains neutral in nearest term however the chart is showing possible buying opportunity as %K line has just crossed on top over %D line again. Immediate resistance is now at $19.31. A Break above that area could trigger further upside testing the major resistance ( 200 MA). On the downside, another movement below $18 could trigger further downside attempt re-testing $18 area.

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DryShips Inc. (DRYS) continues to move higher as the stock closed up $.08. Looking at the technical chart there looks to be more upside. Resistance is now $5. If the stock breaks resistance, we could see a quick move up to the $5.52 level as traders like buying this stock. Keep the stock on your radar for the this week.

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A123 Systems, Inc. (AONE) pulled back a bit today, after consolidating the past few days.I still feel the stock is setting up for another breakout move, which should occur after the earnings report. Resistance is $11.48, which was yesterday’s high. Short term bias remains neutral to bullish but still within a strong technical bullish context ( ascending triangle ). We need a consistent move above 11.48 to continue the bullish scenario.

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Banner Corporation (BANR) tried to break down today but buyers came in to support and the stock closed near highs of the day. This is an excellent bullish sign, which is why I will be watching the stock on Monday. Resistance for this move is $2.43, which was the high from last Monday and the top of this short-term range. BANR will move very quickly, so keep it on your screen this week.

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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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