Stocks in Play for August 18 (DNDN, GNBT, PEIX)

Dendreon (DNDN) – The stock continued its bullish momentum today, gaining more than 1% to $37.76 with 2 million shares traded. Looking at the technical chart below we can see price break above the trend line resistance indicating potential bullishness targeting $40 in nearest term. The immediate support is now at $37.21. Only a break below that area could trigger further bearish pressure, testing the minor trendline support at $35.96 area but as long as price move inside the bullish channel we are still in upside phase.

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Shares of Pacific Ethanol (PEIX) soared 38.46% to 72 cents per share following the company’s second-quarter earnings announcement Monday evening. The company posted $107.8 million or $1.43 per share in net income for the three months ended June 30, compared to a loss of -$28.2 million or -49 cents per share in the same period last year. The Sacramento-based firm recorded a $119.4 million non-cash gain tied to production subsidiaries’ emergence from bankruptcy, and net sales increased by 9.5% to $76.6 million. PEIX is now worth watching on Wednesday and a close above $.85 would be very bullish. The technical chart below shows bullish signal as %K line is now on top of %D line and MACD is on top of zero. There could be some profit taking as the stock seems to rise too quickly in a short time. However, now that PEIX’s shares are above the 50-day moving average, we should see the trend continue to be upward.

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The technical daily chart looks positive as 20-day moving average has just crossed on top of 50-day moving average. In addition, the stock broke falling wedge resistance and upside volume is outpacing downside volume. Watch $.40 for a breakout. Institutions have been loading up shares of Generex Biotechnology (GNBT) in the last quarter, buying total of 2 million shares.

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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.

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