Stocks in Play for August 20 (ABX, GG, GSS, VGZ)

Golden Star Resources (GSS) – The stock was volatile and indecisive during the trading session today, but closed slightly higher at 4.63. The bias is neutral in nearest term but as long as price move above the major moving averages, the pressure still more to the upside. I think I will stand aside for now as the direction of the stock is unclear. The immediate support is at $4.50. On the upside, 4.91 region remains potential bullish target especially if the price is able to break above 4.77 area (June highs).

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Vista Gold (VGZ) might face a period of sideways action here while it consolidates the gains booked in the last trading sessions. The stock will face short to medium term resistance at $2. Once this level is crossed with good volumes, the stock can go to $2.5.

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Barrick Gold (ABX) is still facing resistance around $46 area, however the technical chart still showing bullish bias wiht MACD indicating that the current short term price trend is very bullish. In addition, the technical indicator OBV is increasing, indicating accumulation of shares in the market. A break above $46 could trigger further upside momentum testing $47.25.

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Goldcorp (GG) – If the stock breaks through Thursday’s high of $42.68, I will enter for a trade.

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Other stocks to watch tomorrow

Shares of Cell Therapeutics, Inc. (CTIC) got a nice rebound on Monday and resistance level is $.415. Support level is $.358. I want to go long if stock break over $.415.

I continue to watch Generex Biotechnology Corporation (GNBT) because the volume is still large so it could potentially break out again at any moment.

Shares of Sirius XM Radio Inc. (SIRI) continues to trade in a tight range between $.96 – $1.02. I will be buying SIRI on any major pullback. A close above $1.10 would be bullish for the long term.

Shares of Somaxon Pharmaceuticals, Inc. (SOMX) failed to close over the 10 day moving average again located at $3.68. A close over this level would be bullish and I’d look for SOMX to test the 50-day moving average at $3.87. When the stock breaks above this level, I plan to buy the stock.

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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