Stocks in Play for August 30 (AAPL, CIEN, GNBT, MOT)

From a technical standpoint this is still a good time to buy Apple (AAPL) in short-term as %K line has just crossed on top over %D line. Nevertheless the short term trend is still weak as the stock has been trading below 50 day and 20 day MA with 50 day MA now going downward showing bearish signal. Immediate resistance is at 242.61 (yesterday’s high). A break above that area could trigger further upside recovery testing 252.18. Watch AAPL today.

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The short-term outlook for Ciena (CIEN) is bullish. Fresh long should be made only when the stock closes above $13.07 ( 50-day moving average ) with an up candle. We need a consistent move above this level to continue the bullish scenario testing $14.03 ( 200 dma ).

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The stock had a significant bullish momentum on Friday and now back above $7.58. The bias is bullish in nearest term and the major bullish scenario remains intact. The technical chart below shows this is just the beginning of the rally for Motorola as %K line is just in the mid way after it crossed on top of %D line early this week. Resistance is now $7.75, which was Friday’s high of the day. Once Motorola (MOT) breaks through this resistance area, we should see an increase in volume as the stock moves higher. Keep a close eye on the stock for the follow through move today.

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I’ve been looking at Generex Biotechnology (GNBT) for a possible breakout candidate. And the chart below of the stock was one that I analyzed last week. From my point of view, there are solid and consistent buyers here. GNBT’s chart suggest that increased buy side activity could push share prices to much higher levels. The stock has pulled back to support on low volume, generally this represents a good buying opportunity. The short-term outlook for GNBT appears positive. The stock could touch an upside target of $.60 in the medium term. Existing holders could remain invested. The bias is bullish in nearest term. A close above $.491 (200-day moving average ) would impart bullishness and would help the stock move to the $.58-$.60 band. There is a lot of upside potential in GNBT, so keep watching for the breakout move.

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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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