Stocks in Play (AONE, GNBT, NOVL)

A123 Systems, Inc. (AONE) had a significant bullish momentum last week but the price is now struggling around the trend line resistance indicates critical technical point. Consistent move above $9.65 ( the trend line resistance ) could be a beginning of a new technical bullish reversal at least testing 11.38/11.50 area. Immediate support is at 8.92 followed by 8.68. Honestly, I prefer a bullish scenario.

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Novell, Inc. (NOVL) had a significant bullish momentum last week after break above 5.84 and now struggling around 6.20. Looking at the technical chart below the bias is bullish in nearest term especially if price is able to stay consistently above 5.94 targeting 6.36. Unless we have another movement back below this level, I think NOVL still in a bullish correction phase.

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Shares of Generex Biotechnology Corporation (GNBT) soared 14.33% to 46 cents per share on heavy volume. The technical chart shows the stock is ready for new rally as %K line is now on top of %D line. In addition, momentum indicators are also signalling good trend with rising OBV and bullish MACD crossover happened on Friday. GNBT is displaying upside momentum and is poised to move higher from these levels. Nearest resistance for the stock is at $.491. If this level is crossed and the stock is able to sustain above this level, then it might go to $.60. The stock is currently in a new uptrend.

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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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