Stocks in Play for September 24 (ATML, ELN, ESRX, SOMX)

Elan Corporation, plc (ELN) is setting up for a very interesting upside move. The stock hit a high of $5.26 last Tuesday, but was not able to close near this level. The past two days we have seen the stock work its way back towards Tuesday’s high. I expect to see a high volume move once the stock breaks through resistance, as traders are watching this stock closely. Keep the stock on your screen because once ELN breaks through resistance, the stock should take off and move quickly. From a technical standpoint, this stock is currently in an uptrend and is finding support from its 50 DMA at 4.82 . If it stays above 4.82 and moves up, then it might even go to 5.49. If the stock falls below this level, then it might see further weakness. In addition, the Chaikin Money Flow Index is showing a rising move, indicating a rising money flow into the stock. Keep ELN on your radar for Friday’s trading session.

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Somaxon Pharmaceuticals, Inc. (SOMX) – $3.84 ( 50 DMA ) is a key to watch for this stock. If it declines below this level, then it has support at 3.69 and 3.35. On the upside, the stock has a number of resistances at 4.28, 4.31 ( 200 DMA ) and 4.49.

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Atmel Corporation (ATML) had a strong move today, as the stock set new 52-week highs. The stock hit a high of $7.52, which is resistance for the follow through move. The technical chart shows the stock is in a bull market rally as MACD is on top of signal line and moving upwards. In addition, the medium term trend is also bullish as the stock is above 50-day and 200-day moving averages with both moving averages going up. You should watch this stock closely on Friday.

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Express Scripts, Inc. (ESRX) traded higher today, as the stock received an upgrade in pre-market. The stock closed up $.87 on heavy volume. I’m a buyer of ESRX once it breaks through today’s high of $49.68 for the continuation move. You need to keep the stock on your screen tomorrow, because the stock will take off very quickly.

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Other stocks to watch:

Cell Therapeutics, Inc. (CTIC) – The stock continues to hold $.38 but trade in a narrow range.I plan to buy the stock on a close over the 50 day moving average ( currently located at $.39 )

Apple Inc. (AAPL) – Another trading day, another 52 week high for AAPL. I like the stock as long as it can remain over $279.01.

Dry Ships (DRYS) – is still in bottoming mode it looks like. I plan to buy the stock when it closes back over the 50 day moving average located at $4.33.

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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