Stocks in Play for Oct 8: ADBE, EK, MOT, NFLX

Adobe Systems (ADBE) surged 11.28% or 7 cents to 72 cents per share in heavy trading on a report that Microsoft CEO Steve Ballmer discussed a possible buyout of the company. A report posted in the The NY Times said Ballmer recently met with Adobe CEO Shantanu Narayen to talk about Apple’s control of the cell phone market and how Microsoft and Adobe could work together to fend off the iPhone maker. The stock seems to have added fresh long positions. Calls witnessed higher accumulation of open interest. This indicates that suggests that the stock could move up. Hold your long position with stop loss at $26.18 for an initial target of $33.10.

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Netflix, Inc. (NFLX) is ruling at a crucial level. While immediate resistance appears at $154.09, the stock finds support at $148.88. A close below this level could weaken the stock drastically to $140, which is very important support level for the stock.

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Motorola, Inc. (MOT) is still in consolidation and another fall cannot be ruled out. But after all, another rise remains in favor as long as $8.42 minor support holds. Above $8.68 will target a test on 9/9.30 resistance zone next. Keep a close eye on MOT for friday’s trading session.

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Eastman Kodak Company (EK) closed slightly higher on Thursday, as it hit a high of $4.20 on the day. Today’s high is resistance for a follow through move on Friday. Only a close above $4.34 would change the outlook to bullish for the stock. The short-term trend seems to be positive.

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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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