Stocks in Play for Oct 19: C, GIGM, OCNF, SIGA

SIGA Technologies, Inc. (SIGA) has been one of the hottest stocks around, trading up from $8.00 to its current price of $14.38, all this month. Monday, the stock closed at $14.06, trading 3x normal daily volume. I am buying SIGA again once it breaks $14.38, but I recommend using the stops on this stock.

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Citigroup Inc. (C) released earnings and was one of the big winners on Monday. The stock traded as high as $4.20, before pulling back the last hour of the day. I am watching the stock on Tuesday, and will be buying once the stock breaks through Monday’s high of $4.20. Citigroup could be a good stock for medium-term investment, based on its historical performance and from the technical indicators. Let’s keep an eye on it.

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GigaMedia Limited (GIGM) was a bit weak today despite a positive stock market. It appears that the 50-day moving average located at $2.01 was successfully tested. The momentum clearly favors the bulls. As long as GIGM can remain over $2, I like the stock. If $2.10 is broken, look for $2.4-$2.5. Today’s pullback has been on lower volume just as it should be. Looking for a nice bounce from here with accumulation and relative strength.

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OceanFreight Inc. (OCNF) – Technical breakout on no news. I don’t see anything until the $1.32-$1.5 area. The stock is now back above the 50 day moving average which is very bullish. Let’s keep an eye on her as i think momentum will pick up.

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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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