Stocks in Play for Nov 2: LVS, MU, RMBS, ROYL

Royale Energy, Inc. (ROYL) traded nicely today and closed up 5.44% on volume above the daily average. The combination of increasing price on increasing volume is generally speaking a bullish tone. In my opinion, there are solid and consistent buyers here. The stock has broken every resistance point so far during the past trading sessions and I don’t expect that to change as I believe it could break $2.20 and move towards higher levels. Trends are emerging on the MACD, and the On Balance Volume is moving higher. In any case, outlook will remain bullish as long as $2.07 resistance turned support holds.

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Rambus Inc. (RMBS) – No change in RMBS’s outlook. The short-term outlook for the stock remains neutral as consolidations from $21.19 continues and some more sideway trading might be seen. But still, with $19.35 support intact, rebound from $17.76 is expected to continue. Above $21.19 will target $22.76 resistance and above. Looking at the chart the technical indicators are showing positive divergences. The MACD is negative but has risen to touch the signal line. The RSI and MFI are both improving and have made higher tops. Keep watching RMBS.

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Micron Technology, Inc. (MU) – The stock reversed direction at $8.30. This level is proving to be a strong resistance zone. A new trend would not be in place unless the stock closes above this level. Shareholders may remain invested with a stop-loss at $7.67.

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Las Vegas Sands Corp. (LVS) recorded a new high in the last trading session. Short-term outlook for the stock is bullish. Today’s high of $47.48 is resistance for Tuesday’s move. On a technical note, the stock is in a strong Bull Market with share price above 20, 50 and 200 daily moving averages. Watch LVS again on Tuesday.

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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 324 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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