Stocks in Play for Nov. 22: CROX, CSIQ, EK, MRVL, NTAP

Spectacular action from Marvell Technology Group Ltd. (MRVL) shares, after the earnings report was released. The technical chart gives a clearer picture. Big bullish candle on very good volumes indicating buying. The last two weeks fall has formed a bullish flag and today’s candle has given a breakout from this flag. This is very bullish and the stock is expected to resume the uptrend. A cross of $21 level is desired to get confirmation.

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Canadian Solar Inc. (CSIQ) was a big winner on Friday as the stock ended up $1.02 on the day. The stock traded higher after Macquarie USA analyst Kelly Dougherty upgraded the stock with Ourperform rating and raised the price target from $20 to $22. I will be watching the stock on today for a continuation move through Friday’s highs of $14.64. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above its 200-day moving average on heavy volume. Bulls could remain invested with a stop loss at $13.05. Keep CSIQ on your radar today.

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NetApp Inc. (NTAP) is still in decent shape holding over the 50sma.

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Take a look at the Eastman Kodak Company (EK) chart, it’s showing a symmetrical triangle pattern with support at $4.66. I am expecting a breakout at 4.81 with the first target of $5.11 Hopefully, the support holds and we might be able to see the breakout.

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Crocs, Inc. (CROX) broke resistance on Friday, but on low volume. I feel there is a bigger move coming, which is why I will be watching the stock again today.

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Other stocks to watch:

Hemispherx BioPharma, Inc (HEB) – The stock crossed its 50-day moving average of $.52 and closed at $.525 indicating a strong bullish signal.

OceanFreight Inc. (OCNF) was mentioned here earlier and it looks like it is starting to turn.

THQ Inc. (THQI) has resistance located at $4.84 but then nothing until $5.23. THIQ was one of the strongest small caps stocks on Thursday and I expect the momentum to continue.

I am still watching shares of A123 Systems, Inc. (AONE). If I see the stock break above $9.10, I will buy for a trade.

Shares of Cell Therapeutics, Inc. (CTIC) continued to fall on Friday. Right now, I’d be avoiding Cell Therapeutics until it breaks above $.41.

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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