Trade Ideas for Tomorrow: BAC, IDCC, MBI

I have followed InterDigital, Inc. (NASDAQ:IDCC) for sometime and over the last trading sessions I never seen so many buyers purchasing the stock. The volume over the recent days has dramatically increased. There are some days when the normal average volume is reached in the first hours of trading, which mean someone is accumulating a huge amount of shares for the coming weeks. The On the balance indicator shows exactly this situation. The stock broke out today of a consolidation base on above average volume, closing at $53.51 for a gain of 5.31%. The technical indicators are looking better now for the stock. Looking at technical chart below we can see MACD crossover and rising OBV which could be very positive for next progress. RSI continues strong. In addition, the price is currently above the 20 day simple moving average, 50 day exponential moving average and 200 day exponential moving average respectively. Overall IDCC is bullish. This momentum could push this stock much higher from here, so keep it on the radar.

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Bank of America Corporation (NYSE:BAC) continued its bullish momentum on Monday. The stock closed above the key resistance zone at $14.48, signifying that a new short term uptrend is in place. Further rise is expected to $15.25 zone in next several days. Indicators are also showing signs of recovery. Near term support is now located at $14, as long as this level holds, I’d expect the uptrend to continue. Long-term investors may hold with a stop at $13.91.

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MBIA Inc. (NYSE:MBI) – The near-term trend is bearish and the stock faces resistance at $11.18-11.25. A close above this range is a pre-requisite for the reversal of the bearish trend. Technically, the daily chart shows possible new rally as %K line has crossed on top over %D line while ROC is still at oversold level. A close above $11.18 would have positive implications and could push the stock to the 13-13.22 range.

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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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