Trade Ideas for Tomorrow: SBUX, AAPL, DROOY, HEB

Starbucks Corporation (NASDAQ:SBUX) broke resistance today, hitting a new 52-week high. Today’s high of $34.79 is resistance for the continuation move. The technical daily chart below shows the momentum indicators have turned up and the RSI is on the rise. For the short term the stock should still continue to go up. A close above $34.79 would have positive implications and could drive the stock much higher. Keep SBUX on your radar……

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Last week’s view on DRDGOLD Ltd. (NASDAQ:DROOY) stock remains unchanged. The outlook appears bullish and would remain so, as long as the share price holds above $4.75. The immediate resistance is seen at $5.11 and then at $5.15. If these two are broken then the next resistance is seen at $5.42.

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Apple Inc. (NASDAQ:AAPL) is sitting on the 13-day moving average. However the internal indicators MACD and Stochastic are showing positive divergences and in the world of technical analysis, that is good. Investors may hold with a stop-loss at $350. The near-term outlook would depend on the price movement in the next few days. A close above $361.72 would impart bullishness and would help the stock move to the $364-$365 band. A drop below $343.22 would have negative implications that would push the stock down to the $320-$333 range.

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Hemispherx BioPharma, Inc (AMEX:HEB) ruled firm as anticipated last week. The stock closed the day near highs which leads me to believe the rally will continue on Tuesday. The near-term trend is positive and a move past the immediate resistance at $.49 would impart bullish momentum. The strength of the bounce off $.45 indicates that the stock may have found some short term support from which is can launch a new rally. The daily MACD’s bullish crossover suggests further gains for the stock. In addition, RSI is increasing and has cut above the 50 level. The short term stochastic signal is also showing some positive sign. Let’s see whether the stock can gather enough momentum to break through $.49 ( 50-dma ).

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Other stocks to watch :

CIEN – Ciena results miss expectations. The stock has a strong support at $24.93.
EAT – BRINKER INTL INC continues to trend higher.
CTIC – Cell Therapeutics, Inc. – Downtrend.
LVLT – Level 3 Communications Inc. – Watching for a close above $1.47.

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.

Visit: AC Investor Blog

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