Bullish Stocks to Watch: ELN, F, REE

Rare Element Res Ltd (AMEX:REE) looks strong enough to move forward. As expected, the stock broke up through the resistance at $13.85 on huge volume of over 1.202 Million shares. At this stage, further rally is still possible in next several days. The breakout signals a continuation of the prior advance. Bulls have the near-term technical advantage and gained fresh upside momentum today. Next resistance levels to watch are $15.95 and $17.92. The stock has the potential for a strong follow through, so watch it closely on Friday.

(click to enlarge)

It is clear that Ford Motor Company (NYSE:F) wants to move higher again, but too much caution right now. The stock reacted to the $16 mark over the last two trading sessions and has suffered a small correction as shown in the chart below. Back above $16 would revive the bullish case and open the way for further gains towards $16.55 in the first instance. Short term support for the stock is in the $15.23 to $15 region. While the stock price is correcting there are no clear signs of a top forming in the daily charts as of yet. Indicators are favoring longs with both positive momentum indicator and positive MACD above the zero line. A move above $16.51 would mark a medium-term breakout. Long-term investors can hold Ford with a stop at $14.40.

(click to enlarge)

Elan Corporation, plc (NYSE:ELN) continues to move higher and it still looks strong on its daily chart. I raised resistance to $8.26, which was the high of April 2010. Technically, the stock has broken all medium term resistances and appears strong. ELN is now on the overbought level, so this means a possible correction is near. This may give us a chance to jump in on the stock when it moves lower. ELN is a stock to keep an eye on for awhile.

(click to enlarge)

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.

Visit: AC Investor Blog

Be the first to comment

Leave a Reply

Your email address will not be published.