Trade Ideas: FORM, FOSL, GLW, NRG

I think yesterday’s price action in FORM’s stock gave more good signals, which could be the start of a bigger move. FormFactor, Inc. (NASDAQ:FORM) reacted very well to the 50 days SMA support, volume has increased and the candlestick pattern is a reversal one. If the stock can break the highs of April, we should see a strong follow through move. This move would break the trading range and should drive the stock back towards highs. The technical chart below looks really positive as 50-day moving average has just crossed on top of 200-day moving average to form Golden Cross. In addition, with MACD on top of 0 showing bull market and KD showing buy signal with %K line now above %D line the stock should kept going for now.

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Corning Incorporated (NYSE:GLW) has been on a rise recently as %K line is on top of %D line indicating a buy signal. Now with MACD above the signal line and with stock above 20-day and 50-day moving average the stock may see more up side. If price breaks above the last price spike resistance of $22.05 I think going long will present a very possible profitable trade, and stock may run quickly to $23.4 area.

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Fossil, Inc. (NASDAQ:FOSL) traded higher yesterday, after the company released strong earnings. It gapped higher at the open and traded to the upside all day. FOSL hit a high of $107.27, which is resistance for the continuation move. Keep an eye on FOSL again on Wednesday.

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NRG Energy, Inc. (NYSE:NRG) hit a new 52-week high yesterday, trading as high as $25.14, before settling at a close of $24.95. I’ll be watching the stock on Wednesday, looking for a follow through move. Resistance reflects yesterday’s high of $25.14. Keep an eye on NRG because there is good upside in this stock.

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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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