Shares of DryShips Inc. (NASDAQ:DRYS) rose 8% to $4.05 cents per share. The technical chart below shows the stock could still go higher as %K line is rising on top of %D line indicating buy signal. In addition, ROC is still at oversold level and could attract bargain hunters. However, the stock is still in bear market as MACD and signal line are still below 0. Based on current trend, the stock may go till $4.54 per share or the 50 day sma before facing the next resistence.

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The area comprehended between $43 and $44 represents a heavy resistance for Dendreon Corporation (NASDAQ:DNDN). At this stage, the stock is extended for additional positions, and is near the overbought zone. I really like the chart but at this level I would wait for a pull back before putting any cash to work. A close above $43.96 would have positive implications and could drive the stock much higher. Keep DNDN on your radar.

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FormFactor, Inc. (NASDAQ:FORM) corrected from its recent high, but received support from its 200 day EMA. The stock rallied with the market yesterday but the bounce stalled near its 50-day sma. Short-term technical indicators are improving and the MACD on the daily chart shows a possible bullish crossover. In addition, the slow stochastics has moved up strongly from the oversold zone. Right now, the stock looks like it could really get some momentum if it could get over its 50-day moving average at $9.98. If the stock can break above this level, it’s worth a trade. FORM will move very quickly, so keep a very close eye on the stock.

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TEKELEC (NASDAQ:TKLC) has appeared recently on my blog for a potential move higher. Looking at technical chart below, you can see for yourself that the recent gains have come on relatively strong volume. Other factors that are in favor of a move higher is the technical indicator On Balance Volume and the the Relative Strength Index. In addition, the stock is trading above both 20 day and 50 day moving average and MACD is above 0 showing positive momentum. Resistance for Wednesday’s move is $9.22, which reflects Tuesday’s high of the day.

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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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