Staples, Inc. (NASDAQ:SPLS) has finally closed above its 50-day SMA moving average currently placed around levels of $15.90. This stock has just started moving higher and established a short term up-trend. Momentum indicators are slightly bullish now with RSI inching away above the middle level. The strongest sign of a bullish momentum is the MACD indicator which has just started to increase. The On Balance Volume is also showing positive signs on the stock. Price is expected to at least rally the next resistance at $16.42 and even go higher to test the next resistance level at $17. The forecast is valid only if the price of SPLS stays above $15.08 and if this support level is breached, price of the stock may fall further to $14.72.
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Activision Blizzard, Inc. (NASDAQ:ATVI) traced out a nice setup and the upside breakout has a lot of power. Volume surged and this breakout looks like it is here to stay. There looks to be good upside in ATVI, so keep it on your radar the next few days.
Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is bullish with a lot of hot indicators showing up. The slope of the recent upward move is very steep accompanied by increasing volume. The stock closed at $1.66, up 9 cents (+5.73%) on volume of 3.19 Million. ARNA has a good looking stock chart price broke out from the horizontal resistance mark around $1.58. All indicators are in favor of an upward price movement. Key intermediate resistance for the stock however exists in the zone between $1.72 and $1.81. This momentum could push this stock much higher from here, so keep it on the radar.
A123 Systems, Inc. (NASDAQ:AONE) – Adding some shares on this pull back. Lower volume yesterday but looks fine and RSI has room for it to move on up.
Allied Irish Banks, plc. (NYSE:AIB) finally rebounded on heavy volume: Is it the start of a reversal of the downtrend that has been going on since mid April? I hope so…..Keep the stock on your trading screen for today.