I believe that Zalicus, Inc. (NASDAQ:ZLCS) is poised to continue moving upwards. Last week’s pullback has probably attracted a ton of traders looking for an opportunity to jump into a stock that took a dip. In addition, there are several short, mid and long term technical indications suggesting that ZLCS could make a move to higher levels. On Friday’s session the stock has successfully rebounded from the support line located at $2.19 and closed near the highs of the day which is very bullish. On the intermediate term, the last four months witnessed a partial re-gain of strength, while now a push above $2.73 will confirm the stock’s intermediate term strength activating an intermediate term target at $3.21, then $3.49. Next major resistance level is $2.46 ( 50-day SMA ). Support level is at $2.19 and $2.12 respectively.

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Toreador Resources Corporation (NASDAQ:TRGL) pulled back a bit last week, as the stock follow the market. I like the daily chart for this stock and expect to see another upside move soon. Keep an eye on TRGL and monitor its volume, RSI, and MFI for any potential breakouts. If the stock can manage a breakout above its psychological resistance line at $4 on high volume, it would be a great buying opportunity, but only on a breakout. The Money Flow Index indicator is showing that there is more money flowing into a security that out of the security. You want to watch the stock closely as TRGL can move quickly and you want to be ready for this move once it happens.

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Sino Clean Energy Inc. (NASDAQ:SCEI) is simply telling me that this is a nice healthy pullback after a big run. The trend should resume back up in the very near future. The technical daily chart is also showing declining volume but stock has a Bullish outlook.

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MELA Sciences, Inc. (NASDAQ:MELA) tried to move on Friday, but the weak market held it back. The stock failed to close over the 50 day moving average now located at $2.52. A close over this level would be bullish and I’d look for MELA to test the 2.75 area. Volume has been gradually building on the right side of the base. The MACD is registering a bullish signal. As I said on previous posts, the stock is a short squeeze candidate.

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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 324 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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