Trade Ideas: CBOU, IDCC, MCHX, MMI

InterDigital, Inc. (NASDAQ:IDCC) has been forming a pennant pattern on the daily chart over the last few days, popped on good volume and retreated on lower volume, but as we saw yesterday the price broke the pennant consolidation to the upside on increasing volume… sweet….. a test of the July highs near $82 is a possibility in short-term. On balance volume indicator shows that the stock is being strongly accumulated. The volume on accumulation days consistently exceeded the volume on distribution days. From a technical standpoint, the daily chart looks Bullish with both 20, 50 and 200 daily moving averages going up and MACD on top of 0, RSI is also above its 50% level. The big movement in the past few weeks tells me to be patient. I’d stay long and keep a stop just below $63. Keep IDCC in your watchlist.

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Motorola Mobility Holdings Inc (NYSE:MMI) breaks above the key resistance zone at $22.73, signifying that a new short term uptrend is in place. Further rise is expected to $25.17 zone. Indicators are also showing signs of recovery. Near term support is now located at $21.86, as long as this level holds, I’d expect the uptrend to continue. Long-term investors may hold with a stop at $21.04. Let’s keep an eye on her as i think momentum will pick up.

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Marchex, Inc. (NASDAQ:MCHX) has made a new 52-week high of $10.87, after gaining 18% in yesterday’s trading. The 52-week range for MCHX is $3.80-$10.87. Looking at the technical chart the stock is trading above all of three major moving averages. Plus, the MACD is positive and rising. The short-term uptrend is intact and signals further bullishness on this stock. For those who did not have a chance to buy the stock, any pull back is your buying opportunity.

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Shares of Caribou Coffee Company, Inc. (NASDAQ:CBOU) closed the day gaining more than 18% to a new historic mark for stock at $16.24, near the highs of the day at $16.25. The stock has been on one of the most amazing runs of this month. I’ll be watching the stock today, looking for a follow through move. As long as the stock stay above $12.80, the bullish scenario still intact. Technical chart shows very strong bullish sign.

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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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