Trade Ideas: FORM, SIRI, ULTA, XNPT, ZLCS

Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) – Nice solid Breakout. The technical chart shows very strong upward momentum as the stock is trading above the 50 day moving average with both 50 day and 200 day moving average going up. At this point I will buy only once it breaks through today’s high of $71.26 for the continuation move. Stochastics and the RSI are now overbought but remain bullish signaling.

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XenoPort, Inc. (NASDAQ:XNPT) – The setup overall looks good to me for a long position on Tuesday if it starts to grind higher. Let’s see if this can get strong follow trough to the upside. The daily OBV is positive which is a signal of accumulation and strength.

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FormFactor, Inc. (NASDAQ:FORM) is sitting at market cap of $370M. Is this company not worth more than $45M ? …… $325M in cash or a free cash flow per share of $6.38 and no debt……I think that the risk-reward here is pretty attractive and I see fairly limited downside to FORM. Technically, there is a falling wedge in formation in the stock, which is a reversal pattern, sooner or later the prices will start moving north which will definitely be a good sign for the bulls.

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Sirius XM Radio Inc. (NASDAQ:SIRI) – $1.67 support must hold in order to expect a resumption of the uptrend.

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Zalicus, Inc. (NASDAQ:ZLCS) initiated with a Buy at CanaccordTarget $3. I like it here with a stop at the lows. Key resistance is now located at $1.53, a break above this level will confirm the bullish trend and the following uptrend will take price up to 1.99 zone.

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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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