Trade Ideas: ABAT, AMZN, MELA, STX

Extremely bullish moves on the stock are taking place over the last session’s. Amazon.com, Inc. (NASDAQ:AMZN) broke resistance on Friday as the stock traded up $12.52 on heavy volume. The stock hit a new 52-week high of $240.44 which is now resistance for today’s continuation move. If the stock can break through resistance, we should see another strong upside move. AMZN will move very quickly, so watch the stock closely this week.

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Advanced Battery Technologies, Inc. (NASDAQ:ABAT) is forming a symmetrical triangle with support at 1.23. I am expecting a breakout at 1.36 with a target of 1.84. So far, most indicators are in favor of an upward price movement: MACD has generated a buy signal and is currently above the 0 line and RSI is above its 50% level. The stock has been going through a healthy consolidation, but the past few days have shown an increase in volume. Once again, the 50 day MA has proven to be a solid level of support and looking forward, the bulls will have blue skies with a strong break of the $1.36 level. Worth keeping an eye on for sure!

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Shares of the MELA Sciences, Inc. (NASDAQ:MELA) surged 15% to 3.43 per share. The technical chart shows new rally has begun as %K line has crossed on top of %D line while MACD signal is still on top of 0. At this point more buyers should come in.

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Seagate Technology PLC (NASDAQ:STX) is slowly recovering. The 12.25 – 12.3 area is a critical resistance region that can determine overall bias for the stock in short-term. Keep an eye on these levels!

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THQ Inc. (NASDAQ:THQI) dirt cheap at these levels. On the daily time frame,the chart shows mix signal as KD shows rally’s coming with %K line rising on top of %D line, while MACD show weakness with MACD and signal below “0”. Since ROC indicator is at oversold level we are expecting the stock to go up slowly with accumulation from bargain hunters while the weak hand may continue to sell. For bigger reward now might be the perfect time to take some risk and buy the stock.

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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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