Trade Ideas: TSL, BMTI, THQI, SIMO, HEB

Trina Solar Limited (NYSE:TSL) made a new 52 week low yesterday and closed the session with 4.18% loss. The stock volume was below average at 2.96M compared to 3.63M, leading me to believe that the selling pressure is dissipating due to the extremely oversold conditions and the stock may be ready to make a huge price reversal. Only a few weekss ago TSL was more than double where it was yesterday. Looking at the technical chart below, we can see that most commonly followed technical indicators point to TSL being extremely oversold right now, which means that any positive news or event could cause a huge Breakout!!! The MACD histogram is showing positive divergence and the stochastics is on oversold territory, but showing signs of turning back. TSL is also a short squeeze candidate, with a short float at 23.1 % (equivalent to 5.3 days of average volume). Watch today for further strength on volume! Keep an eye on it the next few days.

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BioMimetic Therapeutics, Inc. (NASDAQ:BMTI) – On the daily time-frame, the daily MACD lines, MACD-histogram, 20d EMA and stochastics are all rising. In addition, the Chaikin Money Flow is positive showing money is flowing into the stock. Target is $4-4.20 with a stop at $3.20. Nice volume yesterday!

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I like the setup in THQ Inc. (NASDAQ:THQI) here, I think it has a good chance to run to the 200 day MA if we see some strength in the markets here. On the daily time-frame, the MACD-histogram has been sloping up and the 10-day SMA has just ticked up to give a buy signal on the Impulse System. The daily slow stochastics and RSI are both rising, indicating bullishness.

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Silicon Motion Technology Corp. (NASDAQ:SIMO) tried to breakout yesterday again after the breakout last week but failed to close near the highs. The technical indicators still bullish. The support level is located at $12.28 and the resistance is now at $14. Lets see how this trades today.

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Hemispherx BioPharma, Inc (AMEX:HEB) started the day negative but turned things around to close up nicely!

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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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