Trade Ideas: AONE, BANR, MELA, SOL

Accum/Dist chart on Banner Corporation (NASDAQ:BANR) is showing a clear accumulation trend since July. The stock broke and closed today above its 50-day moving average (14.20), and is poised to continue higher, towards the 15.5-16 area next.

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Shares of A123 Systems, Inc. (NASDAQ:AONE) soared 26% to $4.19 per share after General Motors said that the company would be supplying the power for the automaker’s first all-electric car. The technical chart shows possible new rally as %K line is back above %D line. In addition with stock back above 50-day moving average we should see more upside coming. Next resistance lies at $4.5.

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ReneSola Ltd. (NYSE:SOL) – Hold your Long position with a stop loss at $1.84 (closing day basis). Only a close below this level would change the short-term outlook to bearish for the stock. The immediate resistance appears at $2.34 and suport at $1.94. The short-term trend seems to be positive.

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MELA Sciences, Inc. (NASDAQ:MELA) has been under accumulation for a couple days now. The volume on accumulation days consistently exceeded the volume on distribution days. That’s a bullish sign. From a technical standpoint, the daily chart looks Bullish with both 13, 50 and 200 daily moving averages going up and MACD on top of 0, RSI in a Bullish area too. I’m setting resistance at $6.30, which was the high of Wednesday. If the stock breaks through, the next resistance lies at $7.45.

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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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