Trade Ideas: BMTI, CECO, ROYL, STP, TSL

Shares of BioMimetic Therapeutics (NASDAQ:BMTI) surged more than 4% on Tuesday after Collins Stewart initiates coverage on the stock with a buy recommendation for a price target of $7. From a technical perspective, the stock has been falling since the highs of October and seems to be forming a bullish wedge pattern, which means that there could be a rebound taking place soon. Its slow stochastic has also issued a buy signal, possibly suggesting that the bulls could embark on a stronger rebound. The key support is at $2.70 and as long as prices stay above this support, the odds would slightly favour the bulls. If prices take out the $3.10 resistance, then it could rebound strongly towards $3.24-3.30 with a strong chance of testing its October highs at $3.75.

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Sounds like Trina Solar Limited (NYSE:TSL) is gaining some momentum again. The stock had a pretty good rebound on price accompanied with volume. The technical daily chart shows possible new rally as %K line is back above %D line, while the RSI is also gaining strength. The stock needs to break out above $7.44 to go higher.

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Suntech Power Holdings Co., Ltd. (NYSE:STP) needs to take out its 20-day moving average at $2.64 to signal another leg up. I would buy on weakness.

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Career Education Corp. (NASDAQ:CECO) – On yesterday’s session, we have seen huge volume at the bottom, which was probably buying activity. The technical indicator MACD is starting to look like it may cross soon, which indicates momentum is shifting towards the upside as well. Keep this on your watchlist.

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I have been watching Royale Energy, Inc. (NASDAQ:ROYL) over the past few days, waiting for a possible upside move. The stock seems to have found a strong support at present levels. The technical indicators are improving significantly. The slow stochastic has moved above the 25% level and the RSI is near the 50% level. I’m a buyer of ROYL once it breaks $3.64 for a possible breakout move. ROYL could have good upside potential, so watch the stock closely.

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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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