Trade Ideas: DNDN, ELN, GNBT, KOG

What I like best about Kodiak Oil & Gas Corp. (NYSE:KOG) is the relative performance it has exhibited in the last few weeks with respect to the overall markets. A bullish volume pattern has been formed in the last few weeks. On Friday, the stock made a breakout of its recent high with high volumes. Technical indicators are supporting the bulls. EMA’s are moving up and RSI is also moving up and above its 50% level. Stochastic is also moving up and above its 50% level. Buy KOG around $9.23 with stop loss of $8.83 for the short term targets of $9.76 and $10. The stock looks bullish on charts. Keep a close eye on the stock for the follow through move on Tuesday.

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Elan Corporation, plc (NYSE:ELN) continues to hold $12.60 but trade in a narrow range. Shareholders are probably getting frustrated because the stock doesn’t move much higher from here, however the short term uptrend line still intact. As long as the stock trades above this support, investors can hold it with stop-loss at $12.55. ELN is a great company and I plan to buy the stock on a close over $13.14

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From my point of view, there are solid and consistent buyers here. GNBT’s chart suggest that increased buy side activity could push share prices to much higher levels. Generex Biotechnology Corporation (PINK:GNBT) could touch an upside target of $.22 in the medium term. Existing holders could remain invested. The bias is bullish in nearest term. A close above $.194 would impart bullishness and would help the stock move to the $.20-$.22 area. There is a lot of upside potential in GNBT, so keep watching for the breakout move.

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Dendreon Corporation (NASDAQ:DNDN) – From a technical standpoint, there are some signs of a possible bounce here due to the oversold indicators and some positive divergences, which often leads to short covering. Let’s see whether the stock can gather enough momentum to break through $7.96.

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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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