Baidu.com, Inc. (NASDAQ:BIDU) – Moving up within a well defined uptrend channel. Look for a break above the 143 level for a run towards 150 in the short term. For longer term trade the channel buy the lower end of the channel and sell into the higher. Stops below the lower white line of the channel for longs. Price target for mid term is 165. Technical indicators are supporting the bulls. RSI is moving up and above its 50% level. Stochastic are also in buy mode. MACD is positive and above the signal line. You need to put this stock on your watchlist this week and pay special attention to the price and the volume action.
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Sonic Automotive Inc (NYSE:SAH) – Broke out to new highs Friday on strong volume. Looks good for higher prices. Bullish MACD crossover.
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Melco Crown Entertainment Ltd (NASDAQ:MPEL) – Strong looking chart. The stock could move to the target zone at $14-$14.20. The positive outlook would be valid as long as the stock holds above the stop-loss level at $12.27. On daily chart, the technical indicators are supporting the bulls. MACD is positive and above the signal line. The RSI is also moving up and above its 50 level.
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Wynn Resorts, Limited (NASDAQ:WYNN) breaks above the key resistance zone at $126.35, signifying that a new short term uptrend is in place. Further rise is expected to $135 zone. Indicators are also showing signs of recovery. Near term support is now located at $120.26, as long as this level holds, I’d expect the uptrend to continue. Long-term investors may hold with a stop at $116.99. Let’s keep an eye on her.
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Camelot Information Systems Inc (NYSE:CIS) – Looking for a breakout above the 2.48 level ( 50 dma ). Short term price target after the break is 3. The stock starts showing ‘buy’ signals again, closing on Friday above its 20-day moving average, which is a very bullish sign. Although the stock didn’t perform well last year, we start to see now some signals of rebound. Additionally, the chart shows a MACD crossover, a bullish sign. Long-term investors may hold with a stop at $2.
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FormFactor, Inc.(NASDAQ:FORM) – Increase of volume brings the stock right up to the resistance level. Expect a break above the 5.50 level to go long with targets at 6 and 6.6.
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