Trade Ideas: AMD, CECO, GRPN, IDCC, RIMM, RMBS

Groupon Inc (NASDAQ:GRPN) is on the verge of really blowing up. I would not be surprised to see the stock test $5 at some point over the next few days. The technical chart shows a possible reversal in trend coming. GRPN has been hit very hard but yesterday’s move could be the first of a short-term swing. The stock opened weak but closed strong above the 13 & 20 MA’s for the first time since mid-August on heavy volume. From the technical chart, KD line shows positive signals as %K line is rising on top over %D line and RSI is bouncing up from below the nominal 30 level. OBV is beginning to turn around which suggests the stock is no longer being sold off. I will be watching the stock today for a continuation move through yestersday’s highs of $4.67. I also thinks GRPN is a short squeeze candidate, with a short float at 22.3% (equivalent to 3.1 days of average volume).

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Career Education Corp. (NASDAQ:CECO) was a big winner yesterday, as the stock closed up $.34 or 9.7% on good volume. I feel that there will be a continuation move today but I want to see it break through $4 and keep on going up. There are several short term technical indications suggesting that CECO could make a move to higher levels. Keep a close eye on CECO today.

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Advanced Micro Devices, Inc. (NYSE:AMD) was on fire yesterday. The next resistance is located at $3.85. As long as the stock can remain above $3.43, I like the stock.

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InterDigital, Inc.(NASDAQ:IDCC) is still consolidating here and may still have a chance to move higher. The technical chart shows very strong upward momentum as the stock is above the major moving averages. All indicators still point to a bull market.

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Rambus Inc. (NASDAQ:RMBS) – The stock is slowly recovering. The $4.73-4.9 area is a critical resistance region that can determine overall bias for the stock in short-term. Bulls are now attacking the 50-day MA, a break above could trigger a rally towards 4.93 resistance and determine overall bias. Keep an eye on these levels.

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Research In Motion Limited (NASDAQ:RIMM) was able to get up through the key resistance level ( 50-day moving average ) and sustained the move. The stock hit a high of $7.55, which is resistance for today’s move. If the stock can break through resistance, we should see a strong follow through move. Watch the stock closely today.

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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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