Trade Ideas: CHMT, GME, K, REGN, RIMM

By Nov 19, 2012, 10:26 AM Author's Blog  

Research In Motion Limited (NASDAQ:RIMM) produced a strong bullish breakout with Friday’s 4.66% gain. The stock broke out from a pennant pattern with a very large volume and closed above its recent highs. I’m suggesting long positions now or on a dip back toward the $8.83-9 zone. I have two targets. My first target is $9.57 and the second target is 10.23 ( its simple 200-dma ). I tweeted the breakout.

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Chemtura Corporation (NYSE:CHMT) broke out to new highs for the year and has a very good medium term daily chart showing signs of a turnaround. Support at $17.49.

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GameStop Corp.(NYSE:GME) Broke out from a consolidation pattern with strong volume Friday after a failed attempt last week. The huge volume increase suggests that a lot of buyers like this stock. Support at $22.70

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Kellogg Company (NYSE:K) is building a nice optimistic pattern under resistance at $54.79. Watch for a break through that price level to indicate that another push higher will occur. Support at $53

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Regeneron Pharmaceuticals Inc (NASDAQ:REGN) broke out of its 50-dma on heavy volume for the first time this month, a bullish sign with a bullish engulfing pattern after two-days pullback. The MACD has already generated a buy signal. Watch out for the following resistance at $166.39 which is the previous high.

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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.
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