Trade Ideas: RIMM, GDOT, LSCC, NOK, ZNGA

By Nov 23, 2012, 10:01 AM Author's Blog  

Green Dot Corporation (NYSE:GDOT) is a fast-moving and volatile play. On Wednesday we saw the stock jump from the red to its days high in seconds, when someone bought around 100K shares ! The stock closed in the green and up 3.5% on solid volume. I alerted my twitter followers to GDOT mainly because of this very strong buy order but their technical indicators also are screaming for a potential breakout. Short-term trend was broken to the upside, next stop 12 resistance and then gap fill at 13. The 20-day moving average is climbing up and we can see the RSI starting to break above 50. GDOT looks to be on the right track to a serious breakout. Besides what we see on the charts, one thing of interest has been the strong insider buying recorded in early November. CEO bought 89K shares. The short interest is about 16.23% of the float and it’s supposed to take about 7 days to cover it, so a squeeze is always possible. If it breaks the 50-day today, shorts might be in trouble. Institutional still holding 72.29%. From a fundamental standpoint GDOT has a PE of 14.53, PEG of only 0.62%, $5.61 cash per share and a ROE of 12%. Keep GDOT on your radar screens.

Trade Ideas: RIMM, GDOT, LSCC, NOK, ZNGA

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Nokia Corporation (ADR) (NYSE:NOK) broke out on Wednesday and I am looking for a continuation move today. Heavy volume came in as NOK broke through its resistance level of $3.22 ( 200-day moving average ). Wednesday’s high is resistance for a follow through move today. I’m buyer of NOK once the stock breaks through these highs and expect to see another strong upside move. Short-term investors can buy with a stop at $2.75 and long-term investors can hold with a stop at $2.3.

Trade Ideas: RIMM, GDOT, LSCC, NOK, ZNGA

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Research In Motion Limited (NASDAQ:RIMM) closed on Wednesday above its 200-day moving average for the first time since May 2011, closing at 10.26 on over 39 million shares. The stock up over 15% since my call on 17-11-12 Post : Watchlist for next week . In the short term, the overbought conditions on RSI and Stochs could result in a short-lived pullback, but I feel that will be temporary.

Trade Ideas: RIMM, GDOT, LSCC, NOK, ZNGA

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Zynga Inc (NASDAQ:ZNGA) is showing signs of bottoming out on the charts along with the MACD giving positive signals. The stock broke a small bull flag higher Wednesday and with a rising RSI and stochastics the stock has room to run higher. The next resistance level to watch is 2.54 then 2.62.

Trade Ideas: RIMM, GDOT, LSCC, NOK, ZNGA

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Institutions are buying Lattice Semiconductor (NASDAQ:LSCC). They are seeing value after it has been sold down recently. Institutions bought 8.7M shares in the current quarter. From the technical chart it looks like the stock is ready for another rally as %K line is on top of %D line indicating buy signal. Watch the downtrend line resistance.

Trade Ideas: RIMM, GDOT, LSCC, NOK, ZNGA

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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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