Trade Ideas: VVUS, TSLA

By May 14, 2013, 7:59 AM Author's Blog  

Shares of Tesla Motors Inc (NASDAQ:TSLA) closed the day gaining more than 14% to a new historic mark for stock at $87.83, near the highs of the day at $87.87. The stock has been on one of the most amazing runs of this month. At the present level the stock is incredibly extended, anyway TSLA is now seeing blue skies as there is no resistance overhead. I’m bullish on TSLA, but in situations like this (extreme overbought conditions) I prefer to wait for a pull back, rather than chase the market.

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VIVUS, Inc. (NASDAQ:VVUS) broke horizontal resistance line and looks ready to test the EMA200 at 14.25. With a short interest of over 28 million shares, there is the potential for a squeeze.

(click to enlarge)

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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