Stocks in Play for Nov 12: CSCO, DRYS, SVA

Bulls are back !!! DryShips Inc. (DRYS) surged 9.43%, closing the day at $5.63 with the overall traded volume of 45 million shares for the day. We now have further confirmation of the upward move. The technical chart below shows the stock is in bull market as %K line is above %D line with MACD above signal line. With stock back above 200-day moving average there is plenty of upside for this stock. Stochastics and the RSI are overbought but remain bullish signaling. The bias is on the upside, targeting 6.67 area. Immediate support is seen at 5.25 followed by 5.

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Cisco Systems, Inc. (CSCO) the bullish trendline mentioned in the chart that started in September. The stock has a strong support at 20.25 which will be difficult to break on the downside. It’s 52-week low is at 19.82.

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Sinovac Biotech Ltd. (SVA) traded higher on Thursday, as the stock received an upgrade pre-market. The stock closed up $.23 on heavy volume. I’m a buyer of SVA once it breaks through today‚Äôs high of $4.54 for the continuation move. Selling volume has been light while accumulation days have been heavy. You need to keep the stock on your screen throughout the day, because the stock will take off very quickly.

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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 324 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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