Trade Ideas for Tomorrow: ALU, DRYS, GIGM, JAZZ

Jazz Pharmaceuticals, Inc. (NASDAQ:JAZZ) is setting up for a nice upside move and I’m going to be there when it occurs. The stock traded higher again on Wednesday as the stock ended the day near highs. The strength at the end of the day tells us to expect continued buying on Thursday. I expect to see a strong upside move once the stok breaks through resistance now at $25.48. Technically, my model remains long. The Relative Strength Index is moving higher, which is a sign of growing strength in the stock. Also the MACD is giving a positive indication. Keep a very close eye on the stock as it will move quickly once it breaks through resistance.

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Alcatel-Lucent (NYSE:ALU) had a very strong day on Wednesday, as the stock broke out of its resistance trend line on the way to closing up 53 cents on the day. Wednesday’s high was $5.26, which is resistance for Thursday’s follow through move. You want to keep an eye on ALU so you do not miss when the stock does break through resistance.

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DryShips Inc. (NASDAQ:DRYS) is showing signs of buying activity at these levels, as the stock has been able to hold up the past few sessions. Resistance level in DRYS is the high from Tuesday, which is $5.06. Watch the stock closely on Thursday for a possible move.

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From TA view, GigaMedia Limited (NASDAQ:GIGM) shows a bullish divergence on MACD while both RSI and Stochastic look oversold. To return to rally mode, the stock needs to cross its short-term resistance at $1.16. A move above this level would be positive for the stock. A reversal above $1.16 will take the stock higher to $1.25 or $1.34 over the medium-term. Short term momentum is oversold with a positive MACD divergence. GIGM may show recovery but rally is likely only above $1.34. The stock has good support at $1.12.

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Banner Corporation (NASDAQ:BANR) – Found support at 13-day moving average. On Balance Volume still shows strong accumulation. A break above $2.59 would be a buy signal.

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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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