Trade Ideas: AA, AOB, HNSN, VRX

Alcoa Inc. (NYSE:AA) broke out to a new 52-week high today, accompained by a strong volume suggesting higher levels. The technical chart still showing a bullish bias. MACD shows positive signs and RSI continue moving up. I suspect the stock may continue to appreciate over the coming days.

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Valeant Pharmaceuticals Int (NYSE:VRX) has been is on a remarkable run since December and it doesn’t looks like the trend will change soon. At this stage, the stock is in overbought territory from a technical standpoint, however it does not mean the stock won’t still go up, but a pull back is needed.

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Despite the general market’s weakness, American Oriental Bioengineering, Inc. (NYSE:AOB) made an impressive turnaround and rallied almost 8% to close the day at $1.52. The next visible resistance is at $1.64-1.69 area. Today’s spike could bring MACD Histogram above zero horizontal line, generally a bullish sign. In addition, KD line seems to be crossing up indicating bullish swing.

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Hansen Medical, Inc. (NASDAQ:HNSN) showed buying strength all day on Tuesday. The volume dramatically increased as the stock ran to the old highs, showing me there are buyers watching the stock. From the technical daily chart below the stock shows very strong bullish sign. First of all, HNSN is trading above both 50-day and 200-day moving average. Then the MACD is rising above 0 also indicating a buy. In addition, %K line is on top over %D line showing the stock is on the positive swing.

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Other stocks to watch :

Shares of Hemispherx BioPharma, Inc (AMEX:HEB) continue to show some nice strength for a small cap. Keep an eye on resistance located at $.48 as well as $.50

Cell Therapeutics, Inc. (NASDAQ:CTIC) – As long as the stock is trading above $0.375, I like the stock. If the stock closes above $.416, you could see a big turnaround in CTIC.

Banner Corporation (NASDAQ:BANR) remains high on my radar due to the recent run up on heavy volume. I plan to buy the stock on a break above $2.53 and add more on a break above $2.64.

Shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) appear to be forming a bottom right now. A break below $1.26 would be very bearish but a break above $1.39 would be bullish and I plan to buy.

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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