Trade Ideas: LULU, MCP, NFLX, SIRI

As I reported before, the daily chart of Netflix, Inc. (NASDAQ:NFLX) is not extremely good. It’s showing signs of topping. Indicators are not supporting the bullish scenario right now and there is a bearish divergence on MACD. RSI also crossed down the 50 level. All these factors are bearish factors. Break below $225 will give way to further weakening.

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Molycorp, Inc. (NYSE:MCP) broke out today and traded nearly 2x normal daily volume. The stock has the potential to make a big run on Wednesday, so keep a close eye on MCP and don’t miss the trade.

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Two weeks ago I wrote a post that there might be a buying opportunity present in Sirius XM Radio Inc. (NASDAQ:SIRI), as it bounced from its uptrend line support again. Today, the stock broke out above the key psychological Level of $2 on huge volume of over 243 Million shares. The stock closed out at 2.07 up 16 cents on the day. The stock showed a lot of strength and I expect to see another round of buying. The stock finds an immediate support at $2 and resistance at $2.09. Fresh long position can be initiated if the stock climbs above this price.

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Lululemon Athletica inc. (NASDAQ:LULU) – Short-term trendline broken, we might test previous resistance.

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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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