Stocks to Watch: NVDA, DNDN, FB, RIMM

NVIDIA Corporation (NASDAQ:NVDA) The bias still bullish in nearest term testing 13 area but remains neutral and no clear direction in medium term. Only a clear break above the 200-day EMA could confirm the bullish scenario. With %K line back above %D line and stock back above 50-day EMA, we may see some rally coming. Positive RSI is confirming the upside movement.

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With the Dendreon Corporation (NASDAQ:DNDN) holding above its rising 9 / 13 / 20 EMAs, I expect further upside. The stock may expect some resistence at $6.84 per share, the 200-day EMA.

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Facebook Inc (NASDAQ:FB) made a very significant move yesterday breaking out from the horizontal resistance mark around $32.21 on heavy volume in the face of a weak market. This breakout suggests a possible move to $35.

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Research In Motion Limited (NASDAQ:RIMM) broke down its support yesterday on increased volume and selling pressure making this stock appear that it could easily be sent down to its next support level around $15. Only the break of the prior support now resistance confirmed by a daily closing will support higher levels. The indicators of the daily chart are starting to turn down, suggesting further possible pressure. Only a strong closing again above yesterday’s top could change this scenario.

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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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