( click to enlarge )Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) finally broke above resistance in today's trading session accompained by a strong volume suggesting higher levels. I don't see anything until the $4.09-$4.15 area. On the technical side, the MACD and stochastics all point to upward trend while RSI is also rising but hasn't yet reached overbought level. The stock is now back above the 50-day exp moving average, which is very bullish. Let's see if tomorrow the stock will confirm the breakout. Short-term investors can buy with a stop at $3.39 and long-term investors can hold with a stop at $2.94. The short interest is also high (27%), with more than 16.7 million shares sold short. This breakout could force the bears to cover. Let's keep an eye on her as i think momentum will pick up.
( click to enlarge )Corning Incorporated (NYSE:GLW) potential breakout play for Thursday. If the stock can break through $18, we should see strong volume drive the stock higher. Long setup.
( click to enlarge )The short-term outlook for JDS Uniphase Corp (NASDAQ:JDSU) is bullish. Fresh long should be made when the stock price closes above $13.31 ( 100-day exp moving average ) with an up candle. We need a consistent move above this level to continue the bullish scenario testing $13.48 ( 200-day exp moving average). Long setup.
( click to enlarge )NVIDIA Corporation (NASDAQ:NVDA) had a strong move on Wednesday, as the stock set new 52-week highs. The stock hit a high of $16.44, which is resistance for the follow through move. The trend is bullish as the stock price is above 50-day and 200-day exp moving averages with both moving averages going up. You should watch NVDA closely on Thursday.
( click to enlarge )Zynga Inc (NASDAQ:ZNGA) broke through resistance at $4.22 today, but was not able to gather must momentum, closing at 4.18. Wait a clear confirmation.
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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.
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