Technical setups for Wednesday, June 21

( click to enlarge )

Dear Readers,

First of all, please accept my apologies for the missing update of the blog on Monday, but I was very sick.

Let's start the day looking at the technical chart of Tellabs, Inc. TLAB. The stock closed the day up 6.42% at $4.31 after hitting a session high of $4.34. I don't think this stock will stay here for long. The technical chart is begging for an explosive move higher. I think the market makers have come to grips with the fact that TLAB will be at $5 some point in the near future. The technical indicators are looking better now for the stock. I went long at $4.19 as its quite possible we should see a short term move near $4.63/share. On the daily chart we can see that the stock has penetrated an important resistance line, which has been touched no fewer than four times since last month. The bias is now bullish in nearest term but remains neutral in medium term. With KD rising we could see possible rally coming for the stock. In addition, MACD has generated a buy signal. Let's keep an eye on TLAB as i think momentum will pick up.

( click to enlarge )

TEKELEC TKLC is displaying a short upside momentum, price broke out from the horizontal resistance mark around $8.25 per share on heavy volume. Expect an initial run up to $9.28. A few more positive session could bring MACD back above 0 meaning bull market. TEKELEC is a good bet for a long player.

( click to enlarge )

GT Solar International, Inc. SOLR has a Bullish looking stock chart. The stock broke out today on pretty good volume. If this chart does what is supposed to do, it will be going higher in the days to come. At the moment, there is no reason to sell the stock. Hold with a stop-loss at $12.46.

( click to enlarge )

THQ Inc. THQI - In the short-term, I identify an opportunity for an upside recovery, which remains to be confirmed. We have not had a clear capitulation to stop the bearish trend in progress but the major support around $3.33 which we arrived a few days ago have held, it managed to stop the decline. Technical indicators are showing some signs of recovery. MACD is poised for a positive crossover while its RSI is slowly picking up.

Keep up to date by subscribing AC Investor Blog newsletter or RSS feed. You may wish to also follow me on Twitter

Other stocks to watch :
Earnings Announcements for Wednesday

Ameron International Corp - AMN
AZZ Inc - AZZ
Bed Bath & Beyond Inc - BBBY
Carmax Inc - KMX
China Nutrifruit Group Ltd - CNGL
Euro Tech Holdings Co Ltd - CLWT
Fedex Corp - FDX
Flow International Corp - FLOW
HB Fuller Co - FUL
Herman Miller Inc - MLHR
IHS Inc - IHS
Paychex Inc - PAYX
Phoenix New Media Ltd - FENG
Red Hat Inc - RHT
Robbins & Myers Inc - RBN
Semileds Corp - LEDS
Sonic Corp - SONC
Steelcase Inc - SCS
Vimicro International Corp - VIMC

The following list show stocks whose volume has been increasing over the last 2 sessions

MO - ALTRIA GROUP
AMAT - Applied Materials
XRX - XEROX CORP
LVS - LAS VEGAS SANDS CP
SWKS - SKYWORKS SOLUTNS
LLY - LILLY ELI & CO
PNC - PNC Financial Services
COP - ConocoPhillips
NBR - Nabors Industries Inc
PPL - PPL CORPORATION
CTL - Centurylink Inc
AGNC - American Capital Ag
MCP - Molycorp Inc
LINTA - LIBERTY MED INT A
TWO - TWO HARBORS INVT CP
WM - WASTE MANAGEMENT INC
MAT - Mattel Co
RIG - Transocean Ltd
RVBD - Riverbed Technology
ESRX - Express Scripts, Inc.
CCJ - CAMECO CORP
NSM - NATIONAL SEMICONDUCTOR
BAX - BAXTER INTERNATIONAL
TIBX - TIBCO Software, Inc.
LMT - LOCKHEED MARTIN CORP
HERO - HERCULES OFFSHORE
LO - Lorillard Inc
ITW - ILLINOIS TOOL WORKS
BIIB - IDEC Pharmaceutical
ARO - AEROPOSTALE INC
XEL - XCEL ENERGY INC
MBI - M B I A INC
ID - Viisage Technology
AEE - AMEREN CORP
ARR - Armour Resd Reit
NFX - NEWFIELD EXPLORATION
LEG - LEGGETT & PLATT INC
ORI - OLD REPUBLIC INTL CORP
AINV - APOLLO INVT CORP
DGX - QUEST DIAGNOSTICS INC
OSK - Oshkosh Corp
CRUS - Cirrus Logic, Inc.
DNDN - Dendreon Corporation
CB - CHUBB CORP
RMBS - Rambus, Inc.
HLX - Helix Energy Solutions
ANN - Ann Inc
DHX - Dice Holdings Inc
RES - R P C INC
HGSI - Human Genome Science
PH - PARKER HANNIFIN CORP 8
LULU - lululemon athletical
PXD - PIONEER NATURAL RES CO
LYV - Live Nation Entn
HOC - Holly Cp
CRS - CARPENTER TECH CORP
TPX - TEMPUR-PEDIC INTL INC
NAV - NAVISTAR INTL CORP
IMAX - Imax Corporation
FMER - FirstMerit Corporation
SNH - SENIOR HOUSING PROP
IBN - Icici Bank Ltd
VRGY - Verigy
AMLN - Amylin Pharmaceutical
SNE - SONY CORP
NDN - 99 CENTS ONLY STORES
CBOU - CARIBOU COFFEE COMP
HP - HELMERICH & PAYNE INC
EFX - EQUIFAX INC
BEAV - BE Aerospace, Inc.
ERJ - Embraer Sa
GPC - GENUINE PARTS CO
KT - KOREA TELECOM CORP
CVG - CONVERGYS CORP
ASH - ASHLAND INC
ARAY - Accuray Inc
SKX - SKECHERS USA INC
CODE - Spansion Inc
MELI - MercadoLibre Inc
PMC - Pharmerica Corp
ACM - Aecom Technology Corp
TEG - WPS Resources Corp
NSTC - NESS TECHNOLOGIES INC
SVVS - Savvis Cp
RLD - REALD INC
WBMD - Webmd Health Crp
HTLD - Heartland Express
ZLC - Zale Corp
BGCP - eSpeed, Inc.
UIL - UIL HOLDING CORP
PSSI - PSS World Medical Inc
AMED - Amedisys Inc
THG - ALLMERICA FINANCIAL
RBN - ROBBINS & MYERS INC
SFN - Sfn Group Inc
HAR - HARMAN INTL INDS INC
SPW - S P X CORP
ELMG - EMS Technologies
HMIN - Home Inns & Hotels
AZPN - Aspen Technology, Inc.
PII - POLARIS INDS INC
IT - GARTNER GROUP INC
NDSN - Nordson Corporation
SLAB - Silicon Laboratories
SCOR - comScore Inc
GORO - GOLD RESOURCE CORP
REN - Resolute Energy Corp
PODD - Insulet Corp
BRC - BRADY CORP
OFG - ORIENTAL FNCL GROUP
NTGR - NETGEAR INC
EZPW - EZCORP, Inc.
LNT - Alliant Energy Corp
HRC - Hil-Rom Holdings
DBD - DIEBOLD INC
BAK - Braskem SA
GRB - GERBER SCIENTIFIC INC
CADX - Cadence Pharmaceutical
FUL - HB Fuller Co
KNL - KNOLL INC
NJ - NIDEC CORP
DMAN - DemandTec Inc
TICC - TICC Capital Corp
DOLE - Dole Food Co
CSH - CASH AMERICA INTL INC
FTEK - Fuel Tech
FDML - Fedral-Mgul Corp
FNGN - Financial Engines Inc
CDXS - Codexis
FRC - First Republic Bank
SSL - Sasol Ltd
FLT - FleetCor Technologies
DQ - DAQO NEW ENERGY CORP
GNRC - Generac Holdings Inc
ACTG - Acacia Research Corp
LGCY - Legacy Reserves LP
ASYS - Amtech Systems, Inc.
AVX - A V X CORP

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.

Thanks for visiting AC Investor Blog.

Market News and Data brought to you by Benzinga APIs

Comments

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga