` Gary Investing Blog: 12/17: BAC, DDD, GOOG, SKYW, NOK, RIMM

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Monday, December 17, 2012

12/17: BAC, DDD, GOOG, SKYW, NOK, RIMM

 Told you yesterday to watch a break above $10.70 which could send the stock to $11.00 quickly. It came true and Bank of America (NYSE: BAC) actually ran up to exactly $11.00. There might be some consolidation coming and I do NOT suggest to take a long position and catch the train now due to 74.34 reading on RSI. If you already long this stock, stop at $10.35.

3D Systems Corp. (NYSE: DDD) is one of my all time favorite stocks besides IDCC, SSYS. I have been mentioning this stock since the summer. I also signaled my followers to trade its pullback when it is trading at $41.00. Click to see all my posts on DDD. Right now both Bbands are upward sloping and DDD up trend is accelerating with higher lows. Watch for a breakout at $49.35 which could send the stock to $55.00 in no time according its behavior when breaking above psychological resistance in the past.

 Nokia Corp. (NYSE: NOK) breaks above a bull flag today with highest volume in 7 trading days. MA(50) is about to cross MA(200) from below. My short term target on NOK is $4.20. Stop at $3.6.

 Things just cant get any better. I have mentioned SkyWest, Inc (NASDAQ: SKYW) on 12/10 (Click to open in new tab) that it is forming a huge ascending triangle. Today, it breaks above the pattern with huge volume. A/D is upticking since Nov despite of little price actions. MACD centerline held my pretty well above 0 benchmark. My short term target on SKYW is $13.50, to be safe. Stop at $11.33. 1:2 risk-reward ratio, a very nice breakout candidate.

Google, Inc (NASDAQ: GOOG) Again!!! Inverted head and shoulder on chart. MACD Centerline crossed above zero benchmark two weeks ago. Told you to purchased yesterday when it is trading around the neckline. The pattern is confirmed and filly formed. I am bullish and have a short term target of $740. Stop at $680. I think it eventually can get to $780 in 1-2 months.

Research in Motion (NASDAQ: RIMM) dropped slightly today. I think it can pullback to $12.5 before more appreciation. I don't suggest to take long position now. RSI is too high.

Other noticeable Tweets today:
$INTC double Doji on daily chart.
$AMR How far could it go??
uhoh  is really not looking nice now.

I suggest readers to follow me on Twitter to get real-time updates and signals on breakout and various different pattern trading. https://twitter.com/GaryLee_HK

1 comment:

  1. At this moment I am going away to do my breakfast, when having my breakfast coming yet again to read further news.
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