Greeting from Hong Kong. Once again, I wish everyone a happy new year.
Apple, Inc. (NASDAQ: AAPL) Don't get too hyped by the heat on Apple these two days which is perfectly normal after deal on fiscal cliff. Despite of the bullish MACD crossover, AAPL still needs to break above its downtrend since last September in order to prove an uptrend begins. Since last Sept, Apple has shown great resistance around 50-RSI level. With a turning around MA(200) and low trading volume of Apple since 2013, I have very minimum confidence on Apple breaking above the downtrend drawn above. I think it is a good opportunity to initiate short positions with a stop at or above $560.00.
3D System Corp. (NYSE: DDD) breaks above and makes a significant new high with great volume. As I have mentioned previously, DDD usually experiences huge pullback after making a new high. I have sold some shares, looking forward to entry again at around $53.00.
eBay, Inc. (NASDAQ: EBAY) has made a higher low at $49.20, confirming the validity of the uptrend. EBAY has made a 52-week new high and MACD is about to cross over. I remain bullish on Ebay.
InterDigital, Inc. (NASDAQ: IDCC) Not only I mentioned on
1/1/2013 that IDCC has made a higher lows, confirming the continuation of uptrend amid fiscal cliff talk, I have also signaled my followers on
twitter today at $42.19 that the stock is a great bargain. There is no reason for a stock with a strong uptrend like IDCC underperforms the indexes on a huge day like yesterday. Later the day, IDCC jumped 6% and closed at $43.64 at high or day. I am looking forward to more upward action on IDCC, especially when it breaks $44.00.
Thank you for reading my blog. Feel free to leave a comment.
Gary Lee
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