6 Stocks on watch for today

Even though Apple, Inc. (NASDAQ: AAPL) has bounced back 2.26%, closing at almost $450.00, it failed to close higher than the opening price of the previous day and reached a low almost as low as yesterday's low. The outlook from this kind of short term candlestick pattern is usually bearish. Percentage of institutional ownership has already fell to 67% while it was 70%+ half an year ago. As mentioned, I still short AAPL, targeting $400.00.

 After I mentioned Caterpiller, Inc. (NYSE: CAT) in yesterday's post, CAT really jumped almost 2% after touching centerline of Bbands, MA(20). It is a full formation of a double bottom pattern with a breakout and pullback to the neckline. I have a target of $100.00 in the short run as we are reaching a major psychological resistance, but I believe CAT has no problem with getting back to the $115 level as in early 2012 in the long run.

Alpha Natural Resources, Inc. (NYSE: ANR) has fully formed a head and shoulder pattern with a breakout below $9.00. MACD is about to cross below zero. The outlook is very bearish even though golden cross might be coming anytime next week.

First Solar, Inc. (NASDAQ: FSLR) touches MA(20). Should it find support from MA(20) and start another round of appreciation? Keep FSLR on your radar. I remain bullish on FSLR unless it closses below $29.00.

 Nokia Corp (NYSE: NOK) Told you to be patient on NOK. The recent fall is just people taking profits. NOK has found support from its uptrend and trading as high as $4.35 yesterday. As mentioned, I would be shocked if NOK dropped below $4.00.

Zynga, Inc. (NASDAQ: ZNGA) jumped 14.06% yesterday after touching its lower band of the upwards channel, making ZNGA closing above its gap $2.75 in one day with HUGE VOLUME. I am bullish on ZNGA but might consider selling partial positions when it touches $3.0.

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Gary Investing Blog