` Gary Investing Blog: 5 More Stocks to Watch for the rest of this week.


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Wednesday, April 10, 2013

5 More Stocks to Watch for the rest of this week.

Russell 2000 seems to find support from MA(50) after recent correction.

Stratesys, Inc. (NASDAQ: SSYS) is in the same industry as DDD, has a volume breakout today, with a huge move, crossing above MA(50) again. It looks like MACD signal line could pick up anytime. Keep it on your radar. A close above $76.61 generates a buy signal.

JC Penny Co, Inc. (NYSE: JCP) After announcing the company might go private, the stock tanked significantly, making a new 52week low. Double top pattern is found with top at $17.17 and $16.26, although the outlook is very bearish, the stock might bounce back to $16 level again this week. I suggest to stay away JCP as it becomes too volatile and sensitive to breaking news.

Cree, Inc. (NASDAQ: CREE) has a big move today after pulling back from $55.66 to $48.40. MA(50) served as a support very well. Volume confirms today's big Tuesday's big move. MACD histogram recovering quickly after reaching extremely low level. I target $60.00 for CREE.

Tesoro Petroleum Corp, (NYSE: TSO) is trying to get back above MA(50) but seems to have lost its strength. Candlesticks are turning smaller gradually and decreasing volume. Bearish MACD crossover. MA(50) is turning around. RSI crossed below 40 last week. Double top pattern is confirmed if TSO fails to break above $55.37. I target $50.00 by next week and ultimately $45.00 in 3-4 weeks.

Good luck in trading

Gary Investing Blog

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