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Stock Trade Ideas for Wednesday June 20

By: AC Investor Blog

Posted on June 19, 2012 at 17:23 PM EDT

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Momentum picking up with stochastics climbing and RSI rising. The short-term outlook for Zynga Inc (NASDAQ:ZNGA) appears positive. The current rally should at least push the stock to 6.36 per share where the major resistance is. The stock needs to close above this level to indicate a continuation of the rally off this month’s low. If this rally fails, there’s downside risk to support around 5.51.

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Camelot Information Systems Inc (NYSE:CIS) - Positioned to see another upwards run. In the past few days we have noticed that CIS has been on a consistent bullish uptick in market valuation. Moreover, along with the market valuation the technical indicators RSI, MFI and MACD have been bullish, rising for the past several days. Additionally, the stock past a key resistance level of 2.35. So, keep watching CIS trade and watch for potential continuation of its recent upward move. Look for a quick run to $2.56 then $2.85. Note : On May 23, 2012, Barclays reiterated an Overweight rating for the company and a $6 price target.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) The stock today made a new high on heavy volume, but closed near the low of the day this behavior is a little strange and not a good signal. Additionally, made a doji it will trade sideways or test $9 as support.

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XenoPort, Inc. (NASDAQ:XNPT) - It’s trading sideways, but I believe that it will make a spike soon. Golden cross on daily chart supports higher prices ahead.

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Sirius XM Radio Inc (NASDAQ:SIRI) is now trading close to the resistance level at the 1.96-2 range. A close above this range would impart strength and the stock could move easily to 2.12-2.15 subsequently. The near-term outlook for the stock does not appear negative. Only a close below 1.78 would have negative implications. Hold on with a stop loss at this level. During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.

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.

AC

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