Four Stocks To Keep An Eye On

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Banner Corporation (NASDAQ:BANR) - As many traders could see, today's rise on increased volume amongst many other bullish indicators could push the stock substantially higher than where it is trading now which is around its base levels. As you could see, the stock has several favorable technical factors suggesting that it could breakout to new levels and could test its 52-week high which often attracts additional traders on the buyside, putting upward pressure on shares. The technical chart shows the stock has been doing well since the beginning of this year since the 50 day moving average went on top over 200 day moving average. In addition, the accumulation /distribution indicator is showing strong accumulation since it bottomed in November 2010, which is also a strong bullish sign. It’s a future sign that the price will rise because it’s a leading indicator. That means the indicators gives a buy or sell signal before the actual price movement occurs. Short interest on BANR as of Mar 31, also decreased 29.8% to 445,900 shares from 635,800 indicating that bears are covering their positions. Plus, the decline over the last few days occurred on lower volume and the stock is firming above the major support of $2.28. BANR has now the opportunity to start new rally as %K line is back above %D line. The near-term outlook is bullish and a close above its 50-dma would confirm this view. I continue to have a favorable longer-term view of the company and I believe the stock should provide steady, above-market returns over the long run. BANR just need more interest to get volume as the technicals are calling for a run. Keep watching the stock this week since I expect more volume over the next couple of days.

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Looking at the technical chart of Advanced Micro Devices, Inc. (NYSE:AMD) the stock price is clearly in short-term downtrend. There are no signs of a recovery yet. Hold your long position with a stop loss at $8.12 (closing day basis).

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Accompanied with good volumes, Silgan Holdings Inc. (NASDAQ:SLGN) marked an all-time high in the last trading session. With this, the daily momentum indicator has reached overbought levels and I believe that a near-term correction is likely to happen.

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GigaMedia Limited (NASDAQ:GIGM) - In the last trading session, the stock broke through the flag pattern. This means there is more upside. I think this is quite likely.

Other stocks to watch :

Cell Therapeutics, Inc. (NASDAQ:CTIC) needs to hold 38 cents on the downside or things could get very ugly. On the upside, the stock has resistance located betwen 40 and 41 cents.

Shares of Motorola Mobility Holdings Inc (NYSE:MMI) continue to hold the recent $22.96 low. I would continue to be a buyer of MMI below $23.50. This stock is due for a rally back into the $26's.

Shares of Ciena Corporation (NASDAQ:CIEN) continue to inch higher. The stock really doesn't have any resistance until $27-$27.41.