QUALCOMM, Inc. (NASDAQ:QCOM) — Buyers appear to be targeting QCOM stock. According to Benzinga,
on Wednesday, the QCOM July $72.50 calls traded 2,960 contracts above
the ask price of $0.88, and rumors circulated of a possible deal with Ambarella Inc (NASDAQ:AMBA).
I must emphasize that this is only a rumor and should not be the sole
reason for buying shares, but fundamentals and technicals are also
encouraging for a short-term trade. (more)
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Monday, June 1, 2015
Stocks To Watch: ZIOP, MSFT, ACHN, CTIC, OAS
( click to enlarge )
The daily technical chart pattern of
ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) has been consolidating within a
falling wedge pattern that has bullish implications. A breakout is
needed to end this large consolidation and resume the uptrend. At this
point Im inclined to mark a key resistance zone around 10-10.2. A move
above this area, would break the upper trendline and the resistance
zone. If a breakout occurs, we could see an acceleration of the bullish
momentum and move toward the 11.50-12.13 area. Daily technical
indicators are looking bullish, MACD and RSI are showing upward
momentum. On watch.
( click to enlarge )
Microsoft Corporation (NASDAQ:MSFT)
has been consolidating in a bullish pennant over the last five weeks.
Play the break of the pattern.
( click to enlarge )
Achillion Pharmaceuticals, Inc.
(NASDAQ:ACHN) has gained momentum recently and the stock rebounded about
10% in the past couple of trading sessions on increased volume. On
Friday, the stock closed near its critical breakout point of $10, which
may be broken out next week. Looking at the daily technical chart the
MACD momentum is rising and RSI is on a strong uptrend, which when
combined with the strengthening MACD could spell a strong move for the
stock. If it crosses the $10 level, the stock has potential to gain
10-12%.
( click to enlarge )
CTI BioPharma Corp (NASDAQ:CTIC)
could be in the early stages of a technical breakout. Technicals are
showing bullish signals supported by rising MACD, ADX and RSI on the
daily charts. For now, expect a run up to next resistance area around
$2. If the stock is able to cross it and sustain above it, then it might
go to $2.40. Keep it on your watch list going forward.
( click to enlarge )
I continue to support the idea of a
significant rally on shares of Oasis Petroleum Inc. (NYSE:OAS), probably
even above the February highs. The bulls remain in control as long as
it continues consolidating its recent move. We still need to see a break
and close above 17.83 or 100EMA to confirm a continuation to the upside
with a next target in the 20 area. Only a break back below the 15 would
invalidate this bullish outlook.
PPG Industries, Inc. (NYSE: PPG)
PPG Industries, Inc. manufactures and distributes coatings, specialty
materials, and glass products. The company’s Performance Coatings
segment provides coatings products for automotive and commercial
transport/fleet repair and refurbishing; light industrial and specialty
coatings for signs; sealants, coatings, maintenance cleaners, and
transparencies for commercial, military, regional jet and general
aviation aircraft, and transparent armor for specialty applications; and
chemical management services. Its Industrial Coatings segment provides
adhesives and sealants for the automotive industry, and metal
pretreatments and related chemicals for industrial and automotive
applications; precipitated silicas for tire, battery separator, and
other markets. The company’s Glass segment produces flat glass and fiber
glass for commercial and residential construction, and wind energy,
energy infrastructure, transportation, and electronics industries. PPG
Industries, Inc. sells its products through owned stores, home centers,
paint dealers, concessionaires, other consumer retail outlets,
independent distributors, and directly to customers. The company was
founded in 1883 and is headquartered in Pittsburgh, Pennsylvania.
Take a look at the 1-year chart of PPG (NYSE: PPG) below with added notations:
After a strong rally from October until the end of December, PPG has been trading mostly sideways over the last 5 months. During the last 2 months of that move the stock has formed a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern.
PPG’s rectangle pattern has formed a resistance at $232.50 (red), and a $220 support (green) area. At some point the stock will have to break one of the two levels.
The Tale of the Tape: PPG is trading within a rectangle pattern. The possible long positions on the stock would be either on a pullback to $220 or on a breakout above $232.50. The ideal short opportunity would be on a break below $220.
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Take a look at the 1-year chart of PPG (NYSE: PPG) below with added notations:
After a strong rally from October until the end of December, PPG has been trading mostly sideways over the last 5 months. During the last 2 months of that move the stock has formed a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern.
PPG’s rectangle pattern has formed a resistance at $232.50 (red), and a $220 support (green) area. At some point the stock will have to break one of the two levels.
The Tale of the Tape: PPG is trading within a rectangle pattern. The possible long positions on the stock would be either on a pullback to $220 or on a breakout above $232.50. The ideal short opportunity would be on a break below $220.
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My Million-Dollar Tech Portfolio: RGEN, AMBA, CLGX, FPX, BABA, XLK, CRAY
When I spoke with my Strategic Tech Investor readers last week, I illustrated how one of our Million-Dollar Tech Portfolio stocks had soared 53% in just a little over two months.
But Repligen Corp. (Nasdaq: RGEN) isn’t the only big winner. In fact, six of our seven investments in the Million-Dollar Tech Portfolio are up — and the other is just a hair below breakeven. (more)
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But Repligen Corp. (Nasdaq: RGEN) isn’t the only big winner. In fact, six of our seven investments in the Million-Dollar Tech Portfolio are up — and the other is just a hair below breakeven. (more)
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US Weekly Economic Calendar
time (et) | report | period | ACTUAL | CONSENSUS forecast |
previous |
---|---|---|---|---|---|
MONDAY, JUNE 1 | |||||
8:30 am | Personal income | April | 0.3% | 0.0% | |
8:30 am | Consumer spending | April | 0.2% | 0.4% | |
8:30 am | Core inflation | April | 0.2% | 0.1% | |
10 am | ISM | May | 51.8% | 51.5% | |
10 am | Construction spending | April | 0.7% | -0.6% | |
TUESDAY, June 2 | |||||
10 am | Factory orders | April | -0.1% | 2.1% | |
TBA | Motor vehicle sales | May | 17.2 mln | 16.5 mln | |
WEDNESDAY, JUNE 3 | |||||
8:30 am | Trade deficit | April | -$43.1 bln | -$51.4 bln | |
10 am | ISM nonmanufacturing | May | 57.3% | 57.8% | |
THURSDAY, JUNE 4 | |||||
8:30 am | Weekly jobless claims | May 30 | 285,000 | 282,000 | |
8:30 am | Productivity | 1Q | -3.0% | -1.9% | |
8:30 am | Unit labor costs | 1Q | 6.0% | 5.0% | |
FRIDAY, JUNE 5 | |||||
8:30 am | Nonfarm payrolls | May | 210,000 | 223,000 | |
8:30 am | Unemployment rate | May | 5.4% | 5.4% | |
8:30 am | Average hourly earnings | May | 0.2% | 0.1% | |
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