Vipshop Holdings Ltd (NYSE:VIPS) Watch for a possible resistance breakout. The upside momentum could push the stock to 21.5/23 if it breaks and close above the downtrend line. Major momentum indicators are gaining strength, this suggests further upside momentum.
AK Steel Holding Corporation (NYSE:AKS) finally closed back above the 2.38/2.4 resistance area Friday on decent volume. If momentum continues as I expect next week, I believe we could see a nice rally to 2.89 or 3, the next short-term resistance.
Jumei International Holding Ltd (NYSE:JMEI) is setting up for a potential breakout above 10.46. This range needs to be broken to signal the next major directional move. Most oscillators momentum indicators are showing strength.
Micron Technology, Inc. (NASDAQ:MU) is a buy based on Friday's bullish move. The stock broke the 20-day EMA and also the resistance of the descending channel. First possible target price for this stock is at $16.92 (50EMA) and have to see from there. Looking at the technical indicators, we have the RSI above the 50% level and the MACD also triggered a new bullish signal. The 200-day EMA is now located at 22.79, which leaves a lot on the table in terms of upside potential. Long setup.