( click to enlarge ) Dendreon Corporation (DNDN) seems to be on its way to recovery from the recent drop. The stock price has been falling on low volume for about 2 weeks now. I know I thought that $15 was a great buying opportunity, but I still think it is time to buy. A quick look at the daily chart of DNDN shows us that: - The stock price has been making higher lows since January. - The volume of transactions has been increasing substantially over the last 2 months. - The 50 daily moving average is turning up for the first time since July 2010 - DNDN saw its short interest decrease by seven percent to 32,321,800 from 34,768,300. - My expectation is for DNDN to rise back up to 15.21-16$ and then break out above 17.05 - This scenario would be cancelled if the price falls below 12 There is a resistance level that needs to be crossed to give rise to the next leg up. The buy trigger is at $14.66. If we can cross this level next week, the stock should continue its move up. Stay tuned !! ( click to enlarge ) MGIC Investment Corp (MTG) had another very productive day as we saw gains of over 5% and I believe it has more room to run. The short-term outlook remains positive for the stock. The stock finds an immediate resistance at 5.41 and support at 4.67 followed by 4.5 ( click to enlarge ) Garmin Ltd.(GRMN) made a 52-week high but gave back some gains. If it can close above $45.62, then expect more upside. The technical chart shows GRMN is on a strong bull market as the stock is trading above 50 day and 200 day moving with both moving average pointing upwards. I think the stock should continue to go up. ( click to enlarge ) Sequenom, Inc (SQNM) - The insider seems to be bullish about the company with numerous purchases from directors and officers. The most recent purchase was around end of last year with about 100.000 shares. As long as the support holds at $4.35, I don’t think its a problem to include this stock in your short to medium term portfolio. ( click to enlarge ) Mitcham Industries, Inc. (MIND) closed at $24.61 on Tuesday, up $1.87 for the day. The stock made a strong upside reversal. The technical chart above suggests that stock might find now resistance at $24.86. Only a close above this level would suggest further upside. Remain invested with a stop loss at $22.51. 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.
updated Feb 21, 2012
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