( click to enlarge ) Hello Folks !! I'm back from my Easter vacations and ready to keep blogging for your reading :D During today's trading session I was scanning some charts and I stumbled upon Las Vegas Sands Corp. (LVS), whose stock has shown remarkable strength over the last four months. The stock made a new 52 week high this afternoon and was one of the big winners on Monday, closing up $1.86 on the day. LVS traded heavy volume as it hit a high of $60.85. This high is resistance for Tuesday’s continuation move. The technical chart still showing that the stock is in a bull market rally as MACD is on top of signal line and %K line is on top of %D line. In addition the medium term trend is also bullish as the stock is above 50-day and 200-day moving averages with both moving averages going up. The stock needs to stay above the 20-day MA to keep the short-term outlook positive. ( click to enlarge ) Molycorp, Inc.(MCP) looks to be setting up for an upside move, as the stock has held up well the past few days. MCP stock is in the top of a short-term trading range. Resistance is $35.6. At this stage it is definitely a wait and see if the resistance will be easily taken out by the bulls. Stay tuned. ( click to enlarge ) FormFactor, Inc. (FORM) - Today, DA Davidson initiated the stock with a "Buy" rating and a price target of $12. Technically the stock is holding up nicely above the key support of $5 in this weak market environment. It has a good base which can be used as a stop loss for long position. On the upper side, the move is likely to accelerate above $5.5. Short-term investors can hold the stock as long as it trades above $5.
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( click to enlarge ) Wynn Resorts, Limited (WYNN) - The daily chart shows a bullish falling wedge on low volume. Watch for a break of 125-126 that could mark the beginning of the next uptrend. We just need the volume to pick up. 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 Apr 09, 2012
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