( click to enlarge ) Today's move created a number of technical analysis buy signals. The stock was consolidating between 30&31.61 for last 1 month and made a breakout of its previous high on very high volumes. The chart also shows a bullish MACD crossover, the RSI is moving up and above its 50% level. Microsoft Corporation (MSFT) stock is now testing the resistance level. Look for a break above the 32.95 level to enter longs for a target move to 35. If the stock does not breakout and pullsback look for an entry near the 50 DMA ( Blue line). ( click to enlarge ) Towerstream Corporation (TWER) The 50 day MA on daily is still acting as support. Could be a high flyer on breakout, look for break above 4.80 to enter longs. ( click to enlarge ) Under Armour Inc (UA) After drifting for weeks, the stock finally broke out of a consolidation today and reached a new 52-week high. Today’s high was $102,86, which is resistance for the follow through move. If the stock can break through this level, expect to see heavy volume drive the stock higher. ( click to enlarge ) Amazon.com, Inc. (AMZN) The stock is now trapped between 190 and 195 levels. Long positions can be considered with a stop loss of 184.90 on daily closing basis. Targets are 200 and 206. Watch to see what it does here. ( click to enlarge ) There has been a persistent decline in First Solar, Inc. (FSLR) shares since mid of February tempered with short-lived and unconvincing rallies. From the technical chart the short-term trend is still weak as the stock is still below its 50 and 200-day moving average. The stock needs to close above $22.89 in order to alleviate the negative near term view. Next support is at $20.60, followed by $20.02. ( click to enlarge ) Dendreon Corporation (DNDN) had another very productive day as we saw gains of over 3% and I believe it has more room to run. The short-term outlook remains positive for the stock. DNDN finds an immediate resistance at 10.74 and support at 9.88 followed by 9,72.
updated Apr 20, 2012
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