( click to enlarge ) Dendreon Corporation (DNDN) shares are clearly under accumulation as traders become familiar with this company's potential. The accumulation line continues to scale new peaks as somebody out there gets extra-hungry for DNDN at these levels. There are several indications I see which suggest a near-term bottom, including large positive divergences on MACD in daily. A break above 11.03 on a close basis should be seen as a serious threat for the stock to test the 200 DMA at 13.19. Until that happens traders will want to be on high-alert to the possibility of a bullish reversal. Keep DNDN on your screen for Tuesday’s trading session. ( click to enlarge ) Gulf Resources, Inc.(GURE) regained the 20-day average for the first time in over two months. STO bounced off the edge of oversold and is now back on the upswing. MACD just crossed above signal, giving the bulls the signal they wanted. GURE has momentum back on its side. ( click to enlarge ) Brinker International, Inc. (EAT) had a strong move today, as the stock set new 52-week highs. The stock hit a high of $31.19, which is resistance for the follow through move. You should watch this stock closely on Tuesday. ( click to enlarge ) Fonar Corporation (FONR) made a new 52 week high today closing at $6.40 on heavy volume. The stock hit a high of $6.44, which is now resistance for Tuesday’s continuation move. If the stock can break through resistance, we should see another strong upside move. FONR will move very quickly, so watch the stock closely on Tuesday.
updated Apr 23, 2012
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