( click to enlarge ) Elan Corporation, plc (ADR) (ELN) looks really strong here, broke and closed above 50 day MA. Strong volume today ! On the daily chart, we can see a few technical signals suggesting this swing higher in the short-term should continue a few more days. First, the MACD is displaying a new bullish crossover and a positive move. At the same time, we see that the daily stochastics are showing positive momentum from oversold levels, which should reinforce a move higher if near-term resistance at $14.58 is taken out. Finally, The RSI is starting to bounce back from oversold territory. Target is $15-15.25 with a tight stop under the 50 day MA. ( click to enlarge ) Bio stocks such as Complete Genomics, Inc. (GNOM) were on fire today. I featured this stock on Thursday and today it gained close to 29% !! Volume was tremendous today and I see more upside here. Easy to manage with a stop at the 50 day MA. ( click to enlarge ) XenoPort, Inc. (XNPT) looks great here flagging nicely on low volume, tried to break out today but failed. Volume patterns good, keep an eye on it the next few days. ( click to enlarge ) The entire Education sector was on fire today led by Career Education Corp. (CECO). The stock closed above the psychological level of 7 and near the 50 day moving average. A close above this level would warrant liquidation of short positions. I believe that price may continue its rally next week. ( click to enlarge ) Zalicus Inc (ZLCS) looks good here with plenty of room to run to the next resistance at $1.01
( click to enlarge ) eBay Inc (EBAY) bounced nicely off the 50 day MA this week. The stock should test the recent highs and possible new highs in the weeks ahead. ( click to enlarge ) Zynga Inc (ZNGA) - No signs of reversal yet. If you are long , stop should be the recent swing low. Short term investors are advised to avoid fresh long positions at this point. Only a close above $7.25 will start negating the bearish forces. 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 May 25, 2012
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