( click to enlarge )Renren Inc (NYSE:RENN) has been forming a large pennant pattern on the daily chart over the last few weeks, popped on good volume and retreated on lower volume. It looks like it may be starting to gain some momentum again and should make a move soon. The Pennant is a continuation pattern, that is marked by a small consolidation before resumption of the previous trend. In addition, the MACD Fast Line is about to cross up through the Slow Line, Bullish. Let's keep an eye on her as i think momentum will pick up.
( click to enlarge )Juniper Networks, Inc. (NYSE:JNPR) - Looks about ready to run here. Over 22.9, next stop 25 then the run to $29.
( click to enlarge )Shares of Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) closed the day gaining more than 5% to a new historic mark for stock at $8.42, near the highs of the day at $8.77. The stock has been on one of the most amazing runs of the past two months. I'll be watching the stock on Friday, looking for a follow through move. As long as the stock stay above $6.65, the bullish scenario still intact.
( click to enlarge )Dendreon Corporation (NASDAQ:DNDN) breaks above the 20-day MA for the first time since late February, signifying that a new short term uptrend is in place. Further rise is expected to $11 zone. Indicators are also showing signs of recovery. Near term support is now located at $9.95, as long as this level holds, I'd expect the uptrend to continue. Long-term investors may hold with a stop at $9.05. Keep DNDN in your watchlist.
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.
Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.
Thanks for visiting AC Investor Blog.
AC
