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6 Swing Trade Setups to Watch on Wednesday May 30th

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Shares of Skyworks Solutions Inc (NASDAQ:SWKS) edged higher on stronger than usual volume. The stock price closed above the 50-day moving average of $26.33. As long as prices remain above the moving average key indicator, traders will view this development as a sign of strength. In addition, today's stock price for SWKS ranged between $25.81 and $27. Based on the pivot points the current support and resistance levels for Skyworks Solutions are $26.33 and $29.01
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Bank of America Corp (NYSE:BAC) New bullish MACD cross has occurred on the daily chart. The stock has made higher lows on the daily chart showing signs of possible reversal trend. Stoploss should be placed just below 7, the immediate target is 7.95.
( click to enlarge ) FormFactor, Inc. (NASDAQ:FORMclimbs in after-hours after the company raised its second quarter revenue outlook, citing customer demand across the DRAM and Flash memory segments. The company said it now expects second quarter revenue to be $50 million to $54 million, compared to its prior guidance of $43 million to $47 million. Short-term levels to watch tomorrow $6.34 and then $6.75.
( click to enlarge ) Is tomorrow the day for Career Education Corp. (NASDAQ:CECO) ? Indicators are calling for a Powerful Breakout. The MACD just gave a crossover buy signal and the RSI is rising. This should be a good entry point to take a long position. I'll maintain long exposure so long as that stock stays above $6.22. CECO also has about 4,774,300 shares outstanding sold short, which will produce more buying pressure as shorts run to cover, if and when the stock can break and close above its 50 day located at $7,23. Keep the stock on your radar since it could make a solid move upwards.  ( click to enlarge ) On the daily, the chart shows a bearish picture for Zynga Inc (NASDAQ:ZNGA) stock with MACD and KD showing weak signal as MACD is below 0 and %K line is dropping below %D line. Although the Stochastic is clearly oversold, we all know that an oversold indicator, especially the Stochastic within a bearish probability can be misleading. The stock has a strong support in the psychological level of $6, but any close below this level could start a new sell off.    ( click to enlarge ) VirnetX Holding Corporation (NYSEAMEX:VHC) had a very nice day today (+10%) as it broke out from a nice bull flag formation with high volume. I want to see more follow through from this stock tomorrow.  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
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