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Stock Trade Ideas for Thursday June 21

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) remains one of the hottest stocks on Wall Street right now making all time highs almost every day. The stock is trading back over all three major moving averages. I like the stock as long as it can continue to close at or over $8. Pullbacks to the 10-day moving average should be a great buying opportunity for a trade. However, I would like to point out that the technical indicators are extremely overbought here, with RSI at 89 and stochastic at 93.
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Zynga Inc (NASDAQ:ZNGA) continues to close below the 20 and 50 day moving averages which is bearish for the short term. Support at $5.51 must hold or I think the stock could fall below $5 again. I plan to buy a long position when the stock closes back above the 20-day moving average on heavy volume. This would be a sign of strength in the stock.
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Camelot Information Systems Inc (NYSE:CIS) - Nice runner from the buy list yesterday. The stock  closed right above the 50-day moving average located at $2.54. With the 10-day moving average ( $2.25 ) trending higher right behind the 50 -day the stock should have nice support right here. Strong candle may stop at 2.84, hold.
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Sounds like SkyWest, Inc. (NASDAQ:SKYW) is gaining some momentum again. The stock has made a strong bounce off of the lows that were posted earlier this month with high volume and continues to trade over the 10-day moving average, which is a positive sign. The technical daily chart shows that MACD is rising in negative territory, while the RSI is also gaining strength. Next resistance is located at $7.15 while there is some nice support around $6.5. If a proper breakout happens at 7.15 we can see a target of 7.57
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A move past $6.75 would be a strong indicator of a further uptrend in FormFactor, Inc. (NASDAQ:FORM). Once the stock breaks through resistance, we should see strong volume as the stock will breakout and move higher. The money seems to be flowing into the stock as indicated by the On Balance Volume.Keep watching the stock.

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.

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