6 High Momentum Stocks To Watch Next Week

Antonio Costa
updated | Author's Website

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NVIDIA Corporation (NASDAQ:NVDA) was a stock I alerted to my subscribers ( blog / twitter ) last week as a bottom trade. For those who got in when I alerted, congratulations on your 8% profit. Looking at the chart, the bounce continues and the stock has now cleared its 200-day moving average and the $13 level. This momentum could push this stock much higher from here, so keep it on the radar next week.

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Short covering in some of the larger coal stocks produced some strong gains and the Arch Coal Inc (NYSE:ACI) stock broke through resistance at $7.50 and closed above its 200-day moving average for the first time since May 2011. This could be a significant turning point.

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The rally in AXT Inc (NASDAQ:AXTI) continued and shares broke out past resistance at $3.05 on expanding volume and its early November high. My trigger to buy more shares was hit this morning. The On Balance Volume indicator made a new higher high this week, signaling interest in accumulating shares by investors. Momentum picking up with MACD climbing and RSI rising. Look for a quick run to $3.30 then on to $3.6. The technical chart shows buyers are back. 

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Bullish reversal alert Zynga Inc (ZNGA). The trading in the stock over the last couple of days has produced a bullish reversal pattern. The chart above shows new rally has just begun as %K line has just crossed on top over %D line. In addition, MACD Crossed up. Fast line crossed the slow line from down to up. The stock has now a resistance at $2.73. If the stock is able to cross it, then it might go to $3.

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Dendreon Corporation (NASDAQ:DNDN) has completed what looks like a Rounded Bottom  pattern and it’s also accompanied by a break above the 100-day SMA which in itself is an indicator of the strengthening medium term trend. Additionally, the pattern’s resistance level at $5.5 was broken along with a surge in volume (OBV indicator). Bulls have the near-term technical advantage and gained fresh upside momentum this week. At this point, the upside momentum still intact. I like that the stock finished strong today and expect to see a continuation move on Monday.

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Green Dot Corporation (GDOT) nice bounce from its 50-day moving average. Looks ready to test the recent highs. OBV is also moving upwards which means that big money is moving into the stock slowly.

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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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AC

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