5 Stocks on the Move

Posted on January 16, 2011 at 7:49 pm

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I think Rambus Inc. (NASDAQ:RMBS) is setting up for a strong move, probably into the twenty two to twenty five dollar area at first. The stock has been under accumulation for a couple days now and today it broke through two major resistance levels. The momentum is back in this stock. The next major resistance level is around $22.80… so a lot more room on the upside. The volume on accumulation days consistently exceeded the volume on distribution days. That’s always a bullish sign. In addition, the technical chart above shows the stock is in a bull market as MACD is on top of signal line, OBV is moving up and Money Flow-Index still climbing both indicating buy. The Stochastic Oscillator is also registering a strong bullish signal as the %K is above the %D. The stock is also on top of 50 day and 200 day moving average showing the stock is in bull market. The stock price can head towards the $22.50/22.80 zone. If this zone is surpassed, getting to $25 would be a possibility. I would not be suprised to see a day with a good sized opening gap up. I hope I am right ……..watch the stock closely next week.

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Popular, Inc. (NASDAQ:BPOP) had a strong day as the stock closed up 9 cents on heavy volume. Today’s high of $3.38 is now resistance for the continuation move that should occur very soon. I’m a buyer of BPOP once it breaks resistance, as I expect to see a strong upside move.

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The technical chart above, shows a breakout. MBIA Inc. (NYSE:MBI) broke above resistance on Tuesday and hasn’t looked back since. Watch this stock to see if resistance become support now.

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A123 Systems, Inc. (NASDAQ:AONE) – The technical daily chart shows a continuation of the trend with MACD on top of 0 and RSI above its 50% level. Once the stock breaks above Thursday’s high of $10.99, get ready to enter the trade on the continuation move.