( click to enlarge )MEI Pharma Inc (NASDAQ:MEIP) The downtrend line resistance has been broken on the daily technical chart. The price can move up to $2.40/44 in the short-term. Indicators are strong and the MACD recently produced a new buy signal. Should breakout hard to upside when it crosses over $2.44 (GAP). Long setup.
( click to enlarge )Gogo Inc (NASDAQ:GOGO) looks poised to break out of a falling wedge pattern and MACD is about to climb above the signal line. If it clears resistance the move may be powerful.
( click to enlarge )FireEye Inc (NASDAQ:FEYE) has been in a major corrective phase in the recent weeks. The downtrend that commenced in late June appears to have been completed at the latest low of $41.77. The MACD on the daily chart is starting to give a new buy signal and the share price could move to the short-term target of $45.20-$45.84. This view would be valid as long as the stock holds above $41. Place a stop-loss at this level for long positions.
( click to enlarge )BlackBerry Ltd (NASDAQ:BBRY) From a technical standpoint, there are some signs of a possible bounce due to the positive divergences of MACD and CMF which often leads to short covering. Let’s see whether the stock can gather enough momentum to break and close above the 20EMA now located at 7.68.
( click to enlarge )FreeSeas Inc (NASDAQ:FREE) Looks about ready to run here. Technicals are improving. The price movement in the last couple of days indicates that the stock has formed a short-term bottom around 50c level. The stock needs to break Tuesday’s high of 56c to expect a strong rally at this point.
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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