( click to enlarge )The stock on the spotlight today is InterDigital, Inc. (NASDAQ:IDCC). The stock surged more than 14% or $3.88 to 31.88 per share at six times average volume after court rules Nokia violated its patents. I alerted my twitter followers at $27.50 this morning before the spike. From a technical standpoint the stock broke an important resistance at $30 on heavy volume. This means there is more upside. The decline over the last few weeks occurred on lower volume and the stock is firming above its 50-day moving average. The technical chart shows the stock is now back to uptrend and with %K line above %D line and RSI above 60 we may see more upside. In addition, the on balance volume is increasing, this clearly shows that smart money is moving into the stock. The share price is likely to move to the target zone of the 34-35 range. For the long term the stock should still continue to go up.
( click to enlarge )D.R. Horton, Inc. (NYSE:DHI) - The 19 area has proven to be a strong resistance for the stock and a breakout above this region is bullish. Over the last sessions the stock has failed to move higher and closed today just above the major support level of 17.22 ( 50-day MA ). If the stock breaks below this level, the downside target is roughly $15.50.
( click to enlarge )First Solar (NASDAQ: FSLR) reported earnings after the close and the market loved what they saw. The company reported $1.27 earnings per share for the quarter beating the analysts consensus estimate of $0.92 by $0.35. First Solar’s revenue was up 79.5 percent compared to the same quarter last year. FSLR is trading up after hours and I expect it to gap open on Thursday. I'm using the May 22th high of $16.42 as resistance.
( click to enlarge )FormFactor (NASDAQ: FORM) also posted its quarterly earnings results today. The company reported ( $0.08 ) earnings per share for the quarter, beating the analysts’ consensus estimate of ( $0.13 ) by $0.05. FormFactor’s revenue was up 17.6% compared to the same quarter last year. The stock has been trading within a rising channel since December 2011 and gives traders great exit and entry levels. I'm curious to see how it reacts tomorrow after the strong results.
( click to enlarge )Despite the general market's weakness Zalicus Inc (NASDAQ:ZLCS) made an impressive turnaround and rallied almost 6% to close the day at $1.12. The next visible resistance is at $1.25-1.27 area. The MACD seems to be crossing up indicating bullish swing.
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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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