Stocks to watch: Nokia Corporation, Hub Group, Savient Pharmaceuticals, Zynga Inc, Synacor


Follow this company

Companies Mentioned

NYSE:NOK / NASDAQ:ZNGA
11/29/2012 [ACCESSWIRE]

NEW YORK -- US Markets have held their session highs this morning as GDP is revised higher however big concerns still weigh on investors and the battle between technical's and fundamentals is playing out.

On Wednesday the S&P 500 broke through the every important Fibonacci retracement line at 1,395 early in the day however found support from the 200 day simple moving average and bounced right back into positive territory.

Today the S&P500 rallied early based on positive news on the nation's economic growth being reportedly better than expected for the 3rd Quarter however is struggling to break through its 50 day moving average and horizontal resistance levels at 1,422.

 

 

To take learn how to identify these key support and resistance areas to help your trade you can get instant access to an online course here https://tv966.infusionsoft.com/go/MSTnow-yh/sl63/

 

 

However it seems fairly obvious that there are powers at work here pushing the market up with volume to back them up. After reviewing hundreds of stocks over the last few hours there are also many stocks that look decidedly bullish.

A lot of stocks such as NTE have already had big flag formation style rallies and could be gearing up for another big leap to the upside if market direction continues in their favor.

 

Flag formation can be extremely profitable patterns and easy to identify if you know what to look for - Click here to access the complimentary course on flag formations.

 

Other stocks such as Ameren Corp(NYSE:AEE), Zynga Inc(NASDAQ:ZNGA), Synacor Inc(NASDAQ:SYNC) and Constant Contact, Inc.(NASDAQ:CTCT) (just to name a few) are just beginning their turn around recovery attempt and are setting up for potentially terrific trading opportunities if momentum continues up also. 

Patterns like this are usually identified as saucer trades or cup and handles and benefit excellently from a recovering market but can quickly reverse if momentum in the up move is lost.

 

To learn more about how to identify these types of momentum trades properly click here. https://tv966.infusionsoft.com/go/MSTnow-yh/sl63/

Keep in mind all it takes is for the right words to be said from the right politician or the wrong headlines adversely to send the market sharply in either direction so this makes us feel extra cautious and to search for trades where there is terrific risk reward and as many technical factors supporting the trade as possible.

So as we all know. Money is usually not made in the market by trading what you feel but what you see. Right now I see a lot of potential longs versus shorts. However we will still be looking at tight risk discipline on any trades we look at while the Index sits on this precarious perch.

Hub Group(NASDAQ:HUBG) appears to be trading right into its 200 day Moving average resistance at the $33.00 mark. After a significant rally over the last couple of weeks HUBG’s steam seems to of slowed today with only 127,408 volume reported so far today as compared to 501,500 yesterday. This could indicate a potential pull back to lower levels and the short players may be eyeing this up. If however HUBG was able to break the 33.00 resistance area it could actually be a candidate for playing out the next leg of an inverse Head and Shoulders pattern which many technical traders would suggest could see it rallying towards the 36.50 area.

 

Want to learn about different charting patterns and how to identify them – Click here

Savient Pharmaceuticals INC(NASDAQ:SVNT) is also likely to be under the microscope for many traders after its impressive rally to a high of $2.95 on September 24th , 2012 saw it to mostly come apart closing at  1.15 yesterday. SVNT now appears to be stuck in a tight trading range between 1.10 and 1.20 and could be an interesting trade from a technical basis if it were to be able to break the 1.20 resistance with some conviction. Watching for a break on volume also can be useful to confirm potential opportunities such as this.

 

To learn more about using technical analysis to identify trading opportunities take our complimentary trading workshop – Click here to register https://tv966.infusionsoft.com/go/MSTnow-yh/sl63/

 

Nokia Corporation (ADR)(NYSE:NOK) is also appearing to be on its way to a potential flag formation rally. If this flag played out you can often see moves of 20+ % in very short time frames. Nokia already gapped up this morning as it looking for the extra momentum to continue its break if the S&P 500 can overcome its technical resistance levels.

It is important to remember that all of the thoughts and commentary discussed here and throughout all our forums are simply reflections of our own personal technical approach to the market and should not be constituted as financial advice.

 About Acorn Wealth Corp: 

Acorn Wealth Corp. is an educational company specializing in education surrounding the trading of publicly listed securities. Acorn Wealth Corp. is not a licensed securities dealer in any jurisdiction. This information presented is for educational purposes only and does not constitute an offering of securities, and should not be relied upon for making your investment decisions. The information presented herein was obtained from sources believed to be reliable but is not guaranteed, is not conclusive, and should not be relied upon as the sole source of information/opinion for making an investment decision. Investing in publicly traded securities is highly risky and the securities and strategies discussed herein are not guaranteed or insured, and their value may change due to economic factors and market trends.  The information contained in this commentary is not meant to constitute legal, investment, or tax advice. Acorn Wealth Corporation does not offer investment, legal, investment, or tax advice. Past returns and successes displayed herein do not guarantee future results.

Contacts:
Acorn Wealth Corp
Email: info@acornwealthcorp.com
COMMENTS

Leave a comment...
 * 

Your Name
 *