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Gary Johnson L
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  • Sept 27: IDCC, FB, LGF 0 comments
    Sep 28, 2012 11:35 PM | about stocks: IDCC, LGF, FB, SSNLF, AAPL, BBRY, QUCPF, MDY

    Sept 27: IDCC, FB, LGF

    (click to enlarge)

    InterDigital, Inc (NASDAQ: IDCC) I want to cover on IDCC again because I am highly bullish on this stock. There is a run with significantly higher volume after the announcement that it is added to S&P400. Chaikin Money Flow Index turned positive. MACD is about to have a positive crossover, 50day MA is about to crossed 200day MA from below, which some consider a golden cross. The price touches upper band of B-Band again. On Balance Volume confirms the move. RSI is making higher lows and hold well above 50.

    Fundamentally, stock managers, ETFs will need to purchase a great amount of the stock to balance/track the index (SP400).

    According to Bloomberg, IDCC major customers include Samsung (37% of rev), RIMM (17%), HTC Corp (11%), AAPL (4.38%), Hitachi (3.48%), Quanta Computer (2.80%) and Ericsson (1%). Focus: SAMSUNG!!

    (click to enlarge)

    Liongate Entertainment Corp (NYSE:LGF) We are looking at a longer term chart here, a weekly candlestick. After the bloom due to strong box office of Hunger Game in March, LGF has been forming a "cup and handle" chart with a neckline of $16. However, On Balance Volume is not confirming the price. However, breakout of $16 would make the stock a good candidate to trade with.

    (click to enlarge)

    Facebook, Inc (NASDAQ: FB) It is showing a textbook-so-called "possible" head and shoulder pattern with a neckline around $23.5 here. While MACD remains positive and OBV confirming, the price has found supper from 20day SMA after double the upper band of Bollinger band. With the fact that it is still trading below 50day SMA and the hard-to-prove fundamentals and business models of Facebook, I would suggest trading it after the breakout. Without a breakout, the pattern, at least "possible" pattern, means nothing at all.

    You may also visit my new Blog:

    Disclosure: I am long IDCC, S.

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