Gary Johnson L's  Instablog

Labels: CHK, FB, JBLU, NVDA, ZNGA

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Facebook, Inc. (NASDAQ: FB) Despite the fall yesterday, Facebook is still closing above its uptrend since Nov12. Stop slightly below $30.00.

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Chesapeake Energy Corp. (NYSE: CHK) has jumped more than 20% since the beginning of 2013. Now, CHK is forming a flag pattern on chart with decreasing volume. If there is a breakout above $19.00, I would have a short term target of $21.55.

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After NVDIA Corp. (NASDAQ: NVDA) broke below its short term uptrend in the first week of 2013, it has bounced back to $12.690 level and testify its break below. After yesterday's drop (2.14%), it seems that a downtrend has begun. I would not be a bad idea to short NVDA and put a stop at $12.70.

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JetBlues Airways Corp. (NASDAQ: JBLU) has dropped 2.65% with significant volume after reporting a decrease in profit, mostly due to Hurricane Sandy. Bearish MACD crossover. The price is leaving the upper Bband while Bbands consolidating. I believe JBLU would at least drop until touching $5.550.

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Zynga, Inc. (NASDAQ: ZNGA) I really don't know what to say about ZNGA. I did not expect such a huge drop today after yesterday's jump. However, the good news is:
1) Today's volume is less than yesterday. So, there are fewer profit-takers than speculators jumping on the boat yesterday
2) Today's low is higher than yesterday's one and today's higher is lower than yesterday's one. So, there could be a flag pattern coming up.
3) RSI did not reach overbought level yesterday

Even though I still long ZNGA, my outlook for ZNGA is very mixed. I have put a stop at $2.40 just to prevent extensive loss from this volatile stock.

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Thank you for visiting,

Gary Investing Blog

Disclosure: I am long FB, ZNGA.

Additional disclosure: I am short AAPL