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Gary Johnson L
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  • 2/20: ZNGA, GEVO, IDCC, APP, DDD, SPWR 2 comments
    Feb 20, 2013 1:10 AM | about stocks: ZNGA, GEVO, IDCC, APP, DDD, SPWR
    2/20: ZNGA, GEVO, IDCC, APP, DDD, SPWR

    Labels: APP, DDD, GEVO, IDCC, SPWR, ZNGA

    (click to enlarge)
    American Apparel, Inc. (AMEX: APP) is not showing a good picture here. Last time it had a bearish MACD cross-below, APP got beaten up from $1.700 to as low as $0.834. If you take a look at previous MACD crossover, MACD is actually a pretty accurate indicator of both the upcoming uptrend and downtrend. APP is under a critical moment right now as it is trading around the centerline of Bollinger Band. I think a close below the centerline of Bband would be enough confirmation for a coming downtrend.

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    Gevo Inc. (NASDAQ: GEVO) has been trading within the upper half of Bband since the beginning of 2013. GEVO has pulled back to $2.37 after touching $2.75 where the last gap in September ends. I remain bullish on GEVO until it crosses below $2.37.

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    3D Systems Corp. (NYSE: DDD) is testifying the validity of the support from MA(50). Unless the stock closes below MA(50) significantly, I remain bullish on DDD.

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    InterDigital Inc. (NASDAQ: IDCC) As I have mentioned on Feb 13, IDCC usually jumps right back to upper Bband after touching lower one. IDCC is on its way there since last week and now almost there. There is a bullish MACD crossover today and I suspect there will be a big move very soon. I long IDCC since $43.00 and stop just below $42.50

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    Zynga Inc. (NASDAQ: ZNGA) If we neglect the outlier earlier last week, ZNGA seems to be forming a flag pattern with decreasing volume. RSI turned around and is pointing up now. Watch for a break above $3.3 as a signal for continuation of uptrend. I target $4.2 after breakout. If you long ZNGA right now, consider a stop below $3.0 or buying put options.

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    SunPower Corp. (NASDAQ: SPWR) has jumped more than 33% since first signaled it as a great buying opportunity. It was trading at $9.91 when I mentioned it last week. Again, I have a target of $18.00. The picture is getting even better as volume confirms the big move on price. A bullback to $12.10 would be a very sweet level to go long and add positions.

    Disclosure: I am long ZNGA, DDD, IDCC, SPWR.

    Themes: Technical Analysis Stocks: ZNGA, GEVO, IDCC, APP, DDD, SPWR
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Comments (2)
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  • Hi Gary- Now that GEVO has dropped well below 2.37, would one hold onto it for a few weeks, hoping for a rebound, or just bail all together. Just checked it after being gone for two days- ow!.
    20 Feb 2013, 06:43 PM Reply Like
  • Author’s reply » So I realized GEVO broke below. I tweeted on Twitter a sell signal. But you can wait to see if lower Bband yield support
    22 Feb 2013, 02:46 AM Reply Like
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