|
Some possible bounce plays to watch next week
 ( click to enlarge )The company on the spotlight today is XenoPort, Inc., a biopharmaceutical company focused on developing and commercializing a portfolio of internally discovered product candidates, which utilizes the body’s natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs. The stock on Friday surged 5% or 23 cents to $4.83 per share at two times average volume after the company announced that has received confirmation from its partner, Astellas Pharma Inc., that, following a meeting on December 2, 2011 in Japan, the drug evaluation committee of the Japanese Ministry of Health, Labor and Welfare ("MHLW") recommended approval of gabapentin enacarbil, which will be known by the trade name Regnite in Japan, for the treatment of Restless Legs Syndrome. This positive recommendation will be reviewed by the MHLW prior to its final decision on authorizing the marketing of Regnite in Japan for the treatment of Restless Legs Syndrome. The MHLW will issue a final notification to Astellas regarding its decision, which the Company expects to occur in the first quarter of 2012. Lets take look at the stock in more detail to see if this is the stock worth buying. XNPT is trading above its 13-day moving average and is approaching its 50-day moving average. A strong bullish trend is often established once shares cross the 50-day MA. The stock has witnessed phenomenal gains in valuation when volume enters. For example, in August shares of XNPT experienced a surge of over 38% in just 5 days !! So, with an influx of volume and light resistance above, the stock could make a solid upward move. There has been building support on shares of XNPT in the past few days with overall higher highs and higher lows, and I believe that from current levels which I believe are now trading at a deep discount from the past investors could witness a solid appreciation in value.  ( click to enlarge )Accuray Incorporated (NASDAQ:ARAY) close the week above its 50-day MA and has broken above its small consolidating range with rising volumes. MACD triggered a buy signal this week also moving slightly near the 0 line. The MACD looks bullish moving higher. The 20 DMA upward cross through the 50 DMA is bullish. The setup indicates that the stock has ample scope to move up.  ( click to enlarge )Novatel Wireless, Inc. (NASDAQ:NVTL) - The daily MACD triggered a Buy signal on Friday and the Histogram turned positive on the daily. The stock needs to take out resistance at the 3.25 area to continue higher. It needs more time to set up again. Keeping it on the list.  ( click to enlarge )TriQuint Semiconductor (NASDAQ:TQNT) nice follow through. From the technical chart MACD and KD both signal positive strength. Looking at the insider transaction I see one recent acquisition of 100,000 shares at a cost of $4.31 from the Director Steven Sharp showing the management is bullish of the company's outlook ( Yesterday I alerted my followers on twitter) . In the past twelve months, 2 other insiders purchased shares, in 5 transactions, for a total cost of $179,656 at an average of $4.73 per share.  ( click to enlarge )A closer look at the technical chart shows the stock broke out of a well defined descending channel formation dating back to November 14th on heavy volume. Poised to run higher. Next line of resistance $1.91 range. Furthermore, based upon watching the trading activity on Friday, I believe that the positive sentiment could be additional reason for investors to look for higher prices and confirmation of an upward trend reversal. I encourage everybody to subscribe my twitter and newsletter, so you can receive my trade ideas and stock news in real time. Other stocks to watch : New 52-week High stocks HD - HOME DEPOT INC KOG - KODIAK OIL & GAS CP M - FEDERATED DEPARTMENT IBM - INTERNATIONAL BUSINESS TSN - TYSON FOODS INC MCD - MCDONALDS CORP SE - SPECTRA ENERGY CORP V - VISA Inc TJX - TJX COMPANIES INC WYN - Wyndham Worldwide WI COST - Costco Wholesale Co FTI - FMC Technologies Inc. HUM - HUMANA INC FAST - Fastenal Company NSR - NEUSTAR INC OCR - OMNICARE INC VRSK - Verisk Analytics GRMN - Garmin Ltd SPPI - Spectrum Pharmaceutical IDIX - Idenix Pharm AKRX - Akorn, Inc. EXR - EXTRA SPACE STORAGES EPD - ENTERPRISE PRODUCTS GPC - GENUINE PARTS CO PETM - PETsMART, Inc. OKE - ONEOK INC MA - MASTERCARD INCORPORATION ROST - Ross Stores, Inc. OII - OCEANEERING INTL INC PAA - PLAINS ALL AMERICAN AWK - American Water Work ACGL - Arch Capital Group Ltd INT - WORLD FUEL SVCS CORP MDVN - Orion Acquisition C PCYC - Pharmacyclics ARG - AIRGAS INC FCN - FTI Consulting Inc CLB - CORE LABORATORIES N V DPZ - DOMINO'S PIZZA INC BGS - B&G Foods Inc MDF - Metropolitan Health GPI - GROUP I AUTOMOTIVE INC LAD - LITHIA MOTORS INC GWW - WW Grainger Inc TASR - TASER International YRCWD - Yellow Roadway FICO - Fair Isaac Inc Unusual Volume RIMM - Research in Motion MDT - MEDTRONIC INC ORI - OLD REPUBLIC INTL CORP KIWB - Magnitude Information DISH - Dish Network A CBIS - National Healthcare HRB - BLOCK H & R INC CFW - CANO PETROLEUM INC BIG - Big Lots Inc SONS - Sonus Networks, Inc. RBY - RUBICON MINERALS CP FTWR - FiberTower Corp UGI - U G I CORP HLDG CO FIG - Fortress Investment GIL - GILDAN ACTIVEWEAR INC PVH - PVH Corp SIRG - Sierra Resource Group ZUMZ - ZUMIEZ INCTLB - TALBOTS INC BLVT - Bulova Technologies KT - KOREA TELECOM CORP NM - Intl Shipping Entr HRL - HORMEL FOODS CORP ATO - ATMOS ENERGY CORP FROI - Fero Industries Inc GRPR - Grid Petroleum Corp VISN - VisionChina Media Inc AGUNF - ARCTIC GLACIER TR UT SUSS - Susser Holdings Corp NSR - NEUSTAR INC ZZ - SEALY CORPORATION ALEX - Alexander & Baldwin ACYD - AMERICAN COMMUNITY URBF - Urban Barns Foods IVAN - Ivanhoe Energy Inc UVV - UNIVERSAL CORP SNGX - DOR BioPharma IncZOOM - Zoom Telephonics, Inc. TRGP - Targa Resources Corp MITL - Mitel Networks AEN - Pipex Pharmaceutical FAC - LIBERTE INVESTORS DE TEA - Teavana Holdings Inc CLGL - California Gold Corp BRC - BRADY CORP ABM - A B M INDUSTRIES INC BMGP - IBISES INTL INC NNVC - NANOVIRICIDES INC WABC - Westamerica Bancorp YNGFF - Yukon-Nevada Gold Corp ASTX - SuperGen, Inc SBRCY - SBERBANK RUSSIA MAMM - Mammatech Corp INO - Inovio Pharm Inc SRCH - Phage Genomics Inc 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. Thanks for visiting AC Investor Blog. AC  |
