Charts on Watch for Wednesday June 06

Posted on June 05, 2012 at 17:20 PM EDT

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RF Micro Devices, Inc. (NASDAQ:RFMD) I'd like to see this close over 4.19 before getting involved.

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eBay Inc (NASDAQ:EBAY) - The 50-Day MA at 38.81 continues to act as a strong support in the near term and big sell-off could be seen only if the stock trades below 38.

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Akorn, Inc. (NASDAQ:AKRX) has proven its bullishness. In last trading session, the stock has given a breakout by closing above $14 price level, which has proved as a strong resistance in past trading sessions.

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Las Vegas Sands Corp. (NYSE:LVS) is on High Alert for Wednesday as we saw a strong bounce today. I'm not yet sure if a significant bottom around 41 is in place. First positive confirmation, will be obtained on a move above 45.66 and strong second confirmation is obtained on move above 48.68. Unless these levels are taken out, the bias remains negative. Let's keep an eye on it.

( click to enlarge ) InterDigital, Inc. (NASDAQ:IDCC) Put a nice reversal candle today. The momentum indicators are attempting to turn up from oversold levels. Will watch tomorrow for continuation. I have been saying that the stock is attractive for awhile now and I still believe so. InterDigital is becoming increasingly attractive for potential buyers and long-term investors. If you buy IDCC you have to be patient. During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.
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

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