The chart of Universal Display Corporation (NASDAQ:OLED) caught my eye yesterday. On the technical chart, we can quickly see that the stock is forming an ascending formation waiting to be broken. A move above the triangle (38.1 levels) can trigger a sharp upside move towards 40. The money seems to be flowing into the stock as indicated by the technical indicator OBV. OLED is also a short squeeze candidate, with a short float at 25% (equivalent to 7 days of average volume). Since the trend prior was bullish, the breakout is likely to be to the upside.
DryShips Inc. (NASDAQ:DRYS) broke out on volume yesterday. The stock has been is on a remarkable run since July and it does not looks like the trend will change soon.
Rite Aid Corporation (NYSE:RAD) For a buy entry, the stock needs to take out 3.62 in order to convince bullish buyers at these levels.
Vale SA (NYSE:VALE) Starting to look strong again. Next buy area when clears the 16.09 level on heavy volume. The MACD has crossed above its signal and reversed its falling trend. RSI is moving up and CMF is positive.
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.