Somaxon Pharmaceutical (SOMX: 3.21 0.00 0.00%) looks to have found a bottom and is trying to make a move on the upside. Shares of Somaxon Pharmaceuticals soared 10% or 0.29 cents to $3.21 per share on optimism over its recently approved insomnia drug, Silenor. Despite the weak signal from MACD as the technical indicator and signal line are below 0, the investors buy on bounce back rally as %K line has rose above %D line. Nevertheless, the medium-term trend is still weak as the stock has been trading below 50-dma and 200-dma with 50-day moving average going downward showing bearish signal. From a technical perspective, at this stage it’s better to stay at the sideline and see how the stock react for the next few days as the stock has approached the pressure line of 13-day moving averageI’m keeping Motorola (MOT: 6.99 0.00 0.00%) on my list and I expect to see a move in the stock any day now. Tech stocks had a very nice move today and we could see continuation on Tuesday. Motorola is setting up to break its 200-day moving average at $7.50. The volume has been picking up, so the move should be imminent.
OceanFreight (OCNFD: 0.7825 0.00 0.00%) has recently hit a 52-week low and I think this is where we could expect it to take a turn and move higher. The selling frenzy has given way to light buying volume. The technical indicator MACD, while still bearish, has slowed its downside momentum which could be a prelude to a reversal in trend. In addition, the stochastics are deeply oversold which could add some strength to any gains. I’m looking to buy the stock above $0.80. If the stock picks up some volume, we could see a nice move back up to the $.85-$.90 range. Make sure to keep this stock on your radar this week.
Earnings Announcements for Tuesday
AAR Corp. - AIR
ASA LIMITED - ASA
BIRKS & MAYORS INC - BMJ
Carver Bancorp - CARV
Emmis Communications - EMMS
Euro Tech Holdings Co Ltd - CLWT
Fastenal - FAST
Hi-Tech Pharmacal - HITK
Intel Corporation - INTC
NORWOOD ABBEY LTD - NAL.AX
NovaGold Resources Inc. - NG
Ocean Power Technologies, Inc. - OPTT
Rocky Mountain Chocolate Factory - RMCF
Stanley, Inc. - SXE
Trinity Biotech - TRIB
Yum! Brands, Inc. - YUM
List of stocks whose MACD Crossed above 0
BSX - BOSTON SCIENTIFIC CORP
AXP - AMERICAN EXPRESS CO
CAT - Caterpillar Inc
ADM - ARCHER DANIELS MIDL
STP - SUNTECH POWER HOLDINGS
COF - CAPITAL ONE FNCL CORP
NVE - SIERRA PACIFIC RESOURCES
MDR - MCDERMOTT INTL INC
MMM - 3M, MINNESOTA MNG
NI - NISOURCE INC
CTSH - Cognizant Technologies
ING - Ing Groep NV ADR
CNP - CenterPoint Energy Inc
CL - COLGATE-PALMOLIVE C
EL - ESTEE LAUDER COMPANIES
SE - SPECTRA ENERGY CORP
UN - UNILEVER N V
VTR - Ventas Inc
CVC - CABLEVISION SYSTEMS
TE - TECO ENERGY INC
ECL - ECOLAB INC
SI - SIEMENS A G ADR
AYE - ALLEGHENY ENERGY INC
CS - CREDIT SUISSE GROUP
XEC - Cimarex Energy Co
RGBL - RG GLOBAL LIFESTYLE
BG - BUNGE LTD
TRI - THOMSON CORP
NETL - Netlogic Microsystems
PAY - Verifone Systems
FMCN - Focus Media Hldg
VEA - Vanguard Europe Pac
LNT - Alliant Energy Corp
VGK - VANGUARD EUROPEAN V
HXL - HEXCEL CORP
SPR - Spirit Aerosystems
GFIG - GFI GROUP INC
FRG - Fronter Gold Inc
DLR - DIGITAL REALTY TRUS.
GAME - SHANDA GAMES LTD
CRXX - CombinatoRx Inc
JAZZ - Jazz Pharmaceutical
DVR - CAL Dive International
TK - Teekay Co
SCG - SCANA CORP
SPWRB - SunPower Corp
WERN - Werner Enterprises
RNR - RENAISSANCE RE HLDG
HTS - Hatteras Financial
PRX - Par Pharma Cos
GAS - NICOR INC
ISLN - Isilon Systems Inc
NETC - NET Servicos de Com
HSNI - HSN Inc
TNK - Teekay Tankers Ltd
MR - MINDRAY MEDICAL INT.
AXTI - AXT Inc
AFG - AMERICAN FNCL GROUP
ZUMZ - ZUMIEZ INC
HMN - HORACE MANN EDUCATR
FICO - Fair Isaac Inc
List of stocks whose 13 MA crossed above the 50 MA ( Bullish Cross )
HAL - HALLIBURTON CO HLDG CO
BHI - BAKER HUGHES INC
TSL - Trina Solar Ltd
PPL - PPL CORPORATION
ADCT - ADC Telecommunication
UBS - UBS AG
BIIB - IDEC Pharmaceutical
UN - UNILEVER N V
ING - Ing Groep NV ADR
GRNO - Green Oasis Environ
DLR - DIGITAL REALTY TRUS
TEF - TELEFONICA SA
UYMG - Unity Management Gr
KNX - Knight Transportation
WERN - Werner Enterprises
SMTB - Smithtown Bancorp Inc
CNL - CLECO CORP
PCYC - Pharmacyclics
NST - NSTAR
WNI - Schiff Nutrition Intl
TNK - Teekay Tankers Ltd
List of stocks whose 13 MA crossed below the 50 MA ( Bearish Cross )
LVS - LAS VEGAS SANDS CP
SNDK - SanDisk Corporation
SKX - SKECHERS USA INC
FST - FOREST OIL CORP
ACTC - Advanced Cell Techn
ROST - Ross Stores, Inc.
PWR - QUANTA SVCS INC
ALXN - Alexion Pharmaceutical
VCLK - ValueClick, Inc.
AU - Anglogold Ashanti L
WNR - WESTERN REFINING INC
SINA - sina.com
TTGT - TechTarget Inc
TDC - Teradata Corp
QSFT - Quest Software, Inc.
CML - Compellent Technolo
ALK - ALASKA AIR GROUP INC
RNN - Rexahn Pharmaceutical
TRAK - DEALERTRACK HOLDINGS
NP - NEENAH PAPER
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