Stock Picks For Monday 1 August: Power One, Hershey, Banner Corporation, Generex Biotechnology

Power One (PWER: 12.43 +2.47 +24.80%) remains one of the hottest stocks on the market. The stock sky-rocketted 25% with heavy volume to $12.43 per share on today’s trading session, after the company announced financial results for the second quarter 2010. Power-One posted record net sales of $215 million for the second quarter ended July 4, 2010, an increase of 135% from the second quarter 2009. Net income attributable to common stockholders for the second quarter was $24 million, or $0.17 per diluted share, compared to a net loss of $7 million, or $0.08 per share for the same period last year. The technical daily chart shows the stock is still in a very strong bull market with the MACD on top of signal line and the 50-day moving average on top of 200 day moving average. However, the daily momentum indicator has reached extreme overbought levels and I believe that a near-term correction is likely to happen. The positive view would be negated if the share price closes below $11.24.

Hershey (HSY: 47.00 +0.68 +1.47%) - Looking at the technical chart the overall outlook remains negative for Hershey Corp, as long as it stays below $48. The stock has a huge resistance at this level, which was the previous support. If HSY can break through, we could see the stock test $48.42 and potentially test S$48.94-$49.61.

Banner Corporation (BANR: 2.35 +0.01 +0.43%) rose just 0.43 percent to $2.35 today and is up 20 percent in July. Today’s gains occurred in the final 10 minutes of trading, possibly for technical reasons after the bears failed to push the stock below its major support line at about $2.3. The stock also found support at its 10-day moving average and had formed a bullish flag pattern, which some chart watchers like me consider a bullish indicator.

Generex Biotechnology (GNTB: 0.00 N/A N/A) seems in a good short-term bullish momentum. Key resistance is now located at $.45, a break above this level will confirm the bullish trend, and the following uptrend will take price up to $.50 zone. CCI heading up towards 100 line on daily chart. The Relative Strength Index is also moving higher, which is a sign of growing strength in the stock. Also the MACD is giving a positive indication.

Other stocks to watch :

New 52-week High stocks

ARNA - Arena Pharmaceutical
PWER - Power-One, Inc.
VMED - Virgin Media Inc
DE - DEERE & CO
TEN - Tenneco Inc
ROVI - Macrovision Corporation
CROX - CROCS INC
HEW - Hewitt Associates Inc
ERJ - EMBRAUER EMPRESSA BRA
QSFT - Quest Software, Inc.
FFIV - F5 Networks, Inc.
CHRW - C.H. Robinson World
APL - Atlas Pipeline Part
AXTI - AXT Inc
HRC - Hil-Rom Holdings
HGRD - Health Grades
LINE - LINN ENERGY LLC UTS
CZZ - Cosan Limited Cl A
QCOR - Questcor Pharm
TMRK - Terremark Worldwide
EZCH - Ezchip Semiconductor
LFL - Lan Airlines
CHT - CHUNGHWA TELCOMM
BJGP - BMP Sunstone
IGTE - iGate Capital Corporation
MIN - M F S INTERMEDIATE
MNRO - Monro Muffler Brake
HDB - HDFC BANK LTD
AWH - ALLIED WORLD ASSURA
IHS - IHS INC. CLASS A
RGNC - REGENCY ENERGY
TICC - TICC Capital Corp
TKS - TOMKINS P L C

New 52-week Low stocks

NVDA - NVIDIA Corporation
SYMC - Symantec Corporation
GPS - GAP INC
WDC - WESTERN DIGITAL CORP
CTV - COMMSCOPE INC
ARRS - Arris Group Inc
CHS - Chicos FAS Inc
CVD - COVANCE INC
HLX - Helix Energy Solutions
ELX - Emulex Corporation
SLAB - Silicon Laboratories
MYGN - Myriad Genetics, Inc.
BEC - BECKMAN COULTER INC
CRK - COMSTOCK RESOURCES INC
ZRAN - Zoran Corporation
MD - PEDIATRIX MEDICAL G
IN - UNOVA INC
ORN - Orion Marine Group Inc

List of stocks whose MACD crossed above 0

SIRI - Sirius XM Radio
AA - ALCOA INC
MET - METLIFE INC
TER - TERADYNE INC
AMGN - Amgen Inc.
HRB - BLOCK H & R INC
GERN - Geron Corporation
ERFW - Fleetclean Systems Inc
SPF - STANDARD PACIFIC CORP
TRID - Trident Microsystem
MEE - Massey Energy Co
SKS - SAKS INC
UNM - UNUM GROUP
UFS - Domtar Corp
BDN - BRANDYWINE REALTY T
CNO - Cno Fnancial Grp
OSK - Oshkosh Corp
WNR - WESTERN REFINING INC
HRC - Hil-Rom Holdings
MCBC - Macatawa Bank Corporation
EFGU - Empire Film Group Inc
ILMN - Illumina, Inc.
VCI - VALASSIS COMM INC
FCE.A - Forest City Enterprises
RL - POLO RALPH LAUREN CORP
WCC - WESCO INTERNATIONAL
ACXM - Acxiom Corporation
PHH - Phh Cor
CML - Compellent Technology
TRMK - Trustmark Corporation
LIOX - Lionbridge Technology
ATHX - BTHC VI Inc
CM - CANADIAN IMPERIAL B
PNX - PHOENIX COMPANIES INC
ALPMY - Astellas Pharma Inc
FVE - Five Star Quality C
TRMA - TRICO MARINE SVC
MOH - Molina Healthcare
BOCX - BIOCUREX INC