Starting with Facebook Inc (NASDAQ:FB) on the daily charts. The present uptrend in stock price is getting confirmed as the days go on. Right now, I'm in a long trade that I entered around 29. The medium trend is still bullish, as we can see on the chart above. Immediate support remains at 28.75 followed by 27.4 (50-day SMA). Initial resistance at 32.21. A break above that area could trigger further bullish momentum towards $35 area.
NVIDIA Corporation (NASDAQ:NVDA) was a stock I alerted to my subscribers ( blog / twitter ) last week as a bottom trade. For those who got in when I alerted, congratulations on your 8% profit. Looking at the chart, the bounce continues and the stock has now cleared its 200-day moving average and the $13 level. This momentum could push this stock much higher from here, so keep it on the radar next week.
NVIDIA Corporation (NASDAQ:NVDA) has been forming a bull flag/bull pennant pattern. The stock has a good risk/reward. I'm looking for a strong move up in the near term. From the technical daily chart both MACD and CMF are showing bullish sign as MACD is rising above 0 while CMF is positive. I remain bullish on this stock.