Boston, MA 04/09/2014 (wallstreetpr) – Rovi Corporation (NASDAQ:ROVI) currently taking support at its 200 day moving average at $20.50, If the above level is taken out traders can short the stock with stop loss at $21 and targets of $18 and then $17.71
If the support holds and we see some signs of recovery, a trader can go long on the stock with a strict stop loss at $20.50 and targets of $22 and $24
Positional traders can short the stock with a stop loss at $24 with targets of $16 in the coming weeks as both the momentum indicator and the relative strength index are giving a sell signal.
Oi S. A. CL ‘C’ (NYSE:OIBR.C) is currently below its 50 day moving average as well as a 200 day moving average at $1.64 and $1.74 respectively.
Short term traders can short the stock from current levels for a minimum target of $1.32 in the very short term stop loss at $1.46.
Positional traders can also short the stock from current levels for targets of sub $1.00 with a stop loss of 1.81 on a weekly closing basis.
The momentum indicators both in the short and positional time frames are indicating bearishness.
The Spectranetics Corporation (NASDAQ:SPNC) is currently taking support at its 200 day moving average at $22.08. If the support holds on then we can see a bounce from current levels towards short term targets of $25-$26.
If support is broken, then one can short the stock with a stop loss at $22.10 levels with targets of $20-$19 levels.
On positional basis one can initiate a short below $21.73 once it breaks the 50 day moving average for target of $15.52 on a weekly closing basis.
The momentum indicators have turned negative and, therefore, a short can be initiated by traders.
