Stocks Crossing 50-Day SMA 07/16: (ITUB) (FSLR) (MS) Above; (JPM) (FB) (MU) Below


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July 16, 2012 2:23 PM EDT Send to a Friend
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The following is a list of stocks crossing the 50-day simple moving average (SMA) and are either above or below the metric. The 50-day is considered an indicator of a potential near-term trend formation.

Crossing and above:
  • Itau Unibanco Holding S.A. (NYSE: ITUB) - up 1.9 percent. Positive Seeking Alpha article out today highlighting how the Brazilian bank appears cheap following the eighth rate cut in Brazil last week.

  • First Solar, Inc. (Nasdaq: FSLR) - up 9.2 percent. As mentioned earlier, First Solar gaining as shares move above $14.50. Monday morning, NRG Energy, Inc. (NYSE: NRG) said the 290-megawatt AC Agua Caliente solar project, currently under construction in Yuma County, Ariz., is more than two-thirds complete and delivering more than 200 megawatts to the electric grid. First Solar is a partner in the Agua project.

  • Morgan Stanley (NYSE: MS) - up 1.1 percent. Getting a boost from peer Citigroup's (NYSE: C) quarterly report. Morgan Stanley is slated to release second-quarter numbers on Thursday, with analysts currently expecting profit of 40 cents per share. To view Morgan Stanley's EPS history, click here.

  • Banco Bradesco S.A. (NYSE: BBD) - up 0.3 percent. Mentioned along with Itau Unibanco in the SA report. The contributor said analysts were pretty much indifferent with which one to invest in.
Crossing and below:
  • JPMorgan Chase & Co. (NYSE: JPM) - down 3.0 percent. Though Citi reported solid numbers, JPMorgan is pulling back from a 6 percent move last Friday on its own quarterly report. For a Q2 summary, click here.

  • Facebook, Inc. (Nasdaq: FB) - down 4.2 percent. Facebook lower as ad revenue fears persist.

  • Micron Technology Inc. (Nasdaq: MU) - down 2.0 percent. Micron cross the 50-day last week as well, following OCZ Technology's (Nasdaq: OCZ) first-quarter numbers as well as the warning from Applied Materials (Nasdaq: AMAT). Traders might want to see whether the 50-day will become a near-term resistance point for Micron.

  • Zalicus Inc. (Nasdaq: ZLCS) - down 7.0 percent. Zalicus appears to be making a move below the technical and is also showing some weakness below the $1.15 support level. The stock has closed lower four of the last five sessions. The 50-, 100-, and 200-day moving averages are also fairly close, at $1.08, $1.07, and $1.09, respectively.


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