Traders should now look for long-biased trades in AMD as long as it's trending above its $1.97 with strong upside volume flows. I would consider any upside volume day that registers near or above 28.96 million shares as bullish. If AMD can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $2.35 to its 50-day at $2.56. Any move above its 50-day could then send AMD towards $3 to $3.25 in the near future.
LDK Solar (LDK)
This is a solar module manufacturer. The company sells multicrystalline and monocrystalline wafers globally to manufacturers of solar cells and modules. This stock is trading up 7.4% to $1.15 in recent trading.
Today's Range: $1.10-$1.1752-Week Range: $0.71-$6.92 Volume: 1.08 million Three-Month Average Volume: 761,665 This stock is trending higher ahead of its earnings report which is set for Monday, December 3, 2012. From a technical perspective, LDK is ripping higher here right above its 50-day moving average of $1.00 with above-average volume. This move is quickly pushing LDK within range of triggering a near-term breakout trade. That trade will hit once LDK manages to take out some near-term overhead resistance at $1.13 with high volume. At last check, LDK has hit an intraday high of $1.17 and volume is well above its three-month average action of 761,665 shares. Traders should now look for long-biased trades in LDK as long as it's trending above its 50-day at $1.00, and then once it sustains a move or close above $1.13 to $1.17 with volume that hits near or above 689,355 shares. If that breakout triggers soon, then LDK will set up to re-test or possibly take out its next major overhead resistance levels at $1.25 to $1.33. Any high-volume move above those levels will then put $1.62 to $1.70 into focus for shares of LDK. Keryx Biopharmaceuticals (KERX - Get Report) This is a biopharmaceutical company focused on the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of cancer and renal disease. This stock is trading up 2.3% to $3.00 in recent trading.