Molycorp (MCP) & First Solar, Inc.(FSLR) - Weekly Stocks Pick May 14-18, 2012

During last week of trading, there were many stocks that continued to break out to the upside. Watch Resistance & support levels Below are a list of stocks that I am watching May 14-18, 2012.You can also check previous stocks to buy reports - Right here & Previous Weekly Stocks Pick Gainers- Right here

Molycorp Inc. (MCP)-  Molycorp (MCP) was down last week.New support located at $24 and resistance area is $31.27.Share of  Molcorp (MCP) trade under $30 November which is good for 1/2 long my position for 2012, I am long for 2nd  half go long for low $23s. I believe that stock could see $50 stock next 12 months.But stock is short term overbought last week, I sold near $35 and I want buy back near $28 again last week. But I am still trading for short term weekly trade because I  want to make some weekly gain in my account.This is my one of the Top Pick for 2012.

5/14-5/18 Weekly MCP resistance, pivot & support

Resistance R3 29.53, R2 28.26, R1 26.59
Pivot Point 25.32
Support  S1 23.65, S2 22.38, S3 20.71

Technical Analysis Stock Charts: Charts Below

60m chart
Daily chart

First Solar, Inc.(FSLR)-Share of First Solar, Inc.(FSLR) is trading under $20 last week.Share of First Solar, Inc. (FSLR) is one of the worst stock of year 2011.I am long some under $20 last week I am just 10% long near $40 level and looking any pullback. This stock could be $60-$70 stock  next 12 months. Stock was one of the hot stock was $2010-$2111. First Solar, Inc. (FSLR) is a strong buy below $20 per share for long term buy list  for 2012.This is my one of the Top Pick for 2012. 

5/14-5/18 Weekly FSLR resistance, pivot & support

Resistance R3 19.21, R2 18.44, R1 17.29
Pivot Point 16.52
Support  S1 15.37, S2 14.60, S3 13.45

Technical Analysis Stock Charts: Charts Below

60m chart
Daily chart


Weekly Stocks Pick Rule: When ever I buy or short stocks if that stocks go up short term quick 5-10% gain, I took profit and buy back in low price again. When ever I buy stock always have stop price. Always protect my original capital.

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