Molycorp (MCP) & First Solar, Inc.(FSLR) - Weekly Stocks Pick October 1-5, 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 October 1-5,  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 nice rebound form 52 weeks low fews weeks back.New support located at $9.40 and resistance area is $14.44.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 am long some $19.I am last long from mid $9 now my aver average now $12. I believe that stock could see $30-$40 stock next 12 months. 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.

10/1-10/5 Weekly MCP resistance, pivot & support

Resistance R3 14.38, R2 13.50, R1 12.50
Pivot Point 11.62
Support  S1 10.62, S2 9.74, S3 8.74

Technical Analysis Stock Charts: Charts Below
60m chart
Daily chart

First Solar, Inc.(FSLR)-Share of First Solar, Inc.(FSLR) is trading $20-25 last week.Share of First Solar, Inc. (FSLR) is one of the worst stock of year 2011.I am long some under $14 last week and I sold all my long near $26 few weeks because I got nice $7 gain.I want buy back mid $10 again for longer term buy again.I want to swing trade next week because short term resistance level is $24.45. This stock could be $40-$50 stock  next 12 months. Stock was one of the hot stock was $2010-$2111. First Solar, Inc. (FSLR) is a strong buy low $10s per share for long term buy list  for 2012.This is my one of the Top Pick for 2012. 

10/1-10/5 Weekly FSLR resistance, pivot & support

Resistance R3 28.65, R2 26.49, R1 24.32
Pivot Point 22.16
Support  S1 19.99, S2 17.83, S3 15.66

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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