AC Investor Blog

Stocks to watch next week - TD Ameritrade Holding , Potash and Tractor Supply

2009-07-17T22:14:00.011+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

POT - The stock is holding above the 13-day moving average at $90.38. Short-term investors can hold the stock as long as it trades above this support. Any close below this level would indicate that the recent rally may be near the end. Technically, the stock could go either way and my bias is to the upside, but I do not have enough conviction yet based on this setup.

Chart courtesy of www.stockcharts.com ( click to enlarge )

TSCO - After a long up leg that brought prices from the June low of $36.74 to Friday highs of $47.98, the stock has gained nearly 33 percent. This is generally a hot buy from a technical perspective, however at this point the stock is too extended for additional positions, and is now in the overbought zone. I really like the chart but at this level I would wait for a pull back before putting any cash to work. Near term support is at the rising trend line from 43 to 47.98, only fall below the trend line support will take price back to test 45 level.

Chart courtesy of www.stockcharts.com ( click to enlarge )

AMTD - The medium-term trend is up. The immediate target is 19.34, which was achieved on the past month. Despite the recent rally on the markets, the stock just registered an upside of 5 percent from the previous week's close. For people who is out, the buy point will be on the day it blows through $18.03 on heavy volume. The uptrend continuation scenario remains more likely at the moment, however a stop-loss at is necessary at $16.45. The technical indicators show the stock is back to rally again as K line is above D line with MACD also back above signal line.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all Folks. Have a nice and enjoyable weekend !!

AC

Stocks to watch Friday - Ciena , Yingli Green Energy and JDS Uniphase Corporation

2009-07-16T23:30:00.009+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

YGE made a strong upside reversal today. The technical chart above suggests that stock might find now resistance at $13. Only a close above this level would suggest further upside. I think the stock is due for recovery as K line has crossed on top over D line. The stock needs to close above $13 in order to alleviate the negative near term view. Remain invested with a stop loss at $11.06.

Chart courtesy of www.stockcharts.com ( click to enlarge )

JDSU - From the technical chart it looks like the slide has ended and the stock is now back on the rise again with K line on top over D line. Fresh buying may be considered on a move past $5.91, with a stop-loss at $5.41. At the moment, there is no reason to sell the stock.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CIEN showed more signs of strength on today's session, as the stock closed up $.27 on the day.

A quick look at the technical chart :

1) The MACD Fast line crossed up through the slow Line on Tuesday – Bullish.
2) 50 day moving average crossed the 200 day moving average to the upside.
3) RSI back above 50 level.
4) Money Flow-Index still climbing.
5) The +DI crossed up through the -DI his week - Bullish.
6) Golden Cross Activated

On Thursday, it tested the 50-day moving average line that has been resistance. If the CIEN can break above this resistance, that would be significant – Very Bullish.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. See you tomorrow !!!

AC

Stock Picks and Trade Ideas for Thursday - Intel, Level 3 Communications and Wells Fargo & Company

2009-07-15T22:11:00.007+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

WFC showed some signs of strength on Wednesday, as the stock closed up $.90 on the day. The stock broke resistance today, but it was too late for me to make a trade. I feel there will be a continuation move on Thursday, and I'm buyer once it breaks through Wednesday’s high of $25.47. From the technical chart above we can see that the stock is on a bull market as the stock is trading above both 50 day and 200 day moving average and the 50 day moving average is on top of 200 day moving average heading upwards. From here, the stock might run to $27 according to the way the market is acting now.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Over the past five weeks LVLT has experience a huge increase in volume along with some strong price movement. Looking at the daily chart the stock broke out from a symmetrical triangle pattern breaking out of resistance around $1.5/share. I believe price action will make a quick run near to 1.77.

Chart courtesy of www.stockcharts.com ( click to enlarge )

INTC was a big winner on Wednesday, as the stock traded higher on good news and strong earnings from the company. The stock hit a high of $18.19, which is resistance for the continuation move. From a technical standpoint, the stock is very strong. Now that the stock is on an uptrend with MACD above the signal line, any pull back would mean great buying opportunity.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. See you tomorrow !!!

AC

Stocks to watch Wednesday- Ciena and Advanced Micro Devices

2009-07-14T21:25:00.005+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

I am keeping AMD on the list for Wednesday. INTC released better then expected numbers after Tuesday’s close, which should lead to the semiconductor sector bouncing on Wednesday. If this sector shows strength on Wednesday, I will buy AMD above Tuesday’s high of $3.61. If the stock breaks $3.60 on a close basis, we should see it pause at $4.00 and then make a strong upside move to $4.80. From a technical perspective, the stock has formed a positive divergence pattern and we could see a rally on the stock, if it is able to move above the $3.61 level and if overall market sentiment for frontline tech stocks turns positive.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CIEN broke through its short term resistance level of $9.50 on Tuesday, and looks ready to go higher. The stock was able to close positive in a choopy market environment, which is another reason to continue watching. The technical chart shows the stock is rising as K line is on top over D line showing buy signal. Once CIEN breaks above Tuesday’s high of $9.76, get ready to enter the trade on the continuation move.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. See you Tomorrow !!!

AC

Banking stocks to watch tomorrow : Goldman Sachs Group and Bank Bank Of America Corporation

2009-07-13T22:30:00.005+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

GS - The stock may face strong resistance at 150.27, above it may test 151.17. This stock will move quickly and is very volatile, so be careful with your share size and entry price. Optimum buy point is when price crosses the resistance line at 150.27. The short-term outlook for GS is neutral to bullish ( all the trends in stock indicators are neutral or positive ).

Chart courtesy of www.stockcharts.com ( click to enlarge )

BAC - The short-term outlook for the stock is Bullish. In the last trading session, the stock broke through its 200-day moving average and closed up $1,11 at $12.99. BAC is now above 50 day and 200 day moving average and if the upward trend can continue for another month or weeks, and 50 day moving average can cross on top over 200 day moving average than the stock will be ready for another big rally. The chart above inspire me some confidence and I think the stock could continue its upward trajectory. Further rise could be seen to 13.69 zone this week. Initial support is located at 12.48 level. As long as this level holds, the uptrend will continue.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all Folks. See you tomorrow !!!

AC

Trade Ideas for next week - Arch Coal, American International Group and Yahoo

2009-07-10T23:14:00.000+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

ACI made a strong upside reversal this week. The near-term trend does not appear bullish, therefore there is no reason to invest in this stock now. Fresh exposures may be considered once the stock stabilises and gets into an upward trending mode. The technical chart above suggests that stock might find now resistance at $14.50. Only a close above this level would suggest further upside. Remain invested with a stop loss at $13.85.

Chart courtesy of www.stockcharts.com ( click to enlarge )

AIG was the strongest stock on Friday. The stock reversed strongly to move to my short-term resistance at $12. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above $12.71 on heavy volume.

Chart courtesy of www.stockcharts.com ( click to enlarge )

YHOO - Despite weak signal from MACD in the chart as MACD and signal line are below 0, the technical daily chart shows this might be an interesting time to buy the stock as K line has just crossed on top over D line showing buy signal. However, the stock is still facing resistance around its 13-day moving average. Fresh long should be made only when the stock moves above this resistance level. The stock is currently in a downtrend.

That's all Folks. See you on Monday !!! Have a great and enjoyable weekend !!!

AC

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2009-07-10T21:29:00.002+01:00

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Hot stocks for Friday - Ross Stores and DXP Enterprises

2009-07-09T22:41:00.000+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

DXPE failed to continued it’s bearish scenario today. The stock topped at 10.13 and closed at 9.99. On the daily chart we can see the short term bearish trend line has been violated to the upside. The bias is now bullish in nearest term but remains neutral in medium term. With KD rising we could see possible rally coming for the stock. In addition the RSI is extremely oversold. After the recent free-fall we may have found a bottom. Let's keep an eye on DXPE as i think momentum will pick up.

Chart courtesy of www.stockcharts.com ( click to enlarge )

ROST - The major resistance was broken at 40.92 on heavy volume. Buy trigger is clear, however beware of a possible fake move. ROST hit a high of $41.85, which is 0.71 cents above its resistance high of $41.16, set on September of 2008. This can be a very volatile and fast moving stock, so watch the stock closely. Technically speaking, the chart looks Bullish with both 20 and 50 daily moving averages going up and MACD indicator above its signal line indicating further strength. Short-term investors can buy with a stop at $40 and long-term investors can hold with a stop at $38.87. Let's keep an eye on ROST as i think momentum will pick up.

That's all Folks. See you tomorrow !!!

AC

Hot stocks to watch Thursday - Sirius XM Radio and ReneSola

2009-07-08T22:12:00.000+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

SIRI traded down over the last trading sessions, but not enough to make me stop watching. The volume was weak compared with recent sessions when prices rose, which means traders are not betting on the downside. I think the stock is still in a consolidation range, waiting to make a big move. This stock is going to have a big move and it should be to the upside.

A quick look at the technical chart :

1) SIRI is currently is moving down with low volume
2) 20 day moving average crossed the 50 day moving average to the upside.
3) 50 day moving average crossed the 200 day moving average to the upside.
4) Bullish divergence: price is decreasing, whereas MACD lines are going up.
5) RSI still above the neutral 50 level at 51, buyers strength still persists.
6) Stock made consecutive higher lows since June.
7) Major resistance (white line) was crossed to the upside a few days ago.
8) Money Flow-Index still climbing.
9) Golden Cross Activated !!!

Resistance stays at $0.484 for the upside move. Continue to watch SIRI because the stock should give us an opportunity for a good trade soon.

Chart courtesy of www.stockcharts.com ( click to enlarge )

SOL is currently in the fourth leg of the short-term bear market that began in middle of June. This down move has been halted around $5 area, but unfortunately for Bulls, this support has been broken today and the next resistance now exists at 4.10. The chart pattern does not inspire confidence and the stock could continue its downward trajectory. Never catch a falling knife in this market !!!

That's all Folks. See you tomorrow !!!

AC

Stocks to watch Wednesday- Nvidia and Rambus

2009-07-07T22:32:00.005+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

The stock made a nice reversal today and finished stronger. Further rally is still possible to $16 zone. From the technical chart the stock looks somewhat weak in the short-term as the stock is still trading below the 20 day moving average and short-term MACD moving down. However, the surge today brought K line to near D line indicating that we can see a rally soon. Hold the stock with a stop at $14.52.

Chart courtesy of www.stockcharts.com ( click to enlarge )

If the weakness continues and NVDA breaks the support at $10.08, there will be a good chance that the stock will test the $9.18 support. However, as long as support holds a reversal is possible. Technically, there is nothing positive about the technical chart. All other indicators still point to a bear market.

That's all Folks. See you tomorrow !!!

AC

Trade Ideas for Tuesday - Labopharm and KLA-Tencor Corporation

2009-07-06T21:51:00.004+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

DDSS has a Bullish looking stock chart, price broke out from the horizontal resistance mark around $2.45 per share on a respectable volume. The technical daily chart show a continuation of the trend with MACD and RSI in the Bullish areas. From a technical viewpoint, the stock is continuing to develop new highs and therefore defining a new bullish trend. Initial support is at 2.46 and followed by 2.37, as long as 2.46 support holds, I'd expect up trend to continue and further rally could be seen to 2.95 zone. However, a break of 2.37 level will take price back towards 2.20 level. Let's see if tomorrow the stock will confirm the recent breakout.

Chart courtesy of www.stockcharts.com ( click to enlarge )

KLAC remains in a short up trend. Further rise to test 27.87 resistance is still possible, and a break of 26.36 ( 50-day moving average ) will confirm such case. Initial support is at 25.41. Investors should contemplate fresh purchases only on a close above this 26.36. Most of the technical indicators are pointing towards some more upside in the coming sessions. RSI have moved above the 50 points mark in the daily chart and Stochastic oscillators are surging.

That's all Folks. See you tomorrow !!!

AC

Trade Ideas for next week - Ciena, Sirius XM Radio and Capstone Turbine Corporation

2009-07-03T07:38:00.000+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

SIRI has made a sharp recovery from a low of 0.34 on the basis of short-covering. In the short-term, i expect the current reversal in trend to continue. The technical daily chart shows the stock is in a bull market as MACD is on top of signal line K line is on top of D line, both indicating buy. In addition, the stock is on top of 50 day and 200 day moving average showing the stock is in bull market. The chart also shows that there is a limited evidence of downside pressure on the stock, for example on Friday the stock dropped 2.7% on low volume (no selling).This is a clear evidence of the strength of bulls. They are controlling the stock.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CIEN - Despite seeing a steady declining trend in the last trading sessions of the week, the stock managed to hold on the crucial levels of 9.54, amid some volatility. Since the begining of March the stock has show sign of recover as it has reversed the downward trend and began to go north. Moreover when the Golden Cross was formed in early May, we have been expecting the major rally. However the weak market in June drove the stock down a little bit and delayed the rally. At the moment, I'm still convinced the stock will move up again, due to the fact that it has been falling on low volume with MFI rising.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CPST - The 50-day moving average at $0.78 is acting as a strong support currently. As long as it doesn't break down 0.78, the chances of going to 0.98 is always there. The stock has bounced off from the above mentioned levels on three occasions. The daily RSI is also showing a sign of reversal, currently trading above 49. If CPST can go up again to bring K line up then you may want to consider buying the stock as it has pletty of room to go since ROC is at oversold level. Short-term traders can buy the stock in the range of 0.78-0.79 for a target of 0.89. Maintain a stop loss of 0.78 and go long. Increase the position if it closes above 0.85.

That's all Folks. See you on Monday !!! I just want people to have a nice Independence Day.

AC

AC Investor Blog recorded a new record of visitors : 2128 (thanks)

2009-07-02T15:14:00.005+01:00

AC Investor's Blog for the third time this year recorded a mark above the 2000 visitors in a single day. On Wednesday 2.128 people, who made 2.469 clicks, were visiting AC Investor Blog. There is no a specific reason behind this rush of visitors. I'd just like to say that this site has also set a new record for me, more than 354.140 people have come to this site since was created, and I'd just like to say thanks to all visitors and friends.

Airline Stocks to watch on Thursday - Continental Airlines and UAL Corporation

2009-07-01T23:21:00.003+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

UAUA - The technical daily chart above shows that it is still to early to say that the downtrend has ended. The stock seems to have a remarkable support around the $3 mark, however it's better to stay at the sideline. Only a close above $3.60 would trigger some positive sentiment.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CAL had a good move today. The stock broke out the falling wedge pattern to the upside. This is a trend reversal pattern suggesting a halt in the bearish trend . The stock could touch an upside target of 10.42 in the short term. The technical daily chart shows the stock is now back to uptrend and with K line above D line we may see more upside. Existing holders could remain invested. CAL will move quickly, so watch the stock closely on Thursday.

That's all Folks. See you tomorrow !!!

AC

Stocks to watch Wednesday- Optimer Pharmaceuticals and RehabCare Group

2009-06-30T22:44:00.006+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

OPTR broke out today on a nice volume. If this chart does what is supposed to do, it will be going higher in the days to come. Technically, the stock is in a strong Bull Market with share price above 20, 50 and 200 daily moving averages. Let's see if tomorrow the stock will confirm the breakout. Short-term investors can buy with a stop at $14 and long-term investors can hold with a stop at $13.18. Let's keep an eye on her as i think momentum will pick up.

Chart courtesy of www.stockcharts.com ( click to enlarge )

RHB recorded a new high in the last trading session. Short-term outlook for the stock is bullish. If in the next sessions new highs don't happen, I expect to see a decline due to the overbought conditions. On contrary, new fresh exposures on RHB should be made only when the stock move above 24.52. Stay tuned !!

That's all Folks. See you tomorrow !!!

AC

Stocks to watch Tuesday - Blockbuster and Rambus

2009-06-29T21:54:00.006+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

RMBS - On the daily chart, the stock is still facing resistance around 16.20. It seems to be forming a short ascending triangle, with support at 15.32 and resistance at 16.20. Considering the volume decrease in this move, I’m now in doubt if this is a valid pattern. I am more inclined to consider this as a bearish move that may break the support. If the resistance is broken, we can expect a target price of 16.92, which is also the 13-day moving average line. But on the other hand, there is also a possibility of break down. Cut loss immediately if 15.32 is broken.

Chart courtesy of www.stockcharts.com ( click to enlarge )

BBI - Blockbuster was a winner today. The stock rose $0.05, or 8 percent, to $0.67. BBI has had a bearish move recently. The downward price movement is not accompanied by volume, which suggests that people are still holding the stock. Currently price is now at 0.67 level and based on KD indicator we might see an upward move for this stock again. The short-term targets are 0.7, 0.76 and then 0.81. Short-term support is at 0.62.

That's all Folks. See you on Tuesday !!!

AC

Stocks to watch next week - The Pep Boys , Expedia and Vertex Pharmaceuticals

2009-06-27T15:09:00.006+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

VRTX broke out this week on pretty good volume. If this chart does what is supposed to do, it will be going higher in the weeks to come. At the moment, I'm buyer only once it breaks through Friday’s high of $36.20 for the continuation move. Stochastics and the RSI are overbought but remain bullish signaling. Technically, the stock is in a strong Bull Market with share price above 20 dma, 50 dma and 200 daily moving average. Keep it on the radar.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Expedia shares continue to channel down and only a move past $16.05 would impart a positive trend. The major resistance is at this level, followed by $17.65. The support is at $14.82. Some indicators are improving but it needs to breakout above the $16.05 resistance to confirm the change in trend.

Chart courtesy of www.stockcharts.com ( click to enlarge )

PBY recorded a new high in the last trading session. The stock topped at 10.4 and closed at 10.17, up 0.48 cents (+5%) on volume of 1.53 M, above the average . The technical daily chart show a continuation of the trend with MACD and RSI in the Bullish areas. Let's see if next week the stock will confirm the breakout. For the long term the stock should still continue to go up.

That's all Folks. See you on Monday !!! Have a nice weekend !!!

AC

AC Investor Blog recorded the best week's traffic ever

2009-06-26T23:44:00.000+01:00

Ladies and gentlemen, this week the blog recorded the best week's traffic since was launched. More than 7339 people visited the blog during the last week. That is an awesome result for a financial blog like this one, and obviously this motivates me to continue posting more and more great stuff. If you like this blog, please leave a comment.

Thanks again for all the support.

AC

3 Stock Picks for Friday - Sirius XM Radio, Capstone Turbine Corp and CAI International Inc

2009-06-25T21:40:00.008+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

SIRI - Shares of Sirius XM Radio, surged for the fifth day in a row on Thursday by adding 15% or 0.06 cents to $0.455 per share. A closer look at the daily chart it displays a downtrend line broken to the upside with huge volume. From here we can expect a run to the $0.555 area and from there we could see an explosive upsurge to $0.631 and better. The MACD indicator is now above its signal line and is indicating further strength. In addition, the ADX is increasing and is above 20 level which shows a strong trend is developing. The RSI indicator is moving up above 50 and the +DI is greater than the -DI by a great margin, indicating a Bullish trend. Further rally is still in favor next week and target is at 0.55-0.63 area.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CPST - The technical daily chart above shows possible new rally as K line has crossed on top over D line while ROC is still at oversold level. In addtion the price is back above 50 day moving average. I'm still bullish on Capstone Turbine Corp.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CPA recorded a new high in the last trading session. The technical daily chart show a continuation of the trend with MACD and RSI in the Bullish areas. Short-term outlook for the stock is bullish. Buy the stock in dips with a stop-loss at $38.67. I'll be watching her carefully for any possible opportunities.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's all Folks. See you tomorrow !!!

AC

Healthcare stocks to watch on Thursday - Spectrum Pharmaceuticals and SciClone Pharmaceuticals

2009-06-24T21:48:00.006+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

SCLN was correcting in a downward channel after having doubled in value. Today, the stock finally broke out of a downward trending channel on strong volume and looked poised to move higher to test the May highs. A move to the 2.42-2.50 range appears likely. The technical chart shows positive sign as the stock has just rose above the 13 day moving average again and RSI moves up. Shareholders may remain invested with a stop-loss at 2.15.

Chart courtesy of www.stockcharts.com ( click to enlarge )

SPPI - The stock is trading near its all time high. Buy only when the stock breaches $6.35. Once the stock breaks this level we should see a strong upside move. SPPI will move very quickly, so keep the stock on your screen throughout the day on Thursday.

That's all Folks. See you on Thursday !!!

AC

One of the most dangerous trails in the world - El Camino del Rey

2009-06-24T11:31:00.002+01:00

Click on Video to Play

My friend Victor from Nevada just sent me this great video of the “El Camino del Rey” trail.

El Caminito del Rey "The King's little pathway" is the name of a very dangerous walkway that winds its way along the steep walls of a narrow gorge known as El Chorro, near Álora in Málaga, Spain. In the year 1921, Alfonso XIII opened three water reservoirs which are flanked by pine forests. "El Camino del Rey" was built in a side of a mountain, the path has 3Km and some places have 1m in width; and is 400m above the river. However official access to this path was forbidden in 2000 after four tourists died trying to cross it. Watch this video, if you're scared of heights, this video will make your head spin, it shows the real path with all dangers, after some minutes you are watching it, seems you are there, in first person. Check this out!

Absolutely fascinating, I think i must do it !!!!!!!

AC

Stocks to watch Wednesday- Sohu.com , Rambus and Capstone Turbine Corporation

2009-06-23T22:15:00.006+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

SOHU produced an oversold bounce today but the rally struggled near the $62.50 level. The stock remains in downtrend. Deeper decline is still possible to 57 zone next week. Initial resistance is at 62.50, as long as the resistance holds, I'd expect downtrend to continue. However, above the resistance will indicate that the fall from 69.54 has completed, and the following rebound will bring price back towards 65 zone.

Chart courtesy of www.stockcharts.com ( click to enlarge )

RMBS lost 16% today on strong volume after the memory chip maker cut its sales guidance and raised estimates of litigation and compensation expenses for the quarter. The short term scenario is not encouraging for the investors. This is a good sign for the bears. Rambus shares have broken some key supports in the $18 to $16 range. In other words, the long-term trend has turned negative. My target will be the $13.11-13.25 range. Please note there is some support near $14 and I expect a bounce there but the prevailing pattern is bearish. Fresh exposures may be avoided.

Chart courtesy of www.stockcharts.com ( click to enlarge )

CPST - Tuesday’s trading session marked a test of the 0.78 support line. The stock filled the gap that was left from its run a few days ago. Plus, volume was a little higher than yesterday suggesting a reversal trend. Tuesday’s high of $0.87 is resistance for Wednesday’s continuation move. If CPST can break through this high we should see another upside move. There could be good upside in CPST so watch the stock closely on Wednesday. This is a risky play but I think this stock could go much higher very soon.

That's all Folks. See you on Wednesday !!!

AC

Bank Stocks to watch Tuesday - Bank of America Corporation and Citigroup

2009-06-22T22:03:00.006+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

C - Bearish Trading Condition. The technical daily chart shows that it is still to early to say that the downtrend has ended. According to the technical chart, shares of Citigroup have been trading below both 50 day and 200 day moving average, a very bearish sign. Negative MACD also indicates that the stock is a sell. However, please beware of the KD line which is now at 15 and could signal a buy when it begins to rise. Immediate support at 2.96 followed by 2.85. Initial resistance seen at 3.15.

Chart courtesy of www.stockcharts.com ( click to enlarge )

BAC - My technical indicators show that the current short term bearish outlook has big probability to continue. The stock broke the key level at 12.53. Further fall is now in favor. My model is short, targeting 11.13 area ( 50 day moving average ). If the weakness continues and the stock breaks this support, there will be a good chance that the stock will test the $10.56 support. Keep a close eye on BAC for the next few trading days.

That's all Folks. See you tomorrow !!!

AC

Ferrari motorcycle concept

2009-06-22T19:25:00.004+01:00

Nowadays the Ferrari brand is one of most recognized in the world. It is synonymous with desirability and exclusiveness, a combination that leaves buyers often waiting up to 24 months just to take delivery of one. Today one of my readers sent me these beautiful pictures about Ferrari, but this time is not about cars, but about a bike! Yes a bike !!!

It’s an interesting Ferrari motorcycle concept. This bike was designed by Israeli industrial designer Amir Glinik. Using drive-by-wire technology, this bike or this V4 superbike features hand controls adapted from an F-16 fighter jet and buttons based on those found on the steering wheel of Ferrari’s Formula 1 racecars. Take a look at these pictures and let me know what do you think about it?

Stocks to keep a look out for next week - Euronet Worldwide , Genoptix and Ciena

2009-06-21T10:26:00.009+01:00

Chart courtesy of www.stockcharts.com ( click to enlarge )

CIEN - Stock starts showing ‘buy' signals again. The chart of Ciena is now much improved after Friday’s action. The MACD has reversed again the course and stock finally closed above its 50-day moving average, usually this is a Bullish signal. In addition stochastics are showing high oversold conditions, which may bring some buyers back. I would look for a move up to $11.20 resistance soon. If it passes that, then we have room to run to next resistance at $12.51.

Chart courtesy of www.stockcharts.com ( click to enlarge )

GXDX closed above its 200-day moving average for the first time since February, with heavy volume. We start to see now some signals of rebound as the technical chart shows positive momentum is back. In addition the 20-day moving average recently crossed on top over 50 day moving average which is a very positive sign. Let's keep an eye on GXDX.

Chart courtesy of www.stockcharts.com ( click to enlarge )

EEFT broke out on Friday of a short consolidation phase. Volume was strong on signaling that this move should hold. The technical chart shows a continuation of the trend with MACD and RSI in the Bullish areas. The stock is in a strong bull market with both 50 day and 200 day moving average going up, however in overbought conditions. I won't be surprise if EEFT reachs new highs on Monday, because indicators are extremely Bullishs. Keep an eye on it.

That's all Folks. See you on Monday !!!

AC