Sunday, January 16, 2011

Reader Requests - Part 1

Here is the first post on the reader requests that came in on Saturday. For those of you who can't find your requested charts in this one, I will be posting the second batch later in the day. Earnings season gets truly underway this week, so be sure to first check out when a stock that you are interested in is reporting before getting into it. Personally speaking, I don't like to hold any stock through its earnings. No exceptions to this rule, not even Apple!

GS - Setting up nicely here. MA(20) providing nice support the last month or so and higher lows being formed. The close above 174.50 on Friday was important. The weekly chart is also attached below the daily. The stock is testing the trendline here and watch out for a break out soon.

CSKI - A beautiful downtrend. MA(20) acting as tough resistance recently. A short on the break of 6.25.

SWY - Lower highs being formed on this one. Wouldn't want to go long this over here. If you are already long, keep a stop loss just below 20.50 and one eye on the exit. I, personally, don't like to hold on to stocks that can't perform on good days. Its usually a sign that they will lead the way down on down days.

ACTG - Like this one here or on a pullback to marked support. Consolidating nicely but wouldn't like to see MA(50) breached again, so a stop below that should do the trick. New highs soon on the cards.

FDX - Looks great apart from the weak close on Friday. Lovely consolidation here. But more interesting is the weekly chart shown below the daily chart. The stock is at crucial levels here which have acted as support in 2006 and then as resistance from 2008 onwards. Watch out for a breakout on a move over 99. One to buy on any dips.

MOTR - This one is for one of my favorite traders. The chart is still a work in progress. The volume pattern is beginning to turn bullish after the gap down on big volume. 22 should be an important resistance level due to a combination of previous highs, Fibonnaci level and quite possibly MA(50). Looks good for a small starting position here and a further add on a break of 22.

ATML - When did this stock last have a down day?? I remember saying this was a good buy on a break of 10.25! Coming back to the present, like the way it is consolidating with narrow bars. Watchout for a breakout on break of 14. Like it more as a momentum play rather than a swing play. The stock has the habit of testing the MA(20) often, so further consolidation or a small pullback will do it no harm. So, a buy either as a quick breakout play on break of 14 or as a swing trade on test of MA(20).

More charts coming up later in the day. Take care and good luck!

1 comment:

@LynnHoggan said...

Trading on fundamentals first and techicals second... I like to hold stocking going into earnings. Key for me is quality companies. Lots of times I sell before earnings are posting knowing the earning have already increased the stocks value. Earnings season is my most productive times of the year... It's interest how we all trade with different strategies.