AC Investor Blog: 07/01/2006

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Friday, July 28, 2006

Bulls gaining the week versus Bears

Chart courtesy of stockcharts

The Dowjones gained 119 points to 11.219. For the week, the Dowjumped 3.23% and the S&P500 gained 3.08%. Both Charts are in identical Bullish situations, however we can see 2 notes about the High-lows marks made in the last 2 months, that could make some sense if the market next week invert the Bullish situation.

Chart courtesy of stockcharts

BIDU stock, the Beijing-based company on Thursday said quarterly profit nearly quintupled and forecast third-quarter sales would almost triple, but its stock fell sharply as China's Web search leader succumbed to lofty expectations.The company posted a second-quarter profit of $7.3 million (58.5 million yuan), or 21 cents per diluted share, the revenue jumped 175 percent to 191.6 million yuan.
According to the chart above the oscillators still are moving to the downside and I believe, will continue to move down to test, in the short term, the $65 support for close the GAP.

Chart courtesy of stockcharts

Shares of Symantec Corp. the antivirus software maker rose on Thursday after the company posted a better-than-expected quarterly profit, helped by greater revenue from last year's acquisition of Veritas Software. In the daily time frame the chart shows that the RSI reached now the Overbought area, and shares are near the resistance area of $17.90, so we can have soon a possibility of a Pull-back.

Chart courtesy of stockcharts

Shares of Navteq "NVT" tumbled 23.73% or $8.22 in Thursday trading, after the company reported results below Wall Street estimates. On Wednesday after the markets closed the company said that the second-quarter profit dipped and blamed "unfavourable" trends and delays in product launches. The company earned $23.8 million, or 25 cents per share, compared with $25.3 million, or 27 cents per share, last year. Revenue rose 11 percent to $135.9 million from $122.8 million. For the second half of the year the president and chief executive Judson Green said that the company will continue to invest in its database and expects better performance. In the daily time frame the chart shows some rebound in the Fullstoch after the big drop, it's normal. Now the $30 will be the key resistance level.

That'a All. Have a great weekend and a great business week !!!

AC

22:38 | Permalink |

Saturday, July 22, 2006

Key Word : The trend is your friend !!!!!

Courtesy of stockcharts.com

Dow Jones closed on Friday for the second time this month below the EMA200. I think this is a very critical phase for the DOW and perhaps the scenario for another drop in this indice could appear soon. The first objective would be the retest of the previous low at 10700 and then 10400.

Courtesy of stockcharts.com

Corning stock chart in the daily time frame it's show a descending triangle with a target in the $20.40.

Courtesy of stockcharts.com

Yahoo shares fell sharply on Wednesday 21% after the company reported weak revenue from Internet search advertising in the second quarter. Yahoo earned $164 million in the second quarter matching analysts’ expectations. The company’s revenue was $1.58 billion, up 26%. Yahoo’s revenue from selling advertising and other marketing services was $1.39 billion, up 27%. The company maintained its predictions for revenue and operating cash flow for this year.

Courtesy of stockcharts.com

Ericsson "USA " shares fell to $31.06 on Friday after the company said profit dropped for a second straight quarter, following the acquisition of unprofitable Marconi Plc assests.
Ericsson stock in the daily time still trading in a downtrend and I believe we will go to continue in this trend.

Courtesy of stockcharts.com

Red Hat, Inc. " RHAT " stock has been moving in a negatively inclined channel since May as show the chart above. During this week touched in the top of the trend and inverted again, so this short uptrend lost the strength, next support before the bottom of the trend is $21.50.

That's All. Have a great weekend and a good business week.

AC

19:20 | Permalink |

Saturday, July 15, 2006

Nasdaq near to reach the 2000 points !!!

Dear Visitors : Last week this blog was not updated due the fact that I was in vacations during 15 days, so as is usually I’ll update the blog on the last day of the week. Thanks.

Chart courtesy of stockcharts

Dowjones down near of 1% to 10,739.35., the Standard & Poor's 500 index dropped 0.49% to 1,236.20, the Nasdaq declined 0.82% to 2,037.35 a 14-month low.
According to the chart above Nasdaq perhaps will find support here after testing the October lows but the people are very nervous with the latest news from company profit warnings, taxes and the recent big problem of Middle East and damage to Nigerian pipelines.
The latest news from Macro economic news also don't help the stocks, retail sales slipped 0.1 percent after growing by the same amount the previous month, the University of Michigan said its consumer-sentiment index for July fell 1.9 points to 83. That compares with expectations for a slight rise to 85.5.

Chart courtesy of stockcharts

Shares of Intevac (IVAC) on Tuesday rose more than 11% after the company said it received orders for 11 of its disk-sputtering systems. As a result of the orders, Intevac expects 2006 revenue to top expectations. IVAC on Friday coming back to test support at the previous breakout area.
Support : $22.05 Resistance : $23.00

Chart courtesy of stockcharts

Level 3 communications (LVLT) stock has been moving in a negatively inclined channel since May as show the chart above. The oscillators are moving to the downside. I believe, will continue to move down to test, in the short term, the $3,75 level exactly the actual value of the EMA200. LVLT hasn't broken the $4 support but it is looking like it will.

Chart courtesy of stockcharts

Shares of Intergraph (INGR) rose 13% on Wednesday 12th July after the software company boosted its second-quarter projections. The company announced that it expects financial results for the second quarter and full year to be higher than the previous guidance provided by management in April. Intergraph raised its revenue estimate to $151 million to $153 million from an earlier forecast of $145 million to $147 million.
Support: $32.80 Resistances : $36.05 and 38.10

That's All. Have a great weekend and a great business week.

AC

17:23 | Permalink |