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Tuesday, June 19, 2007 

BEAS uptrend intact, CPX ready to breakout ?

Chart courtesy of stockcharts

BEA Systems shares were up today more than 1.5% to 13.68$ even after UBS downgraded company to neutral from buy saying that expectations for a takeover or shareholder-inspired shake-up are already priced into the shares after little indication of improved execution from the company. Stock opened at 13.35 and rapidly have moved up closing just a few points of the highs of the day at 13.81$, printed a wonderful white candle for Bulls, due to this factor I'm sure that tomorrow will be another great day, when a stock don't fall after a downgrade, well it's a strong sign of strength. As seen by the chart above, the stock has been consistently trending higher with nice steps and in a clear uptrend channel.

Chart courtesy of stockcharts

CPX may be ready to breakout !!
Looking at the chart stock has had a nice run over the past two months. I'll be Bullish in this stock if breakout 27.75$, so keep an eye on CPX.

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. Have a nice evening !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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