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Thursday, August 30, 2007 

Garmin scenarios, Ciena earnings, Sulphco Breakout

Chart courtesy of stockcharts

The chart suggests a strong confidence in Garmin, however there are possible two scenarios in the near term : 1º Possible breakdown of the trend line mentioned in the chart at $98. 2 º Possible breakout over $104.99 to all time highs . So, keep an eye on GRMN.

Chart courtesy of stockcharts

Ciena shares closed down more than 3% to $37.20 today after company said on early in the morning tha it had grown faster than the overall market in the past two years and expected to do so again in fiscal 2007. Company reported early in the morning higher-than-expected quarterly earnings, helped by demand for Internet capacity and lower expenses, and its shares rose 4 percent. The company reported profit of $28.3 million, or 29 cents per share, for the third quarter ended July 31, compared with a year-earlier loss of $4.3 million, or 5 cents per share, that reflected higher administrative expenses and restructuring charges. Looking at the daily chart stock is trading in a short downtrend as show the white line in the chart, but in a Bull Market with 50 dma above 200 dma. RSI is in a neutral zone with MACD above 0. Keep an eye on CIEN for a possible breakout of $38.30 or on the other hand for a breakdown of $36.

Chart courtesy of stockcharts

SUF - Sulphco stock broke out the major resistance of %5.95 confirmed by a strong volume, it's now a stock in a breakout mode without resistances above.

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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