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Thursday, November 08, 2007 

SELL-OFF on the table, but some stocks resisted

Chart courtesy of stockcharts

You probably can not believe but today RIMM closed GREEN again, reaching also during the regular trading session a new 52 week high at $137.01 , but closing far from this level at $133.03. One of the reasons behind this movement, it was the upgrade price target from RBC that raised RIMM price target to $180 from $120. Stock have reached overbought conditions, so at these levels we should have some cautions.

Chart courtesy of stockcharts

LVLT - In a day likes today, stock have demonstrated a lot of strength to sustain the selling pressure, closing again above $3. Insider buying are very active, keep an eye on this factor, that are putting some worries on Bears.

Chart courtesy of stockcharts

Look at this chart, amazing !! From $5 in June to $44 now !! China Finance Online shares are now stabilizing recent gains trading in a long sideway since the end of September, so keep an eye on this hot stock for a possible breakout of the range.

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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