The Bulls are back !!!
Chart courtesy of www.stockcharts.com ( click to enlarge )SNDK - Sandisk broke out an inverted head & shoulders pattern at 10.95 point on Friday. The advance was confirmed with expanding volume and the stock broke resistance. The breakout with expanding volume signaled exceptionally strong buying pressure. The upside violation of 10.95 point should see the stock going up to test next immediate upside target of 13.50 level.
Chart courtesy of www.stockcharts.com ( click to enlarge )Until recently, I was bearish on CIEN due to some divergences in some indicators, but now I have changed completely my position on stock. Looking at the daily chart, the stock is still on the comeback after plunging to new record low of 5.07 per share in November due to less favorable results. Today shares rose back to near 7 bucks per share and is 50% above its low. The technical chart shows the stock is now in a rally as K line is on top of D line with MACD above signal line. Although the stock is still weak as the stock is trading below 50 day and 200 day moving average, it is approaching 50 day moving average. If the stock crosses this level with a huge volume, there are plenty of upside for this stock.
Chart courtesy of www.stockcharts.com ( click to enlarge )AAPL - The technical chart shows the stock could be back to new rally again as K line has just crossed on top over D line and the stock is back above both 13 day moving averages. However the stock is still somewhat weak as MACD and signal line are still below 0. Nevertheless MACD show sign of improvement as MACD is less than signal line. Go long at any close above the 93.93 level ( 50 dma ).
That's all Folks. See you Monday !!!
AC
