Stocks Ready for a bounce : OceanFreight and THQ Inc.

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OceanFreight is a profitable company and the current ratios (Price/Sale, peg, book, PE) are all very low. I think there is no much space to go much lower from here. OCNF has a very low price to earnings ratio of 1.20 based on a average of 3 fiscal years. It has a book value of $3.45 a share, and is trading at only 0.3x book at $1.02. The stock is currently trading at only 0.7 x sales. Technically, the chart above shows weakness as the stock is trading below major moving averages. MACD is below 0 showing the stock is in a bearish mode. The only possible indicator is KD where K line seems to be ready to rise above D line which could mean rebound. The volume is also decreasing, which means the trend is unlikely to continue and the decline in prices will slow down. Stay tuned on OceanFreight.

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THQI's chart is showing a bullish MACD divergence. Positive divergence occurs when MACD advances upwards at a time when the price is still in a downtrend. MACD forms a sequence of higher lows. A close above today's high will cause an inversion which will lead the stock higher. In addition, the stock is extremely oversold at this point that the conditions are almost perfect for another large scale counter trend rally to develop, so don't be caught if you see this one begin. In addition, there is a lack of volume in this downward move, which tells me to be more skeptical than trusting in this move.

Other Stocks to Watch :

Stocks that have a Bullish Engulfing pattern at the end of their daily chart.

MRK - Merck & Co
VALE - Vale S A ADR
HAL - HALLIBURTON CO HLDG CO
QCOM - QUALCOMM Incorporated
XRX - XEROX CORP
LUV - SOUTHWEST AIRLINES CO
WAG - WALGREEN CO
AXP - AMERICAN EXPRESS CO
ITUB - Itau Unibnco Adr
FLEX - Flextronics International
SWY - SAFEWAY INC
NSM - NATIONAL SEMICONDUCTOR
STX - Seagate Tech
IBM - INTERNATIONAL BUSIN
AMGN - Amgen Inc.
NWS - News Corp Ltd ADR
MCO - Moody's Corp
ADI - ANALOG DEVICES INC
SWKS - SKYWORKS SOLUTNS
KG - KING PHARMACEUTICAL
AU - Anglogold Ashanti L
INTU - Intuit Inc.
NWL - NEWELL RUBBERMAID INC
WDC - WESTERN DIGITAL CORP
BCRX - BioCryst Pharmaceutical
XEL - XCEL ENERGY INC
NDAQ - NASDAQ OMX Grp
FSLR - First Solar Inc
CHS - Chicos FAS Inc
PGN - Progress Energy Inc
PRE - PARTNER RE LTD
CEPH - Cephalon, Inc.
EIX - EDISON INTERNATIONAL
ATI - Allegheny Technolog
TIE - TITANIUM METALS CORP
GOLD - RANDGOLD RESOURCES
JNY - JONES APPAREL GROUP
WSM - WILLIAMS SONOMA INC
RVBD - Riverbed Technology
LIWA - Lihua International
FFIV - F5 Networks, Inc.
PLCE - The Children's Place
EMN - EASTMAN CHEMICAL CO
CVG - CONVERGYS CORP
QSFT - Quest Software, Inc.
CSC - COMPUTER SCIENCES CORP
FOE - FERRO CORP
BEN - FRANKLIN RESOURCES INC
GNTX - Gentex Corporation
MRX - MEDICIS PHARM CORP
GIL - GILDAN ACTIVEWEAR INC
OII - OCEANEERING INTL INC
CCC - CALGON CARBON CORP
WBMD - Webmd Health Crp
PTP - Platinum Underwrite
FO - FORTUNE BRANDS INC
SRCL - Stericycle, Inc.
ACS - AFFILIATED COMPUTER
ELX - Emulex Corporation
TM - TOYOTA MOTOR CORP
CME - CME Group Inc
RCII - Rent-A-Center Inc.
DFT - Dupont Fabros Techn
FBCM - FBR Capital Markets
MDVN - Orion Acquisition C
CNQR - Concur Technologies
UIS - UNISYS CORP
CYBS - CyberSource Corporation
IYW - iShares Tr DJ US Te
MCRL - Micrel, Incorporated
HA - Hawaiian Holding

Stocks that have a Berish Engulfing pattern at the end of their daily chart.

WFC - WELLS FARGO & CO
UNG - United States Natur
KR - KROGER CO
QID - Proshares QQQ
M - FEDERATED DEPARTMEN
XRT - SPDR S&P RETAIL
TLAB - Tellabs, Inc.
AIG - AMERICAN INTERNATIONAL
RRI - Rri Energy Inc
STI - SUNTRUST BANKS INC
STEC - STEC Inc
VOD - Vodafone Gp Plc
FDX - FedEx Corporation
RDN - RADIAN GROUP
EQR - EQUITY RESIDNTL PRO
SUN - SUNOCO INC
KWK - Quicksilver Resources
NU - NORTHEAST UTILITIES
AAP - ADVANCE AUTO PARTS INC
CTV - COMMSCOPE INC
HTZ - Hertz Global Holdings
PLCM - Polycom, Inc.
AGCO - A G C O CORP

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 Folks. See you tomorrow !!!

AC

Labels: OCNF, THQI