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Sunday, January 20, 2008 

Stock to watch next week - RIMM, GOOG , CNXT, ADCT, AUXL, JASO

Another trading week has gone and more bad numbers investors have to record. Investors, who have started the year looking for a rebound, have been strongly punished again with the continuation of the declines in the share prices. The uncertainties behind the credit market, macro economic numbers and the earnings report from the big companies like Intel, have brought more reasons for the table to think in a recession scenario in the months to come. So, the question that I would like to put here for you folks is? Will be next week the start of the promised rebound or will be another stressfull week where Bears will completely control the market again? Please send me your tips to share with the others, who are always looking for some orientation to make the right choices in the market. Enjoy your weekend and for some hours forget the rest !!!

Chart courtesy of stockcharts

JASO appeared to be consolidating at these levels after the highs in December, but when the short-term downtrend broke the long-term uptrend, JASO gaves the first sell signal. If support is broken at $55 during next week, then expect a move to $50. Within this volatile enviroment It's better to stay on the sideline now until the buy or sell signal is more clear.

Chart courtesy of stockcharts

AUXL uptrend is trying to break resistance at the $31.25 level. If resistance is broken, then there is no resistance above. AUXL has limited downside risk with support at the $28.35 level.

Chart courtesy of stockcharts

In the last trading sessions, the stock found resistance at around $14.48 ( 20 dma ) and declined. This is usually a negative signal. The only positive sign is MACD which shows the stock may be on a bounce back rally. Wait for the confirmation. Buy point will be when the price breaks $14.48 mark on heavy volume.

Chart courtesy of stockcharts

CNXT established a bottom around $0.57. The recent spike upward has broken the short-term downtrend at $0.65. If CNXT breaks resistance at $0.75 ( 20 dma ), then it becomes a buy. Indicators starting to turn up here, and the fast line crossed over the slow line over this week. Stay tuned on her. Earnings report on Thursday.

Chart courtesy of stockcharts

Google broke below support or $622 in a big way over this week, so now $622 becomes resistance. With today's relatively high volume suggests around $600 the possibility of an upside is likely.

Chart courtesy of stockcharts

RIMM - Looking at the daily chart above stock has major support at $85, but also strong resistance at $82.10 on its 200 day moving average. Chart also shows weak sign as the stock is below both 13 day and 50 dma with MACD well below 0. However KD shows possible rally as K line is now a bit on top of D line.

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 weekend !!!

AC

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03:39 | |

Sunday, January 13, 2008 

Solar Stocks in review - AKNS , CSUN , JASO, FSLR , SPWR

There is no doubt the solar stocks are hot. Solar stocks had a huge run up in 2007, but 2008 could be a different year for some of them, we may see some price stabilization or some profit taking, but honestly is too early to predict some possible scenario, it will depend of many factors, and one of them is the current speculative high price of Oil. Even after 2007 phenomenal stock price increase, Investors interest in solar-sector stocks continues to rise, this sector continue under the attention of many players on the market. I have been watching the solar sector for a while now and honestly I’m now more cautions than I was before, concerning the current instability in the general markets, that for sure should contaminate also this sector. Anyway, this is the sector of the future, from now on greens energy’s will be always on focus. I am going to publish below several charts and some comments of some of the big players of this sector.

Chart courtesy of stockcharts - Click on chart to enlarge

This stock is sitting right around the 50 dma as the first support, however there are some indicators showing bad indications to play on the long side. For example, MACD has issued a bearish signal, since the Fast line has crossed below the Slow line. Also, RSI is now in a bearish territory, below the 50 level. With the current short trend to the downside, this suggests that prices will continue to decline, but in this case it will depend a lot of markets mod too. Buy point would be on the day it blows through $240 on heavy volume. So, keep an eye on her.

Chart courtesy of stockcharts - Click on chart to enlarge

If $102 major horizontal becomes firm and sustained support, the stock should test its 50 dma soon, is simply a question of time. However, it's very important to point out, that indicators are all pointing to a weakness confidence on stock, such MACD and RSI, so before enter long at these levels, wait for a confirmation. The stock has chance to start new rally as K line is now back on top over D line indicating buy signal, but it seems to me too early to enter.

Chart courtesy of stockcharts - Click on chart to enlarge

JA Solar shares were up on Friday more than 7% to $72.98, with more than 3 million of shares changing hands. This is one of the most bullish stock charts on the Solar Group. The break of $76.50 level with heavy volume should be the next buy point on JASO.

Chart courtesy of stockcharts - Click on chart to enlarge

China Sunergy came back to test the breakout area. Stock may provide a good enter here, however it will depend of behaviour markets. Support for stock is now at $11.50.

Chart courtesy of stockcharts - Click on chart to enlarge

AKNS broke out in December and pulled back to test breakout area. However the decline in share price was made with low volume, so does this mean that Bulls are still controlling stock. Keep an eye for a bounce.

Chart courtesy of stockcharts - Click on chart to enlarge

Within the semiconductor sector, one stock that caught my attention last week was CNXT, as I mentioned here on Wednesday. Stock have lost nearly 50% of their value since December. Conexant shares finally gained some momentum on Friday, gaining more than 10% to $0.65. Looking at the daily chart, we can see weak signs as the stock is below both 50 day and 200 day moving average with MACD well below 0. However, ROC shows the stock is oversold and with volume spiked as K line crossed on top of D line, this is probably the time that the stock would finally reverse the downtrend. So, keep CNXT in your watchlist.

isclaimer : 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 weekend !!!

AC

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17:00 | |

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  • I'm a 44 year old Independent Trader using proprietary technical analysis with more than 20 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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