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Monday, April 14, 2008 

Stock Picks and Trade Ideas for next week - CIEN, CHINA, HANS, FSLR, NTRI

Chart courtesy of stockcharts ( click to enlarge )

NTRI was one of the best performances over last week on Nasdaq, gaining more than $5 in two days . Nutrisystem on Tuesday announced a better-than-expected first-quarter sales forecast and set a transition plan for its chief executive post. Company said it expects to post first-quarter revenue of $216 million and operating profit of $21 million to $24 million, ahead of Wall Street estimates. From a technical point of view, the company may be able to recover lost momentum after declining for the past 9 months. Since the highs of $74.09 in July, shares have fallen more than 70%. At this point, there is a high level of probability that we have seen the bottom, and stock may be ready to go higher from here. A long position now should be seen as the best idea for stock. The level of short interest, also might prompt in future more rallies like we saw on Tuesday. The fundamentals are improving, the international expansion plans are in place and the better-than-expected outlook showed signs that the company had room for growth. As you see, there are realistic reasons to believe that the worst may be behind us, and this could be a good time to back up on stock again. The recent decline should be seen as a healthy movement after the huge spike in share price that easily brought all indicators to overbought conditions. So, for the coming days I expect a continuation of the upward movement, to fill the gap around $23. With MACD above 0 and K line above D line, once the profit taking is over we should see the stock continue to go up strong.

Fresh news for NTRI -
Diet company NutriSystem Inc. will replace Frontier Airlines Holdings Inc. on the S&P SmallCap 600 on Tuesday, Standard & Poor's said Friday. Click here to know more. With a low PE, tiny float and a high short interest, it seems like everything is perfect for a pop Monday.

Chart courtesy of stockcharts ( click to enlarge )

FSLR - The stock looks to be forming a bullish flag here. Buy point is on the day it breaks the upper line on heavy volume.

Chart courtesy of stockcharts ( click to enlarge )

HANS fell out of the $37 support, but true support is near $34.44. If this level falls it will probably head to $32.50 at least.

Chart courtesy of stockcharts ( click to enlarge )

CHINA - CDC Corp. shares are trading in a long sideway since January. I dont know what direction CHINA will take after being in a long sideway movement and I cant find any helpful tool that can indicate what way the price will go. MACD and RSI are losing some ground but both are still in neutral zones without any indication to sell. One of the weakness is KD where K line is still below D line and when the KD trend reversed it would be a great time to buy.

Chart courtesy of stockcharts ( click to enlarge )

CIEN - The stock is still trading within an upward channel. MACD is starting to get bearish though but it looks like moving averages are providing strong support. CIEN is coming back to test support near the breakout area $30. The stock price is looking good if tech bounce here.

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 !!!


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Great NEWS for NTRI, and great recover on Friday after hours.
I definitely will buy it on Monday

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About Me

  • I'm a 48 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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