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Thursday, November 12, 2009 

Trade Ideas for Friday - Curis, China BAK Battery and DryShips

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CRIS is trading in a tight range between $2.10 ( 13 dma ) and $2.21 ( 50 dma ). I think the market is waiting for fresh news to define the trend, however if the stock breaks the 50-day moving average , then that is a bullish sign as higher prices. From a technical point of view, with KD going up the stock is probably ready for a rally. Short term traders can go long if stock breaks the level of $2.21 ( 50 dma ) and thereafter stock can target the level of $2.37.

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DRYS is slowly under accumulation based on the Chain Money flow indicator also still showing positive divergences on MACD. The short term stochastic signal is showing some positive sign. It has resistance at $7.07 and then at $7.74. On the downside, it has strong support around $6.44.

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CBAK - China BAK Battery Inc. offers a low risk play here with the major support near by. This could provide a great opportunity to get long for a few bucks. CBAK price action has remained under its daily 13-day moving average ( white line) for some time, however, a rising daily MACD momentum has begun a bullish divergence suggestive of a price reversal at these price levels. A break above $2,95 would be bullish. Let's keep an eye on it.

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 !!!


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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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