|
|
Rank: Advanced Member
Groups: Member
Joined: 6/3/2009
Posts: 64
Location: US - TX
|
Date : 6/9/09 Stock to watch on 6/10/09 Ticker: AMKR Name: Amkor Technology Inc Sector: Semiconductors Sector leader: STEC RS: 89 - Source: IBD Chart cleared a short term 'Cup with Handle' formation today on heavy volume. Price close at 4.92 MACD recently turned positive with a crossover Slow Stoch. recently turned positive with a crossover Weekly (Long term) term trend is up with MACD and Stoch trending up. 52 week high is 11.80, which gives this stock a good potential to double easily to around 8 bucks in a monthly trend.
Possible Trade Tactic: Watch for a stop at 4.56, right below trendline and SMA: 10. Support line is at 4.58 level as well. This will be a downside of 7% Potential upside is right below $6 range. This provides a short term profit potential of 17%
tkool99 attached the following image(s):
|
|
|
|
|
|
Rank: Advanced Member
Groups: Member
Joined: 4/16/2009
Posts: 54
Location: TX
|
I like it as a follow through momentum play. The spinning top sitting on the 20 EMA on 6/8/09 is a setup I try to find for a easy trade.
|
|
Rank: Advanced Member
Groups: Member
Joined: 6/3/2009
Posts: 64
Location: US - TX
|
|
|
Rank: Advanced Member
Groups: Member
Joined: 6/3/2009
Posts: 64
Location: US - TX
|
|
|
Rank: Advanced Member
Groups: Member
Joined: 4/16/2009
Posts: 54
Location: TX
|
First thing I did when I began trading was read the Chart School section at Stockcharts.com, it's a good read. In order to find that setup, scan for doji, hammer, or NR7 (1st narrow range candlestick in 7 days) and close over 20 EMA (or 20 SMA).
|
|
Rank: Advanced Member
Groups: Member
Joined: 6/3/2009
Posts: 64
Location: US - TX
|
To watch for 6/11/09
1. EXC
2. CBG
3. OVTI
4. MA
5. XLU
Good luck!
|
|
Rank: Advanced Member
Groups: Member
Joined: 6/3/2009
Posts: 64
Location: US - TX
|
Picks for 6-12-09 All seem to possess bullish technicals - MACD, Stoch, and CCI and moved on good volume. Let me know your thoughts. Good Luck!
tkool99 attached the following image(s):
|
|
Rank: Newbie
Groups: Member
Joined: 6/10/2009
Posts: 7
Location: New Jersey
|
Max wrote:First thing I did when I began trading was read the Chart School section at Stockcharts.com, it's a good read. In order to find that setup, scan for doji, hammer, or NR7 (1st narrow range candlestick in 7 days) and close over 20 EMA (or 20 SMA). Thanks max for sharing this info...
|
|
Rank: Advanced Member
Groups: Member
Joined: 4/16/2009
Posts: 54
Location: TX
|
PRGO looks great (wait for it to break overhead resistance on volume); on my watch list. Take at look at AMAT chart on May 25th. Do you see that doji setup with a lower stochastic cross? I got a monster trade out of AMAT by running it up to the 200 EMA. You asked about SMA and EMA. I usually check both to see watch fits the stock better. Here the 200 EMA is the resistance that traders are using! AMAT looks really tasty but be careful it's a symmetrical triangle that can break either way.
|
|
Rank: Advanced Member
Groups: Member
Joined: 6/3/2009
Posts: 64
Location: US - TX
|
Thanks for your comments Max, I'll keep that resistance crossover in mind.
Congrats on the AMAT trade, that sure looks sweet!
Wasn't able to see the triangle pattern you mentioned. Can you elaborate please?
|
|
Rank: Advanced Member
Groups: Member
Joined: 4/16/2009
Posts: 54
Location: TX
|
|
|
Rank: Advanced Member
Groups: Member
Joined: 4/21/2009
Posts: 38
|
Nice Hammer, stop in 6.70 if is open a position, for a confirmation wait for a white candle this Monday. 
|
|
Rank: Advanced Member
Groups: Member
Joined: 3/28/2009
Posts: 95
|
DSCO  DSCO was up on a down day after breaking out from consolidation. Positives: Very high volume. Price closed above resistance at 1.24. Negatives: A drug stock waiting for FDA approval.
|
|
Rank: Advanced Member
Groups: Member
Joined: 4/16/2009
Posts: 54
Location: TX
|
DSCO looks explosive. You have the volume signal; I'll be trading this one tomorrow for a fast scalp.
|
|
Rank: Member
Groups: Member
Joined: 4/5/2009
Posts: 24
Location: indiana
|
What do you folks think of FIG? Is it forming a cup and handle? Note that there is a SPO out.
What are your thoughts?
|
|
Rank: Advanced Member
Groups: Member
Joined: 4/16/2009
Posts: 54
Location: TX
|
I see a descending triangle (upside down cup & handle). Are you looking at this as a short, and what do you mean by "there is a SPO out"?
|
|
Rank: Member
Groups: Member
Joined: 4/5/2009
Posts: 24
Location: indiana
|
A SPO is "secondary public offering". Right now Fig is selling 40 million shares and the last price was 5.26 per share. Yes, the outstanding shares are diluted but the bottom line has been improved. If the SPO is fetching $5.26 then there's a lot of investors that like this company. The "cup and handle was formed over 9 months.
|
|
Rank: Advanced Member
Groups: Member
Joined: 4/16/2009
Posts: 54
Location: TX
|
Oh Ok. I didn't kick the chart back. Unless the stock retraces to the neckline and completes the handle this is a fairly risky medium-term swing play. I think it'll work as a short-term short though.
Update: On Thursday June 18th, you've got a descending wedge . If FIG kicks up tomorrow you'll get a buy signal from stochastics, and FIG can turn into a nice long. If it can show some strength you'll get the handle! This stock is on my watch list for Friday, June 19th.
|
|
Rank: Advanced Member
Groups: Member
Joined: 6/3/2009
Posts: 64
Location: US - TX
|
|
|
|
Guest |
