Posted: March 7, 2014 Filed under: rectangle, Support | Tags: $ACI, Arch Coal, basic materials, coal, Walter Energy, WLT
First up is Arch Coal (ACI) with a 5 months consolidation rectangle. Watch a close above $4.80 for an implied target of $5.80. Note that the move could be swift as 20% of the stock float is short.
Next is Walter Energy (WLT) no pattern here but interesting levels. Note the red line that has been touched four times, twice in 2013 and twice this year.
Posted: March 3, 2014 Filed under: H&S Bottom, Reversal | Tags: $DNDN, Dendreon, Immunotherapy, Prostate Cancer, Provenge
Dendreon Corp (DNDN) is a biopharma co. developing immunotherapeutic meds for cancer patients. More on their Provenge drug and how it works which is interesting here
From the chart perspective, DNDN is forming a 6 months Head & Shoulders bottom with 3.60 as the neckline. Will selling Provenge in Europe act as the reversal ? Implied target is $5
Do note the gap above which usually serves as resistance.
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Posted: February 26, 2014 Filed under: Ascending Triangle | Tags: $FTR, Frontier Communications, telecom
Frontier Communications (FTR) completed an 18 months ascending triangle by closing above $5 on 3.7x the avg daily volume. The move was initiated by a 3 months consolidation pattern in yellow. Implied target is $7. Note that FTR has a dividend yield of 8%.
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Posted: February 24, 2014 Filed under: H&S Bottom, resistance | Tags: $CLI, Mack-Cali Realty, REIT
Mack-Cali Realty (CLI) will complete a 6 months Heard & Shoulders bottom by closing above 22.50.
Implied target is $26 or the long term resistance trend line shown on the weekly chart. Stop loss @ 21.90.
Posted: February 20, 2014 Filed under: Basing pattern, Double Bottom | Tags: $GSS, GLD, gold, Golden Start Resources
This is a follow up post to Shining Metal Play Golden Star Resources (GSS) has reached its implied small double bottom target and is now seeing some profit taking. An 8 months rounding or saucer-like pattern is now in play. Neck line is at 0.85 and implied target is $1.25.
Posted: February 19, 2014 Filed under: Double Bottom, Reversal | Tags: $AMSC, American Superconductor Corporation, megawatt-scale solutions
Super is probably one word that does not describe American Superconductor Corp (AMSC) stock performance for the last 3 years. AMSC has been in a relentless downtrend taking the stock from $44 to less than $2.0.
Taking a look at the stock today, we see a possible attempt for a turnaround on increased volume through a 3 months Double Bottom formation that failed yesterday to close above the neckline at 1.83. A decisive close above the latter level, indicates an initial target of $2.23 and maybe the end of the downtrend?