Wednesday, July 12, 2006

CHARTERED

Stocks went down in june due to downgrade by Dresner in early june.
It touched a closing low of 1.29 on 29june but since then has been moving up steadily.
Results due 21july....potential pre-result play stocks

In 1Q06 best entry timing was 6 days before results day
This time round, the stock has started moving yest (8days before results)....and breakout today some more despite weak market...positive divergence

Technical signs looking good :
Parabolic positive
RSI and stochastics forming higher lows
MACD already cut up

You be the judge and see if it is worth trading, if you don’t like the mother, can look at the daughter (warrants) too, maybe more sexy

1 comment:

  1. Anonymous12:38 PM

    Hey Streamy, first time catching your blog here. I'd say in the next 3-4 weeks, markets will stay very choppy at best and I doubt we'll get run-away prices. Earnings season will be distingusihed by those companies who don't meet expectations ( these will get crushed like Sarin, Magencomp etc ) whilst those who meet expectations are unlikely to charge higher that soon.
    I think one needs to be patient at this stage of the summer months and keep watch of weekly indicators on the chart.....My hunch is market has another downside bias but more shallow than the one we saw in May-June.

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