Technical Analysis Day Trading Opportunities: IDMI, MEMY, CKEC, ININ, MDRX
Feb 12, 2008 Day Trading, Technical Analysis
IDMI
Technical Analysis:
Here is a shorter 10m intra-day chart. We can see price action nearing support near 1.80 – $2. I really like this setup and think we could see a continuation to the upside especially if price breaks the 2.54 resistance. I will purchase a small position with a tight stop tomorrow near this support level. And will buy again if price breaks out above 1.54.
MEMY
Technical Analysis:
MEMY has a really strong pattern here that gives us an opportunity to capitalize on a very short term high profit % trade. Price action broke through horizontal support with volume confirmation prior to the breakout and the day of. I believe price action will make a quick run near $1/share. I want to buy this tomorrow.
CKEC
Technical Analysis:
After being stuck in a very bearish descending channel for quite some time CKEC appears to making a come back in favor of the bulls. Price dropped near $4/share and made a quick and strong jump near $7/share with increased volume. Currently price is trading in a short term ascending triangle pattern. A breakout above 7.16 we should go long and should be able to pull out a very quick 5-10% + on this trade.
ININ
Technical Analysis:
long on breakout above $18 /share
MDRX: SHORT
Technical Analysis:
