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:



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` This entry was posted on Tuesday, February 12th, 2008 at 3:17 am and is filed under Day Trading, Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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