Technical Analysis Day Trading Setups: 4/28/08
Apr 29, 2008 Day Trading, Technical Analysis
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???? is forming an awesome looking long term ascending triangle pattern along with a shorter term cup and handle formation in the making. I’m anticipating a breakout of the 2.62 neckline in the near future so a BUY was issued on ???? today with an entry price of 2.44 1/2 position fill.
We’ve been watching ???? for past few weeks waiting for the breakout of resistance and we finally got our chance for entry in this stock on the breakout above 1.26 resistance. I issued a buy alert near the close and entered at 1.36. The chart broke out of a great looking bullish trading channel with a short term price target near $2/share. I only bought a 1/2 position and will be looking to buy the second 1/2 if given the chance on a dip near the breakout/midpoint of mondays candle near 1.27.
Technical Analysis Day Trading Setups: 4/24/08
Apr 25, 2008 Day Trading, Technical Analysis
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???? is making a very bullish breakout above technical and psychological resistance at $1. The huge spike in volume today indicatates that it is likely to continue higher from this dollar area. Along with a postive fundamental outlook this is a recipe for profits in my book. ???? released very strong earnings which sparked this rally with some of the highlights as follows.
Revenue Increased 167% to $7.2 Million; Net Income Up 1016% to $2.0 Million -
“Our sterling performance in the third quarter demonstrates our ability to increase sales quarter-over-quarter and achieve profitable growth. Our revenue growth and substantial increase in net income are based on a number of factors, including increased customer demand for our products, expanded production capacity and stricter cost control.”
“For example, we started batch production for “……..” in February 2008 and expect to secure our first order and begin production in May of 2008. Based on our current and projected customer base and product lines, we are on track to more than double our revenue and net income for the full fiscal year 2008 compared to fiscal 2007.”
Technical Analysis:
As price is extended there is always the possibility of a pullback from here. But this is a very bullish breakout on heavy volume signaling that bullish momentum is very strong at this point. So i want to buy a 1/2 position Friday to catch the train if this runs big, as well as limit risk on a pullback so that i can average down if it does occur.
American Oriental(AOB) Making Its Comeback
Apr 25, 2008 Small Cap Stock Picks
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AOB has been in a Steady downtrend since it highs its recent highs around $14/share in late 07′ as the market has been unsteady most of 2008. Although it appears that after this negative momentum China looks to be making a rebound as a whole and along with it the undervalued growth stocks such as AOB. After hitting lows near 7 or a 50% drop from its highs in late 07′ AOB made a strong rebound while forming a bullish ascending triangle that broke out Thursday on increased volume suggesting continued bullish momentum from here.
Fundamentally AOB looks cheap among its peers in the biotechnology industry currently trading at a low P/E of just 14x earnings compared to the industry average 22x. Looking forward analysts are expecting continued strong growth for AOB of 1.02eps in 2009. Given these estimates we could give AOB an estimated fair value within its industry of 22.47/share found by multiplying forward earnings of 1.02 x the biotech average trading multiple of 22.03. Given that AOB’s fair value within its industry is 151% above its current share price of 8.95 this is a very appealing investment. I took Thursdays breakout as an opportunity to go long AOB.
Technical Analysis Day Trading Setups: 4/21/08
Apr 22, 2008 Day Trading, Technical Analysis
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???? is forming a great looking ascending triangle pattern which should result in a strong upside move of around 20% near .80 resistance if price breaks out from its pivot point of .68. If price breaks above .68 we’re going long and strong with a short term profit target near .80. DO WORK SON!
Technical Analysis Day Trading Setups 4/21/08
Apr 22, 2008 TTT.net Updates
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???? Made an awsome move today finally heading strong above the 13 ema short term trend indicator with heavy volume to back up this move which should result in higher prices ahead of us. Price broke the 1.70 resistance but with a 20% move its safe to say that we shouldn’t be surprised to see some profits taken before a continuation is in place. I alerted this stock today around an hour before the close at 1.68.
Technical Analysis Day Trading Set Ups: 4/17/08
Apr 17, 2008 TTT.net Updates
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???? made an awesome move today as it broke out from a great looking symmetrical triangle pattern to the companies record high with a huge spike in volume confirming that this breakout will likely have a follow up bull run. I entered long at 8.35 . second entry for this stock is near the midpoint of the breakout candle if given the chance near $8/share or so.
???? isn’t as volatile as the first stock but price made a great looking move to breakout from its bottoming trading channel on increased volume. I think we should see a 10 – 20% move up from here for us to capitalize on.
