"Everyone has a plan 'till they get punched in the mouth" - Mike Tyson

April 13, 2014

A few Master's weekend charts

AKAM is pulling into the 2013 high pivot.  51, 49 and 47 are fib confluences.  Maybe this isn't close to the right time to buy a position, but it doesn't hurt to look.


GLNG - what superb strength here.  Energy is the strongest space in the market and this is a European nat gas shipping play.  It could easily get hot on any fresh Russian tensions.


HNRG is another energy name just breaking out of a 3.5 year downtrend





EXAS - one of many fresh biotech breakdowns.  The story is very interesting (non-invasive colon cancer screening), but we have to respect risk.


ENTR - If you noticed the huge semiconductor rally to 10 year highs, you didn't notice this name, because it hasn't made a 52 week high since 2010.  It could be in for a huge drop below support here.


This is THE key stock for Europe IMO.  It wedged up for a year and now it's breaking down.  If it can't hold horizontal support look for a test of 40.


This software stock ELLI has given up it's gains off the Feb low in stupendous fashion.  It has horizontal support down to 22.50, but it's very vulnerable to a sharp decline.


Alternative energy is sitting on trend support.  Junk solars have broken down and chinese solar YGE was out with a warning of soft chinese demand.  What's next?


CREE - sitting on long time support, the momentum and relative strength left this name a long time ago.  We can also see some MACD divergences that have meant nothing to the stock price.  While ruling out a bounce while a stock is at support is never a good idea, a breakdown could set up a 10+% down day.


Reminder:

All ideas shown on this blog represent the authors opinion based on the data available.