` Gary Investing Blog: 09/13: TSLA, X, YOKU, SINA


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Friday, September 13, 2013

09/13: TSLA, X, YOKU, SINA

Tesla Motors, Inc., TSLA, a stock runs up almost 400% since the beginning of this year, has pulled back a little after reaching record high, $173.30. TSLA has been steadily climbing up within the upper half of the Bollinger channel. The volume is decreasing while RSI is going back to reasonable level. Support is tested at $158.51. I suspect TSLA will reach back to its historical high and attempt to breakabove in one week or so.

 US Steel Corp (NYSE: X) has broken above the channel formed since this May. However, high reading in RSI and the 1.37% drop yesterday could end its bull. Since 50SMA has a bottoming pattern, I think X will pullbacks to $18.50 level before we see another round of buying.

Chinese internet concept stocks, including YOKU has shown appreciation due to optimistic and speculation on profits on chinese social network websites. YOKU has been trading with huge volatility since Aug. A tight channel has formed for the past two weeks with a 5% jump with a spike in volume yesterday. YOKU still closes within the channel. With the RSI greatly supports by the 50-level, YOKU can run up to $26.37 if trend continues.

The picture on SINA is better and more bullish than that of YOKU. With a bullish MACD Crossover around the corner and golden cross in June, SINA has trying to breakabove its high in August again. Heads up for a double top pattern if the uptrend turns around with a huge volume. 

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