Blackberry (NASDAQ: BBRY) There is possibly a bottoming pattern here with support found around $10.00. Although MACD is at negative region, the MACD signal line is turning up and a bullish crossover should be around the corner. 50SMA is showing rounding bottom. RSI 50-level shows support as well. I target $12.00 for BBRY for the short run. I don't see BBRY could cross above 200SMA in the coming months.
Click to Enlarge
Herbalife Ltd (NYSE: HLF) is coming back and making new highs again and again. HLF breaks above $67.69 resistance level last week and continues its bullish act this week. Volume is increasing steadily along with MACD and prices. Until there is a unusual volume, due to short squeeze or speculative trades with a intra-day price hike, I don't see a pullback in the short future.
Click to Enlarge
SOHU is another candidate for buy the rumors, sell the news. SOHU opened at new high and closed with dropping 2.66% after several partnership and deals are announced this week. I can't say for sure if SOHU is going to drop. But the risk-reward ratio does not seem good to be on the boat. Avoid.
Click to Enlarge
US Steel Corp (NYSE: X) Yes! Again! As I mentioned, X has tested the breakout point with a pullback and run-up. I target X for $22 in one month. Refer to my posting on Friday and Sunday for details of my analysis.
Apple, Inc. (NASDAQ: AAPL) totally proves the "buy the rumors, sell the news" saying again. AAPL has dropped more than 10% after Iphone 5c 5S were announced. Bearish MACD Crossover is around the corner. The bounce-back after the huge age is very unnoticeable and with little volume, showing there is very limited buying power in the market. For the past several behaviors, AAPL tends to drop after prices closing around upper B. Band. Even thought there is a golden cross with oversold signal in Slow STO. I don't think there is much space for AAPL to run up. It will eventually hit $400.00 level again and retest the support at $386.06 again.
Hovnanian Enterprise, a real estate company, has a breakabove in both price chart and RSI 50-level. The volume is average which does not give a very bullish sign. Plus, considering the MA(50) and rounding top MA(200), we should take a close look at how the movement develops.
Intel Corp (NASDAQ: INTC) Technicals are bullish with a breakabove of a downtrend, MACD Crossover and trading above both 50SMA and 200SMA. It had a nice setup since Septembers begins with a breakabove of the channel with a pullback. INTC is on the run again and RSI is still not at overbought level.
US Steel, another stock breaking above a channel, has pulled back to its breakout level, AND still above 200SMA level. RSI level has eased a little bit. The volume in the dropping days are quite little. Strong reading in MACD and the trend of its signal line. For me, U.S. Steel is the most confident pick I have today. I really don't see anything but very bullish setup from the price chart.
YOKU, acquired Tudou last year, has made a new 52-week high last Friday with a run-up of almost 9% with huge volume due to unusual volume on call options, as I predicted on Thursday. (Click here). Although it is a very bullish setup, I don't find any news, except integrating eith QIHU tools, which might be great enough to support its recent move. HSBC, JPM and DB all downgraded YOKU and reduced their target and last earning report was on Aug 08. Be Aware and Stay Tuned for now. I suggest selling your position if you read my post and bought the stock on Friday morning.
To all my Dear followers,
I have moved back to Hong Kong from New York last month and am now working at a Chinese-owned Asset Management Company as a Fixed Income Analyst. I have just resumed writing this blog. I am very delighted to see my number of followers on Twitter exceeded 1,000. I am aiming for 2,000. in 3 months. Please help me to spread my blog and Twitter if you like my analysis or if I helped to earn some fortune.
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.