Today’s chart scan highlights China Armco Metals (CNAM) Sodastream (SODA) and Acxiom (ACXM). Low float stock CNAM is speculative by nature, but the chart shows some interesting volume spikes in the last 5 months. With a float of just 8 million shares and market cap of 10 million CNAM could see a major spike very soon.
Acxiom (NASD: ACXM) ATP Oil & Gas (NASD: ATPG) Talisman Energy (NYSE: TLM) Sonus Networks (NASD: SONS) are highlighted on our most recent chart scan. Acxiom has arguably the most tradable chart above with a $14.25 neckline. Sonus Networks and ATP oil and gas each have earnings announcements this month. They could see run ups heading into earnings release dates.
Priceline (NASD: PCLN) Magic Software (NYSE: MGIC) Motorola Solutions (NYSE: MSI) and Micros Systems (NASD: MCRS) came up on our scans as a result of ascending triangle formations. In particular Priceline (PCLN) which broke above its $550.00 neckline resistance level. Any pullback towards the midpoint represents a possible re-entry point ahead of earnings announcements at the end of the month.
Ford Motors (F) is testing 2-year support after making a recent high around $19.00 during earnings season. Since its high the stock has been hammered on concerns of slowing growth in Chinese markets and stagnant US markets. Today’s candle and low at $13.85 represents a key support level as shown on the chart above.
Elong (NASDAQ: LONG) made the classic head & shoulders pattern shown on the chart below. Breaking below the $16.50 neckline this week, eLong looks extremely bearish. The Chinese online travel service provider announces earning February 18th. Although we missed the original move lower, eLong may provide a short term bounce for a short entry near the neckline. The China based online travel company is in a sector seeing huge growth.
Toy manufacturers Hasbro (NASDAQ: HAS) and Mattel (NASDAQ: MAT) have made major moves higher in the past 12-month period. However, recent poor earnings comments coupled with weak consumer spending has sent shares of each company well off their highs. Both Hasbro and Mattel are testing key support levels displayed on the charts below. Hasbro Free [...]
Southwestern Energy (SWN) and the United States Natural Gas Fund (UNG) are two stocks heavily dependent on the price of natural gas. Each of these stocks has broken above key long term resistance in recent trading. As the United States gradually moves toward energy diversification, these stocks should strengthen accordingly. Watch for bottoming action in [...]
Peet’s Coffee & Tea (NASDAQ: PEET) and Green Mountain Coffee (NASDAQ:GMCR) are two coffee stocks showing up on our radar. With the price of coffee beans moving higher you have to wonder how much longer these two stocks can run. Margin erosion could occur in the near future as increased coffee costs are difficult to pass on to the consumer. Premium names could be punished as consumers trade down to cheaper brands.
Honda Motors (NYSE: HMC) and Olympus Pacific Minerals (TSE: OLYMF) popped up on our chart scan today. Honda Motors features a spectacular looking short and long term chart. Breaking above its $37.25 neckline recently, the stock looks poised to move higher. Olympus Pacific Minerals is a micro-cap gold mining stock forming an ascending triangle. The stock represents an outstanding speculative gold investment for 2011.
E*Trade Financial (NASDAQ: ETFC) and Goldman Sachs (NYSE: GS) are two investment brokerage stocks showing up on our radar today. E*Trade has formed a 5-month ascending triangle formation with a $15.60 neckline. It could make a major move as it nears the apex of its triangle pattern. Goldman Sachs is rallying off its June “bear trap” and looks to test the $178.00 resistance trendline.