Tag Archives: stock

Hewlett-Packard Co (HPQ) Bear Flag Chart Pattern

2 May

Looks like a bear flag on Hewlett-Packard. It is rising on low volume. Beware longs!

Hewlett Packard Stock Chart - May 2, 2013

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Raymond James Financial (RJF) – Added To Watchlist

30 Apr

I added RJF to my watch list today. It has gone from a high of 48.22 on 3/20/2013 and has dropped to $40.24. This gives enough room for a nice potential swing trade. It has had three consecutive down days with the second and third day showing smaller candles and lower volume. The last candle is a nice upward hammer which I always like. Also, it is near both the 200 day moving average and up trend line

I’ll look for an up day within the next couple of days to start a long position. If the price breaks below the trend line, I’ll remove this from my watch list. Here’s is RJF’s stock chart today:

RJF (Raymond James Financial) Stock Chart

Nam Tai Electronics – Added to Watchlist

30 Apr

NTE stock had a huge down day today dropping 31% and extremely high volume but formed a nice wick by end of trading day today. Resistance for this stock seems to be at the $6.50 level so I decided to add this stock to my watch list. Looking for it to have two or three more down days towards resistance, and then, hopefully a nice swing low develops. Stochastics reads 13.96 and pointed downwards.

I put this on my watch list more as an interesting case study than something I would actually trade. The reason is I haven’t studied many cases in which a stock drops 31%. Is a stock with such a large percentage drop in one day able to recover in the near future? Does support and resistance work in these types of instances? As they say, watch and learn.

Here’s NTE stock chart for today:

NTE stock chart 4/29/2013