What the charts of these 7 tech stocks are saying - BloggingStocks
Posted March 24th 2008 10:10AM by Filed under: , , , , , , , While I believe much of the terms action in the most actively traded engineering pillory to be rather unpredictable, there are specific terms points at which the likelihood can be in your favor. Because so many bargainers believe in chart reading, or technical analysis, the terms action often goes a self-fulfilling prophecy (as I've written about ). So, let's take a expression at some popular name calling with traders: (NASDAQ: ), after a large drop, have already set in solid crabwise terms action and if it can interrupt $140, there looks to be a rather clear way to $160. (NASDAQ: ) have weathered this violent storm incredibly well, putting in a solid dual underside in the low $80s and more than recently, holding the cardinal $100 level. There's calm opposition at both $110 and $120, so a large jailbreak doesn't look likely anytime soon. (NASDAQ: ) is still in the thick of a strong yearlong uptrend, a mere $10 off its highs. On any marketplace rebound, I fully anticipate this stock to interrupt out to new highs. (NASDAQ: ) pulled off a massively bearish multi-month caput and shoulders chart pattern, but since its concern is really humming along, I wouldn't be caught short. (NASDAQ: )'s chart is even more than bearish; I'd never seek to catch such as a well defined falling knife. But its concern is healthy until proved otherwise, so I wouldn't short it either. On the other hand, Chinese hunt engine company (NASDAQ: )'s chart offerings such as a ridiculously perfect bearish caput and shoulders pattern, it'd be irresponsible not to look to short the stock -- especially on any bounciness -- no substance how good concern is. And last, but certainly least, is the hugely traded, but disappointingly non-volatile (NASDAQ: ) and (NASDAQ: ). Bleh! Sure, their pillory might be bottoming, but what's the top -- $1 or maybe $2 per share? C'mon, you're break than that -- I'd avoid both stocks!
Timothy Sykes composes the blog , is a former hedgerow monetary fund manager, star of the television show and writer of the book,