Wednesday, February 2, 2011

Stock Charts For Wednesday

5 Bullish / 1 Bearish

Apple (AAPL). Looks like its headed to new highs, but want to wait for a break above 350 before getting long. Seems to like to consolidate in a 20-25 range, so target 370-375 on a break.

Coherent (COHR). Gapped higher on Friday on massive volume. No attempt to fill the gap even a bit. Each day closes above its open. Wants higher. Target 60.

Enersys (ENS). Coiled and ready for action. Watch for a break above 34 on volume. Target 36.50 then 38.50.

Ultrashort Treasury ETF (TBT). The experts have been saying that yields have nowhere to go but up for a couple years now. Look like they may finally be right. Watch for a break above 40 to target 43 initially.

Westport (WPRT). This stock has been trying really hard to put in a floor @ 15.50 over the past 2 weeks. Renewed concerns over the security of future oil supplies and the need for a natural gas energy policy could put this one in focus again. MACD and RSI turning up. Good risk/reward here, but under 15.50 get out fast.

Monster Worldwide (MWW). After dropping 20% on Q4 earnings miss on Friday, MWW has barely been able to bounce. Bearish engulfing candle today, and closed below its 200 day ma. Particularly concerning given the strength in the overall market. Initial target 13.50.

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