Royale Energy (ROYL: 1.97 0.00 0.00%) - The short-term bullish correction should remains intact as long as the trendline support (green) hold. The trendline support area technically is a good place for a long position. I’ll watch the stock closely on Friday as there looks to be good upside potential in this trade.There is a possibility of a double bottom formation in THQ Inc (THQI: 4.2701+0.0901 +2.16%). The divergence in MACD is pretty impressive and I also see the stochastic indicator suggesting an extreme oversold condition.
Motorola (MOT: 6.519 -0.001 -0.02%) - The stock attempted to push lower today, but found a good support at 6.50 as you can see on my daily chart above. The bias remains neutral in nearest term and I am still in wait and see mode but we could have upside rebound from here. MOT hit a high of $6.58 on the day, which is resistance for Friday’s upside move.
Shares of Cell Therapeutics Inc. (CTIC: 0.402 -0.0218 -5.14%) surged 13 percent to $.42 per share on today’s trading sesssion, after the company said that it has made a deposit to cover the costs of all of its convertible debt coming due in 2010. The company said it deposited $39.3 million in cash with U.S. Bank National Association to eliminate shareholder concerns about its ability to pay off the debt. Looking at the technical chart, CTIC has chance to back to rally as %K line is now back on top over %D line. However with MACD still trading below 0, the stock may encounter some resistance around 50 day moving average at $0.46. If CTIC can break this resistance level we should see a strong upside move. Overall, the bias remains neutral in nearest term. Expected range remains at 0.5-0.30. We need a break from this range to see clearer direction. There looks to be good upside potential in this trade, so watch the stock closely on Friday.
Generex Biotechnology (GNBT: 0.3301 0.00 0.00%) - The stock bounced on Thursday as the market rallied off lows. GNBT closed positive on the day as it looks to be ready for a reversal move. I’m a buyer of GNBT once it breaks through today’s high of $0.34. This stock can pop big time on any positive news, so watch it closely on Friday.
No comments:
Post a Comment