Isilon Systems (ISLN: 17.64 +1.26 +7.69%) recorded a new high in the last trading session. Short-term outlook for the stock is bullish. If in the next sessions new highs don’t happen, I expect to see a decline due to the overbought conditions. On the other hand, new fresh exposures on ISLN should be made only when the stock moves above 17.97. Stay tuned !!
THQ (THQI: 4.74 +0.29 +6.52%) - As I said in my last post about THQI, there were buyers in the stock on Thursday. On Friday, the stock rose 29 cents to $4.74, putting its jump last week at 12.4%. The stock was able to maintain its bullish nearest term bias and now seems comfortable stays above the 20 day MA indicating potential further upside recovery testing 5.11 ( 50-day moving average ). A Break above that area could trigger further bullish momentum testing 5.53 and 5.82 region.
OceanFreight (OCNF: 1.22 +0.2601 +27.10%) - The stock had a significant bullish momentum on Friday, break above $1, topped at 1.29 and closed at 1.22. The major reistance has been violated to the upside, confirms the bullish continuation targeting 1.63 in nearest term. At this stage, I’m a buyer only once it breaks through Friday’s high of $1.29 for the continuation move. Stochastics and the RSI are overbought but remain bullish signaling.
YRC Worldwide (YRCW: 0.338 +0.054 +19.01%) broke out Friday on strong volume and should continue all next week. From a technical perspective, the stock is in a short-term Bull Market with share price above 13, 20 and 50 daily moving averages. Let’s see if next week the stock will confirm the breakout and continue uptrend to 0.384. Short-term investors can buy with a stop at $0.28 and long-term investors can hold with a stop at $0.22. Stay tuned.
Banner Corporation (BANR: 2.16 -0.01 -0.46%) - The stock was technically a mess on Friday. Honestly, I think I will stand aside for now as nearest term direction is unclear. Looking at the technical chart above we can see that in longer term view price is consolidating in range area of 1.90 - 2.31 after a significant bearish momentum. Consistent move above $2.31 area could rigger further upside pressure testing 2.75. Initial support at 2.09.
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