Hi, everyone here is a quick update on a few stocks someone requested analysis from. I currently don't have the time to post charts, but I think there is enough details in each of my quick analysis.
About WAIT & HOLD signals:
WAIT: A WAIT signal usually means that there is either an imminent BUY or SELL signal. It could also be because that there is no current clear signals as to where exactly the stock may be headed, or simply that there doesn't seem to be much opportunity to make any decent return by taking a long or short position.
HOLD: A HOLD signal means that we already had a BUY signal, and the trend is still intact, meaning that if you decide to take a long position, you may still have the potential to achieve a decent return if you don't enter the position too late within the trend.
Dow Jones - HOLD: Since I announced the Dow Jones would pullback to as low as 9450 (actual was 9430) and gave a BUY on Monday and confirmed it on Tuesday when it bounced off this level, the Dow Jones has reached a year high. I am very optimistic towards seeing the Dow Jones go as high as 10100-10150 next week before pulling back, another minor move above current level will most likely confirm this prediction. I think it is very likely to see the Dow Jones above 10000 next week, and I expect to see it happen.
RIMM - WAIT (Imminent SELL signal with a down gap on Monday) : Went over $70 today which was bullish until it closed lower than yesterday, giving us an imminent SELL signal. RIMM will very likely be down on Monday, it is currently at a critical resistance level. If it does fall Monday, you can expect to see RIMM revisit its lows around $65.00.A close above $72.00 would be very bullish and a BUY signal. A move over $75.00 would a STRONG BUY.
C - HOLD : Starting to trend up slowly, currently a HOLD. Has strong support at its 50 day MA, currently around $4.40. A break over $4.85 would give us a BUY signal. The next resistance level would then be at $5.25, and once over this level we will have a STRONG BUY signal.
GE - WAIT: A break below $16.00 would give us a SELL signal, where GE could fall back as low as $15.00-$15.25. A break over $16.50 would give us a MINOR BUY signal. The next resistance level is at $17.50, and a break above this level would give us a STRONG BUY signal.
AIB - HOLD (imminent SELL signal): AIB is trending up, but the trend could be broken if it fall off current levels. AIB has minor support at $8.00, and a fall below its 50 day MA at $7.50 with two consecutive down days below this level, would give us a STRONG SELL signal. A close above $10.00 would be a STRONG BUY signal.
ENER - WAIT: Major trend is still down, did not manage to break the trend 3 weeks ago when it fell back down. Currently has strong support at $11.00, and you may see it move up very soon, and if it does go above this level it would be a MINOR BUY signal, where ENER could perhaps go as high as $13.00. A move above $14.00 would give us a BUY signal, a move below current levels would give us another SELL signal. You may be able to make a decent return, +18.00% potential in the short term, within 2-3 weeks, but the major trend is down, and in that regard ENER is a SELL, long term.
LDK - SELL (imminent MINOR BUY signal): Major trend is down, strong resistance at $8.50 and $9.00, just like ENER you may see a small move up within the next few weeks, but very minor gains if any. It has not yet broken its minor trend down, a move above $8.50 would give us a MINOR BUY signal, for which I would not take the risk of taking a long position with because of more resistance at $9.00. LDK is a SELL for now, with an imminent MINOR BUY signal.
ABK - WAIT (imminent BUY signal): ABK today had a hammer candlestick, which could give us a morning star formation, if we have a gap up on Monday, which would give us a BUY signal. A move above $1.60, would be enough to give a STRONG BUY signal. There is low risk of taking a long position at the current level since it stands and has bounced back today off very strong support level, at its 50 day MA. However keep in mind that cheap priced stocks such as ABK are very high risk, and I personally will never take a long position on a stock worth less than $5.00 (and possibly in the future less than $10.00), no matter what the technicals say. ABK has the potential to move up as high as $1.80 and $2.00 in the short term. A move above $2.00 would be a STRONG BUY. However a move below $1.50 and its 50 day MA, would be a STRONG SELL signal.
MBI - SELL (imminent STRONG SELL signal): MBI has just crossed its 50 day MA, giving us a SELL signal. Another down gap on Monday with the share price staying below its 50 day MA would confirm the SELL signal, and would become a STRONG SELL. MBI's next support level is at $5.00.
PMI - WAIT: Major trend is up, has seen a lot of red lately, but currently stands at a strong support level above its 50 day MA. We have an imminent BUY or SELL signal for Monday. A move below would give us a STRONG SELL signal after two consecutive days below its 50 day MA. A move up (bounce up off support) would give us a BUY signal, and two consecutive up days would give us a STRONG BUY. If that happens, there is very strong possibility of seeing the trend up continue and see PMI move over $5.00. Its next resistance level is at $4.00 (minor resistance), and it has strong resistance at $5.00 (a move above this level would give us another BUY signal).
LYG - SELL: LYG has given us a STRONG SELL signal a few days ago when it broke below its 50 day MA, and has since continued the trend. LYG is still a SELL but stands a minor support level, where we may see a small bounce back up. A move below the current $6.00 level should send LYG straight to $5.30, where it has strong support at its 200 day MA. The trend is currently down.
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