Stock Trading Predictions & Technical Analysis: TIVO

Wednesday, October 21, 2009

TIVO - Waiting & BUY or SELL

TIVO - WAIT

TIVO is currently struggling to go over and close above its resistance level of $11.66, and today have given up all gain closing lower. Today we can observe a shooting star, which is usually the sign of a top. However, TIVO did break above critical resistance at $11.00, and has been holding up since. It may take more time for TIVO to close over $11.66, if it does happen, but one possible scenario that I expect to see occur is see TIVO pullback to around $11.00 and bounce back up. If that occurs this will further strengthen TIVO's support at $11.00. What could happen then is seeing TIVO trend with this narrow channel within approximately $11.00 and $11.70, until it breaks up or down for another BUY or SELL signal. However the fact that TIVO despite pulling back today, has manged to stay above $11.00 is very bullish. My current stop loss order is set at $10.60, which I will probably raise to $10.75 tomorrow. I also have a Stop Buy order at $11.75 to buy more shares if the break occurs upwards. If you already entered into a position with TIVO on Monday, I would suggest to HOLD and set stop loss orders similar to the one's I indicated. A break below $11.00 would be a SELL signal, but to avoid getting whipsawed I will be setting it at $10.75, to get clear sign, since the bounces back up support or resistance levels will never be exact to the very cent, as indicated. If you are looking to enter into a position with TIVO I would wait and see if it does indeed bounce back up $11.00, and then you would have another BUY Signal. However, you may prefer to even wait for a break above $11.66, if you believe TIVO might trend within a narrow channel at $11.00-$11.70 for a while.

Long TIVO@ $11.30 - Stop Loss @ $10.60 (-6.19%), likely increased tomorrow to $10.75 (-4.86%) - Stop Buy @ $11.75 (+3.98%)

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TECHNICAL INDICATORS

BUY SIGNAL: Indicates the possibility of the start of a new up trend or the continuation of the current up trend. This signal may be often given in the early stages of a potential new up trend that was preceded by a down or sideways trend. Such signals do not always succeed and may fail at time.

BUY: Indicates that the current up trend is already in motion and a BUY SIGNAL was already given earlier. A BUY does not necessarily indicate that the stock will continue higher from here, but simply that the stock is trending up. The further into the trend you decide to take a long position, the more risk you have of seeing it reverse back down sooner rather than later.

STRONG BUY SIGNAL: Indicates a stronger, more significant and reliable signal than a BUY SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG BUY: Indicates that the current up trend is already in motion and that STRONG BUY SIGNAL was already given.

SELL SIGNAL: Indicates the possibility of the start of a new down trend or the continuation of the current down trend. This signal may be often given in the early stages of a potential new down trend that was preceded by an up or sideways trend. Such signals do not always succeed and may fail at time.

SELL: Indicates that the current down trend is already in motion and a SELL SIGNAL was already given earlier. A SELL does not necessarily indicate that the stock will continue lower from here, but simply that the stock is trending down. The further into the trend you decide to sell a position, the more risk you have of seeing it reverse back up.

STRONG SELL SIGNAL: Indicates a stronger, more significant and reliable signal than a SELL SIGNAL which usually has less chance of failing. Such signals do not always succeed and may fail at time.

STRONG SELL: Indicates that the current down trend is already in motion and that STRONG SELL SIGNAL was already given.

HOLD: Indicates that traders who already hold this stock, should hold on as long as the trend persists. This signal is usually given during an up trend for which it would be considered too risky to take a long position at this point.

STRONG HOLD: Indicates that the current trend has been in motion for a while and rarely deviated away from the trend. Although the stock may continue higher, there may not be enough potential up side to trigger a BUY SIGNAL. This type of indicator usually means that the stock has very strong support levels which may have been tested but not broken.

WAIT: Usually given during a sideways trend for which we are waiting for a move that would trigger a BUY SIGNAL or SELL SIGNAL. This could also indicate uncertainty and the risk that would be taken if you were to take a long position at the current level. Taking a long position after giving a WAIT indicator is considered a gamble.