Peet’s Coffee & Tea (NASDAQ: PEET) and Green Mountain Coffee (NASDAQ:GMCR) are two coffee stocks showing up on our radar. With the price of coffee beans moving higher you have to wonder how much longer these two stocks can run. Margin erosion could occur in the near future as increased coffee costs are difficult to pass on to the consumer. Premium names could be punished as consumers trade down to cheaper brands.
Honda Motors (NYSE: HMC) and Olympus Pacific Minerals (TSE: OLYMF) popped up on our chart scan today. Honda Motors features a spectacular looking short and long term chart. Breaking above its $37.25 neckline recently, the stock looks poised to move higher. Olympus Pacific Minerals is a micro-cap gold mining stock forming an ascending triangle. The stock represents an outstanding speculative gold investment for 2011.
E*Trade Financial (NASDAQ: ETFC) and Goldman Sachs (NYSE: GS) are two investment brokerage stocks showing up on our radar today. E*Trade has formed a 5-month ascending triangle formation with a $15.60 neckline. It could make a major move as it nears the apex of its triangle pattern. Goldman Sachs is rallying off its June “bear trap” and looks to test the $178.00 resistance trendline.
China Automotive Systems (NASDAQ: CAAS) and Motorola (NYSE: MOT) appeared on today’s chart scans. On the eve of the highly anticipated General Motors IPO, China Automotive Systems has neared the apex of its symmetrical triangle formation. The stock has also been testing a 2-year support trendline in recent trading. Motorola shows the makings of an inverse head and shoulders pattern. With a neckline of $8.75, MOT is near breakout levels.
Three growth stocks are on top of a list of short sellers most hated stocks of 2010. With gains amounting to over 300% year-to-date, Netflix (NASDAQ:NFLX) , OpenTable (NASDAQ: OPEN) and Chipotle Mexican Grill (NYSE: CMG) have been a nightmare for short sellers this year.
China Sunergy (NASDAQ: CSUN) and Cenovus Energy (NYSE: CVE) are two stocks showing up on the radar screen today. China Sunergy is a heavily shorted solar energy stock with earnings on November 15th. With recent positive earnings announcement from peers in the industry and an ascending triangle formation, CSUN could be set to jump. Cenovus Energy is no stranger to our chart scans. This oil sands company looks primed for a new 52-week high.
Options Xpress (NASDAQ: OXPS) & MBIA (NYSE: MBI) are two stocks popping up on our radar today. Options Express is a discount brokerage firm trying to breakout of an 18-month base. It current trades near the $17.50 resistance trendline. MBIA is facing some headwinds as a peer Ambac (ABK) announced it would seek bankruptcy protection. Keep a close watch on MBIA as earnings will be announced after hours today.
Currency traders around the world are sizing up the value of the US Dollar (INDEX: $USD) this week. With news on potential Quantitative Easing II (QE2) coming tomorrow, traders expect further dollar weakness. The US Dollar Index is on the verge of a breakdown from a key 3-year support level.
Cenovus Energy (NYSE: CVE) & Energy XXI (NASDAQ: EXXI) appeared on today’s stock chart scans. Since its spin-off in late 2009, Cenovus has traded in a range of $25 to $30 per share. The company develops oil sands properties in Canada and refining operations in the United States. Energy XXI develops oil and natural gas properties in south western United States. Short covering has propelled the company’s share price higher in recent trading.
Jones Group (NYSE: JNY) & Capital One Financial (NYSE: COF) popped up on our chart scan today. After an abysmal earnings report Jones gapped down over twenty percent today, setting up a possible head and shoulders chart pattern. While the Dow Jones has staged a rally over the past year Capital One is in the red. Steadily leaking from its high of $47.62, COF looks extremely vulnerable.