Ford Motors (F) is testing 2-year support after making a recent high around $19.00 during earnings season. Since its high the stock has been hammered on concerns of slowing growth in Chinese markets and stagnant US markets. Today’s candle and low at $13.85 represents a key support level as shown on the chart above.
Dean Foods (NYSE: DF) has been hit hard over the past few years. The dairy product manufacturer has seen its stock price decline from the mid $20′s to just $10.40 as of today’s close. While the dairy industry has been hard hit with high input costs and slim margins, comments made during this quarter’s earnings release indicate stabalization.
Despite a quality earnings release (SPAR) was down more than 8% and closed near session lows. With Spartan showing such a beautiful multi-year breakout we simply couldn’t resist re-entering on the pull back. Watch (NASDAQ: SPAR) as it attempts to backtest support near $6.75.
With the rapid growth of online stock and options trading came a wave of online discount brokers. However, not all online brokers were created alike. In a race to the bottom for the cheapest online trading fees a few online brokers took it to the extreme. Tradeking was one of pioneers in the industry, introducing low stock and options trading fees of just $4.95 plus .65 per options contract. Discount brokerages have revolutionized online stock trading.
Today’s scan highlights International Business Machines (IBM), Life Partners Holdings (LPHI) and Nordic American Tankers Shipping (NAT). IBM recently broke out of a horizontal channel, an extremely bullish chart pattern. With 35% of the float held short, LPHI is likely experiencing a short covering rally. NAT has been in a declining trading range for some time now. Watch this stock as it nears the apex of its triangle and tests $26.25 support.
Today’s scan produced a relatively unknown communications equipment maker named Infinera (NASDAQ: INFN). The chart displays a clear horizontal channel breakout with volume. After almost 2-years of trading in the $6-$10 range, INFN jumped higher on huge volume, recently hitting $11.31 yesterday.
Today’s scan highlights VMware (NYSE: VMW), China Natural Gas (NASDAQ: CHNG) and Under Armour (NYSE: UA). The scan targets charts exhibiting both upsloping and downward sloping channels with multiple trendline touches. Follow these channel charts for favorable long and short entry points.
The Hindenburg was a German passenger airship which caught fire and came crashing down while attempting to land in 1937. Could this be a possibles scenario for the United States economy – the fed attempting a soft landing only to have the economy come crashing down?
The recent 6-month run in the stock market has baby boomers and the collective investing community jumping for joy. Double digit gains approaching 50% for some investors and retirees have eased the pain temporarily.