Technical Analysis of Amerigon Incorporated (ARGN)

Amerigon Incorporated ARGN has been in an uptrend since February 06. The company designs, develops and markets products based on its thermoelectric device [TED] technologies for a range of global markets and heating and cooling applications. Here is some basic technical analysis for them:

* In April through early June, ARGN's shares traded sideways.

* On June 9, the stock broke its sideways trend and continued trading higher.

* It created the bullish wide range bar pattern, with over a 13% gain in one day. The stock continued to trade higher for another three days.

* Over the following five trading days, ARGN retraced to the $8.5 level and held just above the 20MA.

* Note that on June 16, the stock retraced to the $8.25 level, but ended the day at the $8.90 level.

* This is an indication that there are enough buyers at that level.

* For the last three trading days the stock created the bullish three inside up pattern, which is an indication of strength. For the last two trading days, ARGN has inched higher.

* This may be an indication of a new leg up.

ARGN 3-month chart: