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  • A Review Of NextCandle.com’s Top Stock Forecasts From Last Week 0 comments
    Apr 30, 2012 12:11 AM | about stocks: KAR, BIDZ, EGI

    Despite an earnings season that has thus far been largely positive, much of the economic dataannounced last week seemed to indicate an economy sliding towards a stall or at best, a crawl. Nevertheless and on Friday before the market opened, NextCandle.com gave the following stock forecasts:

    • KAR Auction Services (NYSE:KAR) had an 83% probability of making a higher high.
    • BIDZ.com (NASDAQ:BIDZ) had an 83% probability of making a higher high.
    • Entree Gold (NYSEMKT:EGI) had an 82% probability of making a higher high.

    And the results on Friday when the market closed for the week:

    • KAR Auction Services (KAR) opened at $18.40, had a trading range of $18.21 to $18.57 for the day and closed at $18.57. KAR Auction Services (KAR) is a provider of vehicle auction services in North America and analysts are predicting that April auto sales will be the strongest month since 2007 on the back of higher demand for smaller and more fuel-efficient cars.
    • BIDZ.com (BIDZ) opened at $0.59, had a trading range of $0.59 to $0.67 for the day and closed at $0.62. BIDZ.com (BIDZ) is an online retailer of jewelry that features a live auction format while its Modnique.com site is a flash sale shopping website offering authentic premium brand name merchandise. Probably the main reason for the price of nearly 6% was due to the announcement of earnings from Amazon.com (NASDAQ:AMZN) late Thursday that revealed a 34% surge in net sales. As for BIDZ.com (BIDZ) itself, its worth noting that its BIDZ.com site is not experiencing growth while its much smaller Modnique.com site is growing.
    • Entree Gold (EGI) opened at $1.12, had a daily trading range of $1.10 to $1.18 for the day and closed at $1.14. Entree Gold (EGI) is a Canadian mineral exploration company focused on the worldwide discovery and development of copper and gold prospects. And while a slowing economy would be bad for copper prices, Entree Gold (EGI) is probably benefiting from have the word gold in its name as gold will tend to rise in an uncertain economy.

    Given the mounting evidence that the economy is slowing and the fact that Tuesday is the start of May (as in the old saying: "Sell in May and go away"), having accurate stock forecasts for the next trading session will be critical. However and last Friday, having Next Candle's stock forecasts for KAR Auction Services (KAR), BIDZ.com (BIDZ) and Entree Gold (EGI) certainly would have helped you to make more profitable trades for the day.


    Stocks: KAR, BIDZ, EGI
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