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Gary Johnson L
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  • 5 Tech Stocks To Watch 0 comments
    Feb 4, 2013 11:41 PM | about stocks: GRPN, ORCL, SKYW, YOKU
    5 Tech Stocks to Watch


    (click to enlarge)
    Oracle Corp. (NASDAQ: ORCL) has dropped almost 3% today with a volume less than yesterday and it is still closing above centerline of Bband. RSI falls quickly too 55.24 which is a sign that ORCL won't pull back for much more. I think it is still a good level to long ORCL now. Stop at $34.00 - $34.50.

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    Apple, Inc (NASDAQ: AAPL) My view on AAPL is still unchanged. VERY Bearish. Both MA(50) and MA(200) shows a rounding top. Despite the low RSI, I think AAPL might break below $435 and reach $400 by the end of this month. I think institutional owners are slowly liquidating their shares on AAPL. It is a barely much chance AAPL would go back to $500 level.

    (click to enlarge)
    Groupon, Inc. (NASDAQ: GRPN) has been moving high and higher after the bottoming in Nov 12. Despite there was a 7.35% drop yesterday, GRPN still closes above centerline of Bband. OBV shows no sign of reversal. MA(50) would be a very strong support for GPRN.

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    Youku Tudou, Inc (NYSE: YOKU) has pulled back from $25.24 to $21.59 last week. Yet, there is a bullish divergence on OBV. OBV shows no sign of reversal and I suppose RSI at 40-level should give a great support to YOKU. Keep it on your radar. Any close higher than $22.25 signals an uptrend continuation.

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    Last time I mentioned SkyWest, Inc. (NASDAQ: SKYW), it broke above an ascending triangle at $11.87 back in November. After 2 months of trading, I believe SKYW is undertaking a trend reversal. The stock closes below lower Bband for the first time since June 2012. I consider a break-below lower Bband with a widening band after consolidation a very bearish sign. Bearish MACD took place yesterday. OBV also fails to make new high. RSI broke below 40 level, which I also consider a trend reversal. I would not be a bad idea to short SKYW given its speed in gaining from $6.5 to almost $14.00 in less than half a year.

    Stocks: GRPN, ORCL, SKYW, YOKU
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