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freddysukamta
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Freddy is a college student, started his stock trading since 2008. He founded Protege Analytics, a blog which uses simple methods to find good stock and evaluate stock market. You can visit his blog Protege Analytics (http://www.protegeanalytics.com)
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  • Five Stock Picks Amid Weak Trading Day 25-Jan-2011 3 comments
    Jan 25, 2011 2:29 PM | about stocks: HOG, GLW, PTY, OPEN, SPWR

    Hello trader well I see that the markets go down today after 3M Co (NYSE:MMM) and Johnson & Johnson (NYSE:JNJ) bad earnings announcements. But do not worry because I have five stocks for you, and all the stocks are good based on their chart pattern.

    1. The first stock is Harley-Davidson Inc (NYSE:HOG) where the stock breaks its bullish price channel's resistance with high volume (more than 3 times higher than its average volume) and makes its new 52 weeks high.

    2. Corning Inc (NYSE:GLW) finally can beat its previous 52 weeks high with high volume too.

    3. PIMCO Corporate Opportunity Fund (NYSE:PTY) successfully penetrated its 3 months cup without handle's resistance yesterday. The stock continues its move today and I think it still not too late to join the party full of buyer.

    4. OpenTable Inc (NASDAQ:OPEN) rebounds from its bullish price channel's support and goes up. I think the stock would probably reach its resistance at around $85 so we have a probability to get aroud 10 percent profit in short term (current price: $77.35).

    5. SunPower Corporation (SPWRA) finishes its reverse head & shoulder pattern with increasing volume and I think the stock price could reach its resistance at around $20.

    So from those five, which stock would you pick to bring you a decent profit?

    Goodluck!



    Source:
    Protege Analytics - Get Daily Stock Picks

    Stocks: HOG, GLW, PTY, OPEN, SPWR
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  • Cherry Picker
    , contributor
    Comments (383) | Send Message
     
    HOG has bounced off of long term support at about $40 numerous times over the past ten or so years before finally crashing through it back in '08. It's possible that the $40 level may provide significant overhead resistance going forward. If HOG decisively breaks through $40 and holds it may be a buy, but a profit beat based on downsizing and improvement in credit performance in their financing arm made today's big spike up a bit suspect to me. There is a lot of relief that the bad numbers are behind HOG, but the company needs to show that it has the ability to grow sales which will be quite a challenge as the Japanese rice rocket group has been gradually taking market share.
    26 Jan 2011, 01:07 AM Reply Like
  • freddysukamta
    , contributor
    Comments (2) | Send Message
     
    Author’s reply » Great analysis, pal. It is right that the company has just downsized its loss but I see a good chance from its chart. In short term, there are many buyers who drive the price higher and this is good for momentum trader so I think it's not a bad idea to have this stock except you are an intermediate or long term trader. The stock price goes higher today and it will be okay if we keep our stop loss tight. :)
    26 Jan 2011, 01:50 PM Reply Like
  • Cherry Picker
    , contributor
    Comments (383) | Send Message
     
    Slight carry through on HOG today on decent volume, however if you look at this chart going back several years you'll see that it fell hard through very long term support at around $40. If it up pushes through 40 convincingly and holds I'll take a small loss, but to me, this somewhat old but very lengthy support level should act as resistance. Right here in the $39's I'm about flat.
    26 Jan 2011, 01:59 PM Reply Like
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