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Lets Talk Charts 5

|Includes: Canon, Inc. (CAJ), CYN, EPI, KYO, POR
Hello Everyone
I'm officially back from a long vacation in Europe and...now I'm ready to help you find technical opportunities in the market.

So....


Lets Talk Charts!!!

Canon (NYSE:CAJ
Canon has a couple of things going for it right now.  First; Canon is a Japanese company and its stock gets great tail winds from the overall Nikkei Index which seems to be break out every week.   Second: CAJ got upgraded to overweight from Neutral by JP Morgan on Friday after which Canon rose 1.06% to close on heavy buy side volume.  Just look at what happens to this stock every time massive green volume bars flood the stock...it goes up!  
Support: 50.50
Resistance: 52.50
Kyocera Corp (NYSE:KYO)
Another Japanese stock, Kyocera is a diversified electronics company.  The company just got initiated by Credit Suisse with an outperform rating on Thursday-13th.  As pointed out in chart large volume has come in to the upside on numerous occasions however, Kyocera has seized to breakout....I think the breakout action we've seen in the Nikkei coupled with an upgrade may be just enough to push KYO over 105.50
Support Levels: 100, 102.5
Resistance: 105.00



City National Corp (NYSE:CYN)
Believe it or not this regional bank from California has been making money.  What I like is that the volume on this chart relative to the others is the largest.  CYN is setting up in a CLASSIC base to breakout formation.  First the stock goes up to a new plateau then trends sideways for weeks, then a flood of volume comes in and sends it higher...this is exactly what I think we're seeing in CYN, buy it now, it's going HIGHER!
Support: 61.00
Resistance: 62.00


Portland General Electric Comany (NYSE:POR)
This electric utilities company is technically in a strong uptrend which I think will continue because the volume traded on Friday seems to demand so.  Also, since POR has been out of the news for about a month, investors have been forced to play this stock more techincally than fundamentally, so if we look only at the technicals this stock looks like its going higher.....about $1.5 higher -or- 6.8% 
Wisdom Tree India Earnings Fund (NYSEARCA:EPI)
I saved the best (or worst) for last.  Usually seeing a chart like this, I would say EPI is a perfect short because it just broke support and it sold off Friday on above average sell volume.  However, India is a growing economy and although people have been afraid of inflation in Asia, I think this is a perfect opportunity to buy a when everyone is fearful.  Lets face it EPI is oversold, and it's worth taking a risk when the RSI is at 36 and slow stochastics indicate the ETF being way oversold. Sure EPI may go down one more day, but as a weekly play I think this ETF will close the week higher next week.












 








 


Disclosure: I am long CAJ, KYO.

Additional disclosure: I may open a long position in CYN, POR, and EPI in the next 72 hours