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STOCKS (Q1 - 2012)

1/17/12

Updates from the previous stock forecasts

 NOW = 1/17/12

 Hopefully tomorrow in the afternoon I will have completed the second portion of the research (180 stocks – research and analysis)

Stock Forecast:

 

 

ADP: (from 1/13)

Bias: Bullish

Immediately up to 56.15 (56.95) (Up extension 56.95); the price action at 56.15 determines if we continue up (60.37) or back down (45.97) expect a pullback at 56.15. Currently 54.02 is the key support although 52.33 is the key pivotal support

NOW:

No change

 

AMAT: (from 1/13)

It’s all about what happens at 12.12; will update in accordance

NOW: no change

 

AMZN:

Bias: Bearish

Down to 154.15 although beforehand up to 189.56/191.65

NOW:

No change

 

APPL: (from 1/12)

Bias: neutral (was very bearish) potential change to bullish

Originally had it heading straight down to 354.80 then a bounce back up to 429.50 and then down sharply to 281/282; but that’s all changed. The key now is if we reach 429.50 or not; due to the fact APPL is quite dynamic we MUST update it in accordance the weekly movements.

NOW

No change waiting to see if we reach 429.50 or not; IMO we reach 427.05;

 

ARII:

Bias: Bullish, Up to 32.79; then expect a pullback down to 25.50/25.70; then up to 39/41

NOW:

Today’s closing price is quite pivotal regarding the next 10/15 trading days

Will update tomorrow

 

ATVI: (from 1/12)

Bias: Bearish

Down to 8.80 although beforehand POSSIBLY up to 12.70

NOW

We reached EXACTLY 12.70 and immediately pulled back

No change down to 8.80 today’s close should where the first potential bounce will occur

 

BAC: (from 1/10/12)

Bias: Very Bearish

Down to 5.31

High probability we topped out at 6.37 and head back down as such 5.56 is the key support; below it down to 5.31

 

BAC: (from 1/12)

6.74 is the support pivot for the pattern (7.10 against 6.23) Yesterday we developed (like almost all recent patterns) a bear bounce pattern, meaning it must reach 7.10 otherwise back down quickly to 6.23 (down extension – to 6.02)

BAC :( from 1/11)

It traded above 6.37 which takes us immediately up to 6.98/6.99  

6.98/6.99 completes a bottom pattern from December; although 7.20 is the KEY resistance pivot since August. Not reaching 6.98/6.99 is a complete bull failure and immediately ushers in new lows

NOW:

We reached 7.02 and pulled back; currently between a rock and a hard spot; we’re stuck between 2 open gaps (6.78 and 6.60); the up price target from the 11/13 decline (bottom pattern) is 7.17; but yet an even smaller such pattern (bottom pattern) the up price target is 6.97; in light of the fact we failed to close the 1/12 gap down (6.78) upon today’s gap up IMO we immediately head down to 6.00 to 6.13

C: (from 1/13)

down to 17.50 after this bounce; 32.09 is a potential termination level for this move up from 24.78; I was expecting it to reach 33.53 to 33.95 but the last few days have contracted the potential bounce

NOW:

No change (down to 17.50), immediately down to 27.39

 

 

BMRN: (from 1/12)

It should have been Up to 39.72; although at 37.82 we may have put in the top, currently pointing down to 34.26, clearly trading below 35.00 confirms the top in place bias; none the less expect a significant pullback/trend reversal immediately down to 24.65/24.90 small bounce then down to 15.60

NOW:

We took out 35.00 on the bounce, but we need a close at 35.00 or above

The bounce should have occurred at 34.26 (not 34.28) it could go either way right now (up to 36.80 or down to 34.24)

 

 

GE (from 1/11)

Bullish

Up to 20.98

NOW

No change

 

JPM: (from 1/11)

Bearish

Possible top at 37.05 if so immediately down to 34.27; no matter how you slice it up its down to 18.50 to 21.50

NOW:

No change

We reached 34.50

 

 

MAKO:

Up to 38.16 to 38.75 then down to 9.23 to 10.84

We put in a top at 43.00

NOW:

We have high open interest (20%) but the open interest increased while price decreased from 10/14/11; which is not bullish in fact the opposite – IMO the bounce from 24.40 terminates at 38.16; as such the immediate move is down to 19.22

 

 

NWSA: (from 1/13)

Up to 21.24/21.25

NOW: no change

 

SPPI: (from 1/13)

Up to 17.35; then expect a significant pullback/trend reversal as such down to 8.50

NOW: no change

 

STX:

Very bullish, up to 28.15 although at 24.38 we have a confirmation for 28.15; at 20.25/30 expect a minor pullback and again at 21.79/91; the support pivot at 16.78 should support the first few pullbacks until 24.38, the pullback at 24.38ish should find support at 18.50 (most recent support pivot)

NOW: no change

 

 

VALE: (from 1/13)

Very Bearish

If it reaches 23.86 then down we go to 16.50/16.80

NOW:

We reached 23.85 today