Stock Chart Analysis PFWD

Phase Forward Incorporated (Public, NASDAQ:PFWD)

I like to look for stocks that refuse to go down on negative days like today. PFWD had a breakaway gap yesterday on a huge surge in volume and today, it flat out refused to fill the gap despite the extremely negative day. It appears that it will try and clear resistance here and break out to all time highs. If tomorrow happens to be a positive day, then it could do it then.


Good Trading,

Joey

for more analysis check out my home page at http://downtowntrader.com

I've always enjoyed reading and listening to interviews of traders and I've always been fascinated about how other traders think or feel. Traderinterviews.com conducts interviews with traders on a weekly basis and makes them available via several audio formats. I recently had the honor of being asked for an interview by Tim Bourquin who is also the founder of Traders Expo. It was conducted in an informal fashion and we discussed some of my trading methodology and how I got started in blogging. If you're interested please visit the interview page. It is also available as a podcast on Itunes I believe. Although it was twenty minutes, it felt a lot shorter. I had a great time and hopefully you enjoy it.

Good Trading,

Joey

Stock Chart Analysis KEX

Kirby Corporation (Public, NYSE:KEX)

Shipping has been hot,hot,hot lately. I was looking through the sector tonight and I wonder where my head has been. Look at DRYS,TBSI,NM,OSG,TOPT when you have a chance, and you will see some major moves. While KEX hasn't had the move some of these have had, it isn't seriously overbought either. It hasn't been a major laggard either gaining a health percentage gain this year. What we have here, is a stock that cleared a major base and is now in a small consolidation. It looks like it is starting to clear this little triangle and could challenge the recent highs.


Good Trading,

Joey

for more analysis check out my home page at http://downtowntrader.com

Stock Chart Analysis PCR

Perini Corporation (Public, NYSE:PCR)

PCR has been consolidating very tightly after a nice gap higher. The nine day moving average has caught up to price and PCR may break out of this range here. While it probably needs more consolidation before a sustained move, these tight consolidations after a gap can provide very powerful one to three day moves.

Good Trading,

Joey

for more analysis check out my home page at http://downtowntrader.com

Stock Chart Analysis AYI

Acuity Brands, Inc. (Public, NYSE:AYI)

AYI is another stock similar to the previous posts below, in that it has been consolidating a recent breakout. AYI is in an up trend, setting higher highs and higher lows. It has been pulling back on declining volume to converging support. These pullbacks are necessary to shake out the weak hands participating in the move. Once enough sellers have sold, demand outweighs supply and the rally resumes. We may be at that point here. There is converging support near 58, and most technical indicators are pulling back up from oversold status.


Good Trading,

Joey

for more analysis check out my home page at http://downtowntrader.com

Stock Chart Analysis GRA

W.R. Grace & Co. (Public, NYSE:GRA)

GRA has been consolidating a recent breakout in a very tight channel. It appears that it is ready to move out of the channel, as it had a nice move today on increasing volume. While it may be safer to wait for a little pullback, buying here still offers a decent 3 to 1 risk if the recent highs are targeted and the recent low is used as a stop. It could go beyond that of course.


Good Trading,

Joey

for more analysis check out my home page at http://downtowntrader.com

Stock Chart Analysis INCY

Incyte Corporation (Public, NASDAQ:INCY)

INCY recently had a high volume breakout and has since pulled back on declining volume to test that breakout. It filled the gap and appears to be forming a pivot low here. If it can successfully hold it then it should go ahead and move to new highs.


Good Trading,

Joey

for more analysis check out my home page at http://downtowntrader.com

Stock Chart Analysis CYNO

Cynosure, Inc. (Public, NASDAQ:CYNO)

CYNO has been in a steady uptrend and is only a couple of points from a new all time high. It has been pulling back to near the 50 day moving average along the way and appears to bouncing from it again. It has been consolidating for a few weeks now and has converging support here that should hold. Volume was above average today and if tomorrow follows suit it may attempt a breakout.


Good Trading,

Joey

for more analysis check out my home page at http://downtowntrader.com

Stock Chart Analysis IOC

InterOil Corporation (USA) (Public, AMEX:IOC)

Oil and Gas refiners have been on fire and IOC is looking like it may be ready to break out of this cup and handle like base. I'm looking at 31 as a key level here. If it can clear 31 on any sort of volume then it may be on its way to new highs.

Good Trading,

Joey

Stock Chart Analysis SSRI

Silver Standard Resources Inc. (USA) (Public, NASDAQ:SSRI)

SSRI has been holding up through this pullback in precious metals surprisingly well. These are the kind of stocks that break out once their sector gets back in gear. It has started to turn back up from the established trading range and could be ready to begin the next leg up. OBV is in a leading divergence.

Good Trading,

Joey

Stock Chart Analysis GES

Guess?, Inc. (Public, NYSE:GES)

I highlighted GES a few days ago and my initial analysis still holds. GES has very strong support at 37-38 and it may be ready to break out of this base. It attempted to break out and then fell back into the base. If it can hold here at the 20 sma, then it could attempt another breakout.
Good Trading,

Joey

Stock Chart Analysis GSOL

Global Sources Ltd. (Bermuda) (Public, NASDAQ:GSOL)

GSOL looks like it is setting up for a continuation move higher. It is setting up in a cup and handle base with the handle resembling an ascending triangle. While there is a chance that it continues to pullback near term to the lower band, it could find support here after reclaiming the 20 day moving average.



Good Trading,

Joey