Stock Chart Analysis GROW

U.S. Global Investors, Inc. (Public, NASDAQ:GROW)

GROW looks like it is trying to put in a W bottom here after reacting negatively to earnings. The stock was setting up for a breakout before said earnings, and could be on it's way to challenge the recent highs. This is a stock I've been following for a while, and while this could be a fake out, the fact that it is trying to bottom near the 200 day sma gives it more credibility. This probably has ample overhead supply to work through, but an important bottom may be in. Please do your own DD.

Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis ROY

International Royalty Corporation (Public, AMEX:ROY)

I been seeing a lot of decent looking charts in the smaller non gold related mining companies recently. ROY is a recent IPO that has had a nice run. Volume is really starting to come in to the stock and it looks like it is near completing a pullback. I think it may be early here as ROY should come back to test this area for a bottom, but I think that 6.68 low may hold as the pivot low. I will be watching it over the next few days to decide where best to scale in.

Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis RACK

Rackable Systems, Inc. (Public, NASDAQ:RACK)

RACK is starting to look interesting here. It has dropped from the mid fifties to basically its IPO price in the past year. It recently tested the post IPO lows and looks like it may be turning up. This stock is hated right now, and this is a case where everyone that was dumping may be finished. There is plenty of room to the upside even for a deadcat bounce with minimal risk. If the markets squeeze some shorts in a breakway move to record highs, then RACK may do the same.

Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis ASTI

Ascent Solar Technologies, Inc. (Public, NASDAQ:ASTI)

Interesting chart here for ASTI. It had a nice strong move on volume shortly after its IPO and had plenty of sector support. It has been pulling back with the general sector and could be near complete with the consolidation. It has an unfilled gap below which I suspect will remain unfilled for quite some time. I see some renewed interest in fellow solar semiconductor stocks like WFR, FSLR, and JASO, so ASTI may follow suit.

Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis SPWR

SunPower Corporation (Public, NASDAQ:SPWR)

In the I may be early but the chart looks good category, I submit to you SPWR. It has had a nice breakout of a trading range and is in the process of pulling back to a rising 50 day moving average. I believe it will find support in this area and possibly move higher as soon as tomorrow. My concern is that the odds are pretty good that it will come back to this area again before truly breaking out. I am putting it on my watchlist and may scale in slowly while I wait to see how it behaves in this area.


Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis EFUT

eFuture Information Technology Inc. (Public, NASDAQ:EFUT)

EFUT is a stock that had some major mojo just recently, but has just been dead money, dropping steadily for months now. Volume has slowed to a crawl and it is sporting some nice divergences in its indicators. It's at a point where it should either bottom out, or give way to the 12 dollar area. It looks to me like it's ready to make a run to the 20's, or at least it's 50 day sma and with any luck, it could form a longer term bottom. This is obviously a risky trade in a risky stock, so due diligence is recommended.



Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis ASCA

Ameristar Casinos, Inc. (Public, NASDAQ:ASCA)

ASCA just recently broke out to new all time highs and is in the process of consolidating the breakout. It has formed a falling wedge pattern which is usually a bullish continuation pattern. It is pretty close to it's 200 day simple moving average and may find some institutional support here. There are other casinos looking pretty decent right now, so it's sector may help it out as well.


Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis PTV

Pactiv Corporation (Public, NYSE:PTV)

PTV's choppy base may be hard to chart up, but if you step back a bit, you will notice it's basing fairly close to all time highs and has been in an uptrend for over a year. There is no reason to think the trend won't continue at this point. It still has some work to do as it is still pulling back towards a bullish gap and also has gap resistance up above. It is in an area where it may bottom out, so I am on watch for a candle pattern or strong volume to emerge.

Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis ELY

Callaway Golf Company (Public, NYSE:ELY)

ELY has been in a trading range for about 5 years now. It looks like it may be attempting to breakout of this range on longer timeframes. It has pretty strong resistance above, but drilling down to the daily chart, it shows a promising setup. ELY broke out of a wide base and has been trading in a very tight pullback. It is pulling back to gap support and a rising 50 day moving average. A break of the channel shown may be enticing enough for a trade to the long side.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis GRA

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

I mentioned GRA last week as a chart I liked and it remains in a pretty decent spot here. It did pullback as I suspected it might, but hasn't violated any important technical levels. Volume was also lower on the pullback and it could find some renewed interest here, especially if the general markets cooperate.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis ARGN

Amerigon Incorporated (Public, NASDAQ:ARGN)

ARGN is an IBD 100 stock with a promising chart. Its very thin, but volume has been building on this breakout. It is forming a bull pennant here as it works off some of the recent move higher. The 20 day moving average has caught up to price and could provide support for a breakout. A bull flag breakout should take ARGN near 20.

Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis AMR

AMR Corporation (Public, NYSE:AMR)

AMR has been under distribution for about three months now, consistently making lower lows and lower highs. It has been grinding out a little base for the past month or so, but is running right into some stiff resistance. While it may continue to move higher and make a run at the 200 sma, there is a chance it falls right here at the down trendline. I have a feeling that this stock will go as the near term market goes. If the markets start to pullback this week, the I think this attempted W bottom will fail and AMR will break to new lows.


Good Trading,


Joey

for more analysis, check out downtowntrader.com