Stock Chart Analysis ZUMZ

Zumiez Inc. (Public, NASDAQ:ZUMZ)

ZUMZ has been trading in a base for a few months now and has drifted back to a previous breakout area. This is a classic buy at the lower boundaries of a range play, and there is a fairly decent chance that 36.60 will hold as a pivot low for a while. Obviously much depends on the general markets and the retail sector in particular, but it looks pretty good on its own. Keep in mind that there is still bearish gap resistance above and it should prove to be choppy at the least once it gets there.



Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis XLNX

Xilinx, Inc. (Public, NASDAQ:XLNX)

XLNX has officially retraced 100% of the breakout and it looks like buyers are starting to step up. I prefer stocks to hold some of the breakout, but sometimes these trades work out well due to clear support and resistance levels. Semiconductors have been showing signs of emerging leadership, and if the market rallies from here, then XLNX should make a nice sector play.


Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis DNDN

Dendreon Corporation (Public, NASDAQ:DNDN)

I debated tonight on whether to mention DNDN as a chart to watch. While I think it might make a viable trade, I wouldn't recommend this stock as a longer term holding at all. There is just too much risk for anything more then a small trade with reduced exposure. Most people already know the news behind this stock, and if you don't, please take the time to read through some recent news. There are a lot of key levels to watch here that make this an interesting play. After the huge gap down, DNDN traded sideways while the market tried to figure out how to price DNDN. It ended up at a small premium to what it was trading at before the initial breakout. It then gapped higher after a letter from the FDA and basically retraced the entire move. It had a nice candle form on good volume today and it could bounce higher now as the market tries to reprice all the recent information. Again, this is a risky stock, so please do your own DD.


Good Trading,

Joey

for more analysis, check out downtowntrader.com

I'm back from vacation and should resume regular posting tomorrow. I haven't had a chance to really dig in and look at some charts, but it looks like the S&P is falling apart. The Nasdaq looks like it is in much better shape, and as long as it is in good shape, the bulls should have hope. Check back tomorrow for some charts.


Joey