Stock Chart Analysis URZ

Uranerz Energy Corp. (Public, AMEX:URZ)

URZ is a chart I was following a couple months ago until it fell into a correction. It appears that the correction may be close to an end as it has pulled back to a previous breakout area and is starting to find some support. This may be a good spot to get in early with a stop under the recent lows if the timing is wrong. This play may take a while, but if it sets a new low here, it should eventually make new highs and head towards the $9 or $10 area.



Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis GRA

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

GRA has been trying to bottom for a couple of weeks now, but keeps pulling back further on weak market days. There have been some pretty bullish candles forming along the lower band and it seems to me like it is ready to turn up. If not, at least there is a clear area to put in a stop and scratch the trade.


Good Trading,

Joey

for more analysis, check out downtowntrader.com

Obviously, not all of this sites readers are from the US, so you may not have interest in a post celebrating the US's independence. However, regardless of where you reside, take some time today to reflect on and respect those who put their lives on the line everyday in order to protect your country and ultimately your life. In this new world of global terrorism, and as the line between independent countries blurs, it has been put in the hands of each nations young soldiers to put their lives at risk each day in chaotic environments where the enemy blends in with civilians and where there is no clear objective or target for defining victory. Deep down we all just want a safe place to raise our families and follow our chosen beliefs. Without attempting to dissect global politics and place blame on governments or groups, I would just like to offer my thanks to those that serve and protect my country dutifully each day.

Joey

Stock Chart Analysis EFUT

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

I highlighted EFUT in late May as possibly bottoming although I didn't envision a 60% move happening a few days later. EFUT had a major breakout on good volume rising from 15 to over 24. It has now pulled back to the 20 day sma and although it hasn't turned back around yet, I think it is slowing down enough to add to the watchlist. I would prefer for it to not retrace all the way back to 15, but 16 is a decent possibility. I do think the next high volume positive day will probably mark a bottom and the beginning of a new leg up. As always, please do your own due diligence.


Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis

Silver Wheaton Corp. (USA) (Public, NYSE:SLW)

I normally show daily charts on my posts since most of my trades are fairly short term in nature. However, I also like to keep an eye on longer term charts to understand the larger trend in a stock and to maintain a better perspective with reduced noise for a stock. SLW is a stock that looks pretty choppy if you look at a recent chart, but if you step back and look at the weekly chart you will see that it is approaching all time highs. What makes this impressive is that silver has been looking quite weak lately and SLW is not following it down.

I'm not a big fan of rising wedge patterns as they can be nasty reversal patterns, but this almost looks like a triangle and I would say the difference is almost negligible. The bottom line is that if silver bottoms out soon, then SLW could be a very nice way to play this trend. I am keeping a close eye on that 12.50 area.

Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis JST

Jinpan International Limited (Public, AMEX:JST)

I mentioned JST as possibly bottoming in early June and it looks like it successfully held the 200 day sma as support. It traded up over 10% from where I mentioned it, but more importantly, it hasn't really given back too much in the recent market weakness. It is trading pretty tightly here, just over the 20 day sma. It looks like it will resume it's attempt at 23.07 shortly, and this make for another decent risk vs reward situation. Again, this is a very low float stock, so care is in order.

Good Trading,

Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis LRCX

Lam Research Corporation (Public, NASDAQ:LRCX)

It looks like there has been a possible rotation into the semiconductor space and LRCX could be one of the beneficiaries. It has been consolidating a very strong move that occured from March through early May. This has basically formed a very nice cup and handle base with LRCX trading near the bottom of the handle. Although it is trading under it's major moving averages, this looks like a low risk high reward setup due to the close proximity to stop loss placement ( probably about 15-20 cents under the May low or under the 200 sma for longer term traders.


Good Trading,

Joey

for more analysis, check out downtowntrader.com