Stock Chart Analysis HDNG
Hardinge Inc. (Public, NASDAQ:HDNG)
While I'm not advocating going net short right now, I am taking some short positions if the chart setup looks decent. HDNG is one that may be rolling over and could offer a nice drop in quick order. HDNG had a sharp drop after reporting earnings in early August, but then had an equally sharp bounce higher a couple of weeks later. It has been struggling with the area highlighted below recently, and just lost the support of the 50 and 20 day sma's. While I won't ignore the recent strength in this stock, the fact is it could be rolling over and may drop all the way to the trend line near 28. The risk may well be worth the potential reward.
Good Trading,
Joey
for more analysis, check out downtowntrader.com
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Good Trading,
JoeyStock Chart Analysis CPLA
Capella Education Company (Public, NASDAQ:CPLA)
CPLA has barely budged during the few recent weak market days and remains near all time highs. It has pulled back very gently to it's rising 20 day sma and could find support there. There is a decent chance it pulls back further, but I'm keeping an eye on it in case it decides to break out here.
Good Trading,
Joey
for more analysis, check out downtowntrader.com
Stock Chart Analysis KCI
Kinetic Concepts, Inc. (Public, NYSE:KCI)
KCI gapped out of a base in late July and has had some volatile swings as it tries to consolidate the break out. If pulled back to the breakout area and is trying to re-establish the prior uptrend. It reclaimed the 20 day sma and appears to be using it for support. It is close to breaking the downtrend line shown below and could break to new highs soon if the markets cooperates.
Good Trading,
Joey
for more analysis, check out downtowntrader.com
