Stock Chart Analysis JRJC

China Finance Online Co. (ADR) (Public, NASDAQ:JRJC)

JRJC has held up pretty well this morning and looks like it wants to test a break out. Buyers have been stepping up on most pullbacks and overall this is a very good looking chart structure. The first step would be a close over the 20sma, followed by a move over the trendline showing the top of the base.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis DWSN

Dawson Geophysical Company (Public, NASDAQ:DWSN)

DWSN has been a very solid performer over the past year, and they recently stepped it up with a strong move from August through September. The move was sparked off by a high volume gap and it's never come close to filling the gap. It is in the process of consolidating, forming a triangle that looks pretty orderly. As I've mentioned in the past these are usually continuation patterns and DWSN is in a spot where a low risk entry can be had. Any move over 83 will probably lead to new highs.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis GWW

W.W. Grainger, Inc. (Public, NYSE:GWW)

GWW is looking like it has some more room to the downside here. It failed to match it's previous high and then dropped on increased volume. It cleared an established channel to the downside in the process and could be headed all the way down to the bottom of a larger possible consolidation pattern. If the markets react negatively to whatever the Fed has to say, then I think GWW is a pretty decent short setup.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis CTEL

City Telecom (H.K.) Limited (ADR) (Public, NASDAQ:CTEL)

While the media continues to talk about the "bubble" in China, the underlying stocks keep moving higher. Recently, there has been some profit taking in the sector in general, but there are stocks making large moves everyday. Take a look at EFUT and HMSY today, and YTEC and HMIN last week. I'm not too worried about a bubble bursting when everyone is watching for it. A bubble only bursts when everyone is positive about it and buys in. Here is a chart of CTEL which recently had a huge move almost tripling from low to high. It has been pulling back on decreasing volume and is starting to turn back up on the 20sma. This could easily double from here on a retest of the high, although it would more then likely resolve into some form of a triangle before breaking out. Either way, there is a good chance that the recent low will hold for a rally attempt.

Good Trading,


Joey

for more analysis, check out downtowntrader.com