Stock Chart Analysis GLNG

Golar LNG Limited (USA) (Public, NASDAQ:GLNG)

GLNG has been trading a in a repeating series of high volume breakouts followed by lower volume consolidation patterns. This is of course healthy and fairly typical in sustainable trends. I've been keeping an eye on GLNG because as the markets were taking a beating and dry shippers were being taken out to the woodshed, GLNG refused to budge. While technically GLNG is in a different shipping sector from the dry bulks, I would of expected some of the weakness to spill over. It didn't and GLNG has been patiently hanging out near it's all time highs. It looks like GLNG is attempting to breakout of it's recent consolidation base and with that move it's possible that it will break out to new all time highs.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis SNHY

Sun Hydraulics Corporation (Public, NASDAQ:SNHY)

SNHY had an incredible run from early this year through it's peak in July. It then had a pretty swift and steep correction, before leveling off into a W bottom. It then tested the previous highs and has since been in a consolidation range between the W bottom and yearly high. It looks like there is a chance that it will set a low here at the previous W breakout area and head back up to challenge for a breakout. The worst case scenario is a stop out for a small loss, but with a little luck and a decent rally in the markets, SNHY could ultimately breakout to new highs.

Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis VMW

VMware, Inc. (Public, NYSE:VMW)

The Case for VMW

VMW has been hit hard the past few days and while it rarely pays to catch a falling knife, there's nothing wrong with picking it up off the floor after it's been dropped. I won't wax poetic about their product in this post, although being in the IT industry, I see everyday how they are dominating their niche market. What I will talk about are some technicals and possible market psychology trends that could influence VMW.

VMW has been one of the best performers this year opening well above it's $29 IPO price and closing at $51. It then moved in a very steady trend peaking at $125.25 just 56 sessions later. It has had a very steep pullback dropping almost 50 points in just 7 sessions. It has pulled back into it's 50% Fibonacci retrace and prior consolidation area. While it's still in a freefall, this is an area that "should" hold if all is well with the company. And while it may not bounce up in a straight line, it makes sense to start watching it, because there are a few seasonal trends that may influence them. First, a lot of traders missed VMW, and have been waiting for a pullback to get in, and this is the first time VMW has made the trip to it's 50 day sma.

Second, we are starting to approach a seasonally bullish period for stocks and then there is the year end window dressing period. Window dressing is when fund managers pick up the hot stocks of the year late in the year so they can report them as holdings in their annual reports, while simultaneously dumping laggards they prefer to not brag about. I can't think of too many stocks that would be more attractive for this type of trend then VMW. So again, it's probably early, but I would be shocked if VMW wasn't back over $100 by the end of the year.


Good Trading,


Joey

for more analysis, check out downtowntrader.com