Stock Chart Analysis URRE

Uranium Resources, Inc. (Public, NASDAQ:URRE)

Metals reversed off their lows this morning and had a very strong session at an important area in their charts. While I'm a little nervous about the general markets after their quick rebounds over the past week, metals look like they are just starting to resume their uptrends. URRE is a chart that is looking pretty decent with it just a couple of points from all time highs. It recently cleared a large base and has come back to retest the breakout area. If it holds this area then a reasonable target is near 18-19.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis CDS

China Direct Inc. (Public, AMEX:CDS)

I commented on the other blog last night that I've been seeing some money flow back to the China sector and today there were some large moves in several names. It's tough to find good risk vs reward setups coming out of sound bases in this sector, but I think CDS may fit the bill. CDS is one of the few lower priced China stocks that didn't retrace their full breakouts. In fact, it has held an orderly channel that looks like a large bull flag. It looks to me like it just cleared the consolidation base and if it behaves like a pennant breakout, then the target takes it to 18. Also, while this is not a high volume stock, the trading volume is enough that slippage shouldn't be a huge issue.


Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis PAAS

Pan American Silver Corp. (USA) (Public, NASDAQ:PAAS)

The gold bugs index ($HUI) had a break out on the weekly chart in September with several mining stocks hitting multi year highs along with it. Most have been under pressure recently and are in an area where a pullback may be complete. PAAS for instance surged in late October and early November and has since retraced about a third of the rally from top to bottom. It is now oversold and sitting near the previous breakout area which could provide support. Fridays low may end up holding for quite some time.



Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis OMCL

Omnicell, Inc. (Public, NASDAQ:OMCL)

OMCL recently broke out to all time highs, but ended up retracing the whole breakout. While this is not normally a bullish sign, the fact is that it did end up holding support and it has been forming a base over previous resistance. The small base it has been working on looks like a reverse head and shoulders with a projected target over 30 if successful. It looks like a close over 27 would seal the deal so I am watching to see how it handles the 50 day sma as resistance.


Good Trading,


Joey

for more analysis, check out downtowntrader.com