Stock Chart Analysis HOKU

Hoku Scientific, Inc. (Public, NASDAQ:HOKU)

Late this afternoon as all the solar stocks were making fresh lows, I saw HOKU trading higher. There is no news I can see that drove the stock, so I figured I would take a closer look tonight. In looking at the chart, it looks very sloppy and volatile. It can't seem to hold any breakouts, but it also resists falling apart. This is what ends up creating a solid base as market participant play the tug of war game with the price. One thing I did find interesting though, is how price has been bouncing off the 200 sma the past few dips. It has been very consistent after the breakdown that was followed up by a gap surprise. It looks to me like that gap will remained unfilled, and there is a better then decent chance that HOKU ends up forming some sort of important low in this area. And if by any chance HOKU gets over $14, then I pity whoever is stuck short.



Good Trading,


Joey

for more analysis, check out downtowntrader.com

Stock Chart Analysis VIVO

Meridian Bioscience, Inc. (Public, NASDAQ:VIVO)

VIVO is a stock that got away from me early last year when it broke out of a lengthy base. It had a very nice run before beginning a consolidation period last October. It looks like it had a false breakout this January before falling back into it's base. It just reclaimed it's 20 and 50 day sma today, and found support at the bottom of the large base it's forming. If it can get back over 33 then it should come back for a retest of the prior highs. The prior highs also happen to be all time highs so a short squeeze could be in the works.



Good Trading,


Joey

for more analysis, check out downtowntrader.com