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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Monday play results:
ARTI: Gapped higher but could not hold the move.
EEFT: Nice volume move continues
MYK: Still solid, working on the handle.
WWCA: Still in good shape on the test.
BRL: Gapped up on some stronger trade. Will let it run and see if it runs out of gas and rolls back over
New Plays:
Upside:
Play Date: 05/11/2004
ACLS (Axcelis Technologies--$11.47; +0.65; optionable): Chip equipment
http://biz.yahoo.com/p/a/acls.html
STATUS: Double bottom/reverse head and shoulders. You can call this either one, and it looks good either way. It bounced off the 200 day SMA (10.26) on the last two dips, holding at that important support level and rebounding. Volume has been light while ACLS worked in its base, rallying the past two weeks as it came off of the 200 day. A good 14 week base sporting solid 4 to 2 accumulation (4 up price weeks on rising volume to 2 down price weeks on rising volume). That shows us money has been moving into the stock as it corrected, and money flow is rallying ahead of price. Nice bounce off the 50 day EMA (10.93) Tuesday on some rising though still below average volume. Looks ready to move with the semiconductors.
Volume: 1.249M Avg Volume: 1.248M
BUY POINT: $11.82 Volume=1.9M Target=$14 Stop=$10.99
POSITION: ULS JB - Oct. $10c (75 delta) &/or Stock
http://www.investmenthouse.com/ci/acls.html
Play Date: 05/11/2004
MATK (Martek Biosciences--$68.01; +1.78; optionable): Biotechnology
http://biz.yahoo.com/p/m/matk.html
STATUS: Reverse head and shoulders. MATK is working through a nice 15 week base sporting solid 4 to 2 accumulation in the pattern. Excellent money flow is leading ahead of price and relative strength is already breaking out. Money flow is swelling the past two sessions. Looks ready to make its breakout as it has held up very well during the market selling. Indeed, it is ready for an all-time high.
Volume: 587.234K Avg Volume: 585.545K
BUY POINT: $69.72 Volume=878K Target=$80 Stop=$65.82
POSITION: KQT IN - Sept. $70c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/matk.html
Play Date: 05/11/2004
BPA (Biosante Pharmaceuticals--$6.54; -0.04; no options): Biotechnology
http://biz.yahoo.com/p/b/bpa.html
STATUS: Cup w/handle. A new issue in October, BPA is now working through its first base, a 15 week pattern with excellent 5 to 2 accumulation. Money flow is surging ahead of the price even as it pulls back. The base formed more or less over the 50 day EMA (5.84), a sign of support for the stock even though it is new. This handle is actually the test of a breakout from the pattern that formed no handle the first time. Nice pullback on low, low volume. Now all it needs is another high volume break to the upside.
Volume: 63.4K Avg Volume: 102K
BUY POINT: $6.78 Volume=153K Target=$8.15 Stop=$6.35
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/bpa.html
Good Investing!
Jon L. Johnson and your IH Alerts Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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us stock market
stock recommendation
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