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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Weekend play results:
SEM: Doji that tapped at the 10 day EMA on the high on rising trade. Looks ready to roll over.
BRCM: Did not participate, gapping higher but giving it back on lower trade.
DJO: Gapped lower on rising trade.
IMCL: Started higher but below average volume continues.
MANT: Another solid, above average volume move.
New Plays:
Good movers Monday: ASKJ; BR; HLEX; IDSY; JAKK; MANT; RIMM; SNTS
Upside:
Play Date: 05/24/2004
FCEL (Fuelcell Energy--$15.64; +1.25; optionable): Developing commercial fuel cells
http://biz.yahoo.com/p/f/fcel.html
STATUS: Test 50 day EMA. FCEL broke out of a 5.5 month cup with handle base in mid-April and surged to 20. The market selling took its toll, dropping FCEL below the breakout point. It held at some support at 14, moved laterally, and then jumped higher Monday on a good shot of above average volume. Accumulation in the prior base was a solid 8 to 4 (8 up price weeks on rising volume to 4 down price weeks on rising volume). Money flow is rallying higher ahead of price, showing very good strength. Looking for FCEL to resume its move after this break back over the 50 day EMA (15.43).
Volume: 1.428M Avg Volume: 919.318K
BUY POINT: $16.12 Volume=1.4M Target=$19.54 Stop=$15.05
POSITION: FQG JC - Oct. $15c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/fcel.html
Play Date: 05/24/2004
PLXT (PLX Technology--$14.05; +0.26; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/p/plxt.html
STATUS: Breakout test. Exploded in a strong breakout mid-April and ran to 15. It held up very well in the market selling, falling back to the 18 day EMA (13.68) and holding over that support level the past three weeks. Low volume test following the breakout. Excellent 7 to 3 accumulation in the base, setting a great foundation for the breakout and run higher. Volume started edging higher Monday. Looking for a break higher but need to see a lot of volume coming back in as it makes the move as that shows us the buyers are back in town.
Volume: 157.362K Avg Volume: 243.863K
BUY POINT: $14.72 Volume=366K Target=$17.68 Stop=$13.65
POSITION: PIU JC - Oct. $15c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/plxt.html
Play Date: 05/24/2004
RHB (Rehabcare Group--$23.95; +0.80; optionable): Hospitals
http://biz.yahoo.com/p/r/rhb.html
STATUS: Cup w/handle. Very nice two week handle forming to its 18 week base consolidating the November to January run. A late bloomer in the rally, but that is good in this case as other stocks are extended and this sector is finding money rotating from the other sectors. Excellent 5 to 1 accumulation in the pattern and very good price/volume action in the base: dried up on the lows, rallied as it moved up the right side of the base, and then backing off as it had moves laterally in the handle. Very good looking pattern.
Volume: 69.8K Avg Volume: 141.318K
BUY POINT: $24.33 Volume=212K Target=$27.98 Stop=$22.72
POSITION: RHB JF - Oct. $25c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/rhb.html
Play Date: 05/24/2004
TWW (Terremark Worldwide--$0.98; +0.08; no options): Foreign telecom
http://biz.yahoo.com/p/t/tww.html
STATUS: Cup w/handle. TWW is working on the breakout move from an 11 month base sporting excellent 14 to 7 accumulation. Volume has started to surge the past two weeks and was shooting higher Monday. Money flow is huge, shooting higher ahead of the stock. Looking for it to continue the move and give is a big breakout. This is our initial target; if it is really moving, we will let it run. Low price, excellent daily volume.
Volume: 1.517M Avg Volume: 312.318K
BUY POINT: $1.06 Volume=468K Target=$1.39 Stop=$0.99
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/tww.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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