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stock ticker, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Thursday: BID; PVN
Wednesday night play results:
BEAV: Another good volume session but backed well off high. Still looks solid.
PVN: Nice continuation of the rebound following the breakout test.
SINA: Was not the day to continue its rebound as it fell to the 10 day EMA on lower trade.
New plays for Friday:
Upside:
Play Date: 06/17/2004
ALAN (Alanco Technologies--$1.31; -0.04; no options): Manufacturing machinery
http://biz.yahoo.com/p/a/alan.html
STATUS: Reverse head and shoulders. After a huge surge in early April, ALAN gave back the entire move. It held at the 200 day SMA (0.91) on the low and then rallied to form the right shoulder of the six week pattern. The left and right shoulder both used the 50 day EMA (1.19) as support. Last week ALAN jumped off the 50 day on rising volume, making a quick breakout. This week it came back to test the move, holding at the simple 50 day MA (1.30) on the Thursday close, showing a very tight doji at that level. The doji showed a long 'tail', and that tells us that ALAN is ready to resume the move higher. Solid 3 to 1 accumulation (3 up price weeks on rising volume to 1 down price week on rising volume) in the base shows us money still moving into the stock. Money flow remains strong, and we want to see the volume jump as it resumes the move higher.
Volume: 300.817K Avg Volume: 1.156M
BUY POINT: $1.55 Volume=1.7M Target=$2 Stop=$1.38
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/alan.html
Play Date: 06/17/2004
STNR (Setiner Leisure Ltd.--$21.00; +0.98; no options): Spa services
http://biz.yahoo.com/p/s/stnr.html
STATUS: Cup w/handle. We have been watching STNR in the handle of this 8.4 month base. Volume was jumping higher on a few session the past three weeks, a sign it is getting ready to make a move. Thursday it jumped off the 18 day EMA (20), the support for the handle, as volume started higher, hitting average. It backed off the high (21.62) on the close. Still looks solid with strong money flow to match the strong 11 to 2 accumulation. Looking for it to turn back up and put in an even better volume session to move into positions.
Volume: 84.15K Avg Volume: 70.545K
BUY POINT: $21.24 Volume=106K Target=$25.48 Stop=$19.89
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/stnr.html
Play Date: 06/17/2004
RVI (Retail Ventures--$9.00; -0.02; no options): Retail, department stores
http://biz.yahoo.com/p/r/rvi.html
STATUS: Breakout test. RVI blasted out of a short but nice 9 week cup base Monday, as it continued the strong volume surge that started two weeks back. After a run to 9.50 on the breakout move, it has come back to tap the 10 day EMA (8.52) on the Wednesday and Thursday low, and then leapt back up Thursday on tremendous trade. Strong 3 to 0 accumulation in the pattern set up the move. The first test of a breakout is one of our favorite entry points. Ready to move in on a further move higher on decent volume.
Volume: 312.1K Avg Volume: 89.863K
BUY POINT: $9.11 Volume=250K Target=$11 Stop=$8.47
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/rvi.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
ALDN, BRCM, CECO, COH, DNA, EBAY, GTRC, LPNT, TGT
TGT: After the big gap that could not hold last week, TGT is showing some fortitude, holding over the 10 day EMA and working laterally on lower volume. Good action in a weak market. Looking for it to hold and burst back through 46.82 as the next buy point.
SUBSCRIBER WATCHLIST
We continually receive ideas for potential plays from subscribers. Many times they are already on our watchlists, other times not. We always take a look and sometimes find a gem or two, or more. We don't necessarily endorse these, but want to provide a forum for subscribers with ideas that may appeal to other subscribers. We may just put on the ticker or we might describe our thoughts as to why or why not we think it is a buy or sell. This is a way we can all learn a bit more and maybe find a few more candidates to make us some good money.
Upside:
CRZO: Burst higher Thursday as oil and gas stocks performed well. A short 7 week double bottom with handle had formed over the 50 day EMA. Solid breakout.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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stock ticker
stock recommendation
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