Technical Analysis of Financial Markets

Friday, February 23, 2007

Applera Corp-Applied Biosystems Group. (ABI)

Applera engages in the development of scientific & technical instruments for use by the biotechnology industry to research & develop pharmaceuticals. Having declined 21% over a 4-month period, stock price seems to have currently found support at the $32-level which served as support 6-months prior. Recent good buy-volume, and formation of a bullish-reversal Hammer candlestick, combined with oversold conditions may suggest a reversal in price action. Stop-loss close below $32.

Friday, February 09, 2007

Gold Fields Ltd. (GFI)

South African gold miner Gold Fields is currently trading at around $16 which has served as support for 14 months. Recent good buy-volume may suggest price action is beginning to reverse a 9-month downtrend which saw stock price decline some 65%. Stop-loss close below $16.

QLogic Corp. (QLGC)

Manufacturer of semiconductor & integrated circuits technology and developer of storage network components, QLogic, has declined 27% in under 3 months and has currently found support at the $18-level. Oversold conditions suggest price action may be poised for a rebound. Initial price target towards 38.2% Fibonacci extension at around $20. Stop-loss close below $18.