Technical Analysis of Financial Markets
Friday, December 29, 2006
Helmerich & Payne Inc. (HP)
Anaren Microwave, Inc. (ANEN)
Manufacturer of wireless communication components Anaren has broken an 18-month trendline which saw stock price rally some 170% in that period. The broken trendline may signal a trend-reversal. However, price action held support at the 50% Fibonacci retracement level and is currently testing the underside of the trendline. Stop-loss for a long position: close below $17.15; stop-loss for a short position: close above $18.50.
Thursday, December 28, 2006
Diodes Inc. (DIOD)
Saturday, December 16, 2006
3Com Corp. (COMS)
3Com has broken support of an 18-month uptrend but has found support at the 61.8% Fibonacci retracement level at $4.01. Immediate resistance at $4.25 beneath the underside of the broken trendline. Stop-loss close below $4. Q2 fiscal year 2007 results scheduled to be released on December 20: http://biz.yahoo.com/bw/061212/20061212005639.html