Breakout from a consolidation period. I also see a double bottom that has broken above the reaction high. Short term I see this going to $37. This stock pays a really high dividend of over 6%.
Wednesday, June 29, 2011
Tuesday, June 28, 2011
This stock has a high dividend yield I see as a good look term buy for the portfolio. From my previous post DUK has moved into the buy zone (box). Not a tremendous day today but it does look like it bounced off the support and is moving higher (albeit slowly).
Thursday, June 23, 2011
I am watching this stock for 2 reasons:
1) Bull View - The stock has had a 4 day buying run... the most this year for the stock. Stochastics look strong (shooting above 50). The financially this stock has made money for the past 4 qtrs with good cash flow and very low debt. They have recently started turning a profit.
2) Bear View - The $4.20 level is a big prior support level. This could act as a big resistance level as all the people who bought above 4.20 are going to want their money back.
I think the price action will pull back around this 4.20 level. If the bull view prevails it will pull back slightly and launch past the 4.20 level. If this is just a short squeeze the stock could pullback and fall b/c of the overhead resistance.
Tuesday, June 21, 2011
I would be a buyer right around the area where the 50ma and the 50% retracement meet. Not a high beta stock but this stock has great dividends. Good for a long term hold IMO. I'm waiting for a pullback to support before I get in. Todays red candle looks to be a dark cloud formation and could signal a reversal.