Some New Names
Volume will return, but not immediately. People will start wading in slowly to
get a feel for the situation.
Today’s Watchlist:Â
(
NXTV |
Quote |
Chart |
News |
PowerRating),
(
FCEL |
Quote |
Chart |
News |
PowerRating)
Next Level Communications
(
NXTV |
Quote |
Chart |
News |
PowerRating)
was crushed a few weeks ago on news, and it’s moving back up again thanks to the
same catalyst. For low-level traders, the stock already broke out from one
pattern. Now we will watch for a closing move above the resistance level that is
highlighted below. Although it was trading there when this chart was made, it
moved lower once again. If it can close above this level, watch for another left
up on Friday. As with any low-level pattern, there may be resistance at each low
point on the charts. The 50-day MA may be a factor, but it’s 20 points away.
Fuel Cell Energy
(
FCEL |
Quote |
Chart |
News |
PowerRating) was a stock that I looked at about
a thousand times but never traded. At this point, it seems that it has
established an uptrending channel. The bounces off the top and bottom of the
channel seem to be quite efficient, creating a good channel. Watch for a
continuation of the current pattern. The volume has been dying down since the
initial breakout, which may signal an end to the trend. As always, remember to
use stops.
Until later,Â