Point & Go Figure
Below are some charts that caught my eye, as well as some that were requested by Minyans. If you would like a chart reviewed, let me know here.
I have added text and illustrations to the charts where necessary.
All charts courtesy Dorsey, Wright & Associates.
CNOOC Limited (CEO)
Now that Unocal (UCL) is a rearview mirror memory, CEO has broken a triple bottom at 69; trendline support at 63.
GlobalSantaFe Corporation (GSF)
GSF has broken a double bottom at 44, but this follows the unbroken double top at 48, which is the definition of a shakeout pattern, a bullish formation that serves to shakeout weak holders of a stock. Support is at 40.
Murphy Oil Corp (MUR)
Sealed Air Corporation (SEE)
SEE has moved to the bottom of its 18-month range.
Crude Oil Continuous
Crude Oil continuous chart has given a new sell signal; the downside count is to 56, still above long-term trendline support in the 53 area.
Biotech HOLDRs Trust (BBH)
The BBH has met the long-term price objective of 200, established with the April breakout at 146. Price objectives are not written in stone, but in terms of evaluating potential reward based on risk they do assist in judging entry points.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter