Archive for February, 2013

Retailer Day – Premarket Stock Talk

Retailer earnings day.  Earnings from JCP, GRPN, LTD, KSS, SHLD, and DPZ.  We’ll analyze their key technical levels.  Can the market build on yesterday’s rally?  Premarket trading analysis:

Stock Chart of the Day: HPQ

One of the dogs that has been barking as of late is HPQ.  After announcing stellar earnings and raising guidance on February 22nd, it broke out of the major resistance at 17.15 and has not looked back.

However, during the last three of four trading sessions, the issue has topped out just under the strong psychological resistance of 20.  Even in today’s furious rally, it was unable to close above 20.  With today’s close at 19.77,  it will have a running start at the institutional sellers perched at that level and it may be taken out.  Above that level, there is only minor resistance at the July 2012 high of 20.42 and major resistance at the June 2012 high of 21.61.  If you’re looking to protect profits on the long side (or trying to breakeven from a wayward purchase) a break below the double bottom from Monday (19.03) and Tuesday (19.05) may be a reason to exit the issue.

Support and resistance levels for tomorrow’s trade:

HPQ

Price

Significance Level Reason
20.42 *** 7/05/12 high
20.25 ** 8/21/12 high
20.10 *  
19.83-.92 ******** 3 of 4 previous highs
19.77 CLOSE 19.79 – Tuesday close
19.61 ** Wednesday low
19.45 *  
19.20 *  
19.03-.05 ***** Monday/Tuesday lows

Consolidation – Premarket Stock Talk

After a couple of wild sessions, the market is consolidating a bit here this morning.  1482 remains huge in the S&P futures.  Earnings from PCLN, FSLR, TGT, DLTR.  COH exploring a possible sale.  Premarket trading analysis:

Stock Chart of the Day: BBRY

Different name, different stock symbol, similar products and similar stock price is the best way to describe BBRY.  Since the symbol change, which occurred when the issue was at 13.02, the stock has catapulted to 17.22, but has now returned to this level.  With today’s attempt to break the major support at 13, the technical outlook for BBRY has further deteriorated.


In the short term, BBRY found support today at 12.56 and rebounded with the market to close at the magical 13 level.  If 13 can hold early in tomorrow’s session, the bulls can approach today’s action as a possible end to the correction from 18.22.  If not, and 12.56 is breached, BBRY may be heading back to single digits.

Here are the key support and resistance levels to focus on:

BBRY

Price

Significance Level Reason
13.76 *** Monday high
13.45 ** Tuesday high
13.26 *  
13.06 CLOSE  
12.81 *  
12.56 *** Tuesday low
12.40 *  
12.27 **  
12.15 **** January 31 low

 

Looking Heavy – Premarket Stock Talk

We are getting a bit of a bounce this morning after yesterday’s bloodbath, but stocks are still looking a bit heavy.  Will the bounce be short-lived?  Earnings from HD, AZO, M.  Premarket trading analysis:

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