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Registered User
Joined: 1/8/2005
Posts: 10
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Seems that the technicals and fundamentals are looking good however it did drop substantially on Friday
Gmaier
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Registered User
Joined: 12/18/2004
Posts: 180
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I dug it up recently through a scan. I haven't checked the fundamentals. As far as the technicals go, it looks like it might decide to pull back to around $28. This is where the 50-day simple moving average currently is. I had one daily stop trigger on it Friday. The stop was based on the standard deviation of closing prices. It didn't trade outside of its normal range, though, and volume did not expand. If it takes out the high two days ago, it might be a buy, and a pretty good risk reward (using the August high as your initial price target). On the other hand, if it continues to pull back on contracting volume, reassess it at around the 50-day moving average.
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Registered User
Joined: 12/18/2004
Posts: 180
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Also, MG835 took quite a hit on Friday. Part of that was probably due to CREE. Do you know when TSRA is due to report earnings?
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Registered User
Joined: 12/8/2004
Posts: 1,301
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It's 50da moving average is below it's 150 day moving average which is below its 200 day moving average. The stock is still in a downtrend. I don't care what the other technicals show. This stock has had 6 months for its 50 day moving average to move above the 150 day moving average. It hasn't come close. I wouldn't buy this stock right now under great market condtions, and I especially wouldn't buy it under the current conditions. In fact, I may short it on Monday.
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Registered User
Joined: 12/8/2004
Posts: 1,301
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It reports on February 1, 2006
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Registered User
Joined: 12/18/2004
Posts: 180
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QUOTE (HaveNoCents) It's 50da moving average is below it's 150 day moving average which is below its 200 day moving average. The stock is still in a downtrend. I don't care what the other technicals show. This stock has had 6 months for its 50 day moving average to move above the 150 day moving average. It hasn't come close. I wouldn't buy this stock right now under great market condtions, and I especially wouldn't buy it under the current conditions. In fact, I may short it on Monday.
I agree that you should not consider any long positions in this industry group at this time. Its moving averages are in downtrending order because, well, it is in a downtrend. I would not consider it in an uptrend until it takes out the August high, and holds above this level. Notice that it has built support at $26, or just below. If one was really daring, and the market was good, I suppose that he/she could take a chance on it if it breaks above the high two days ago, or rebounds from the 50-day moving average, with the intent on getting out right away.
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