First stock to make the grade on Friday was Huaneng Power International (HNP). After spending the majority of 2010 in a trading range, bound by $20.75 and $24.50, it cleared resistance on two strong days in September and is currently easing back on a confirmation test of $24.50 support. An initial target set by resistance is in the $28s - assuming the broader market doesn't take a seasonal nosedive! I have created a Trading Idea for a push to $28.79 with a stop at $24.19.
Huaneng Power International, Inc., together with its subsidiaries, engages in the generation and sale of electric power to the regional or provincial grid companies in the People's Republic of China. The company operates and manages power plants in China and Singapore. As of February 10, 2010, it owned 19 operating power plants, as well as had controlling interests in 17 operating power plants and minority interests in 5 operating power companies in China.
Last Tuesday, Highway Holding (HIHO) made the grade in a low key way. The stock hasn't set the world alight given it sits in the middle of a trading range. It could just as easily drift back to the $1.30s as it could pop to $3.20 so keep on the radar and wait for trading volume to improve.
Highway Holdings Limited, together with its subsidiaries, engages in the manufacture of metal, plastic, electric, and electronic components, subassemblies, and finished products for original equipment manufacturers (OEMs) and contract manufacturers in Hong Kong/China, Europe, Japan, Germany, North America, and other Asian countries. The company’s products are used in the manufacture of various products, such as photocopiers, laser printers, compact disc players, laser disc players, cassette players, computer equipment, electrical components, electrical connectors, cameras, clocks, automobile accessories, vacuum cleaners, light fixtures, electro motors, wireless chimes, air pumps and dishwashers, and other washing machine components.
Finally, last Wednesday saw National Health Investors (NHI), a REIT, make the cut in what has been a powerful rally for the real estate investment trust since its low in 2008. The rally is trading near the upper part of its range but any weakness into the low $40s would probably peak the interest of buyers. The break of $35 was enough to push the stock to multi-year highs so there is no overhead supply concerns to consider, other than how far can it extend beyond $35.
National Health Investors, Inc., a real estate investment trust (REIT), invests in health care properties, primarily in the long-term care industry in the United States. As of December 31, 2008, it had investments in real estate assets and mortgage notes receivable investments in 123 health care facilities consisting of 83 long-term care facilities, 1 acute care hospital, 4 medical office buildings, 14 assisted living facilities, 4 retirement centers, and 17 residential projects for the developmentally disabled in 17 states.
Let's see how they roll...
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