Acitve Stock Screening: October 9th

This screen was last run in August, but even during this short period there were a number of changes in qualifying stocks. Dropping from the top-8, as ranked by Market Cap, was CF Industries and Randgold Resources.  Vertex Pharmaceuticals jumped into sixth spot as Lululemon Athletica crept in to fill out the last spot

The Active Stock Screen used the following parameters:

• % Chg EPS; Q to last yr Q of 25% or more
• % Chg EPS; YTD to last YTD of 25% or more
• % Chg Revenue; YTD to last YTD of 25% or more
• Return on Average Equity of 17% or more
• 5-yr Revenue Growth Rate of 15% or more
• Market Cap of at least $50M
• Net Profit Margin of 18% or More
• Current price above $12
• Average 10-day volume above 250,000 shares

And it generated the following results:

While Baidu tops the list on fundamentals, on price it has been struggling. Technology stocks were hit hard over two days of heavy selling, as sectors dependent on strong economic conditions saw big outflows.  For Baidu, this has seen the stock drop sharply towards $100 support; $100 support was defended last October and July, and is a key psychological level, but it could struggle to hold for a third time given broader selling pressures. The stock has also struggled to make it back to resistance, with each successive swing high becoming lower and lower. Concerns around monetization of its mobile offerings are more of a long term issue, and analyst rating cuts only add to the panic. But the current sell is governed more by broader economic impacts on the technology sector, rather than stock specific issues.  A Zignals Alert set for a price cross below $100 would be a good time to take a second look at Baidu, and gauge whether there is an opportunity for a support buy, or if it's time to head for the exits.



Priceline suffered a sharp drop just three days after it featured here. Disappointing guidance was blamed for the sell off, but the company had just reported a 20% increase in revenue, with a net income of $7.85 which was ahead of analyst estimates of $7.36 a share.  While a guidance of $11.78 per share in net income may be viewed as disappointing, it's significantly ahead of the $9.95 reported for the comparable quarter last year. Historically too, Priceline is in the habit of coming in ahead of expectations. Stock price has recovered somewhat, but it's now in an area where 'weak' bag holders may decide enough is enough. A drift below $600 would probably see sideline money come in to support it.  Despite all this, the stock retained its second spot in the scan (as ranked by Market Cap).



HDFC Bank manged to buck the trend of the previous two stocks by actually moving higher.  The stock handily cleared $36-36.50 resistance at the second time of asking, helped by an earnings report which showed 30% rise in profit from the prior-year quarter. Deposits were also up 22%. However, the company also reported a 26% rise in costs for the same period. But overall, the news was deemed positive enough to support the breakout.  For a stock which is news-lite, there should be enough momentum to see it get to its next earnings release.



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Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies via his Zignals home page. Each Zignals member has an unique home page which they can share with friends and clients to sell their strategies.

Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell it in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.

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Active Screening: August 3rd

Back in March, our Active Screen had kept Apple in top spot. Has this situation changed over the course of a scrappy summer?

The Active Stock Screen used the following parameters:
• % Chg EPS; Q to last yr Q of 25% or more
• % Chg EPS; YTD to last YTD of 25% or more
• % Chg Revenue; YTD to last YTD of 25% or more
• Return on Average Equity of 17% or more
• 5-yr Revenue Growth Rate of 15% or more
• Market Cap of at least $50M
• Net Profit Margin of 18% or More
• Current price above $12
• Average 10-day volume above 250,000 shares

For the first time, this screen didn't feature Apple.

Topping the list is Baidu (BIDU). The stock was range bound in March and despite an attempted break of $140 in April it was unable to make the move stick and the stock returned into its base and back to the lows of $100.  The stock is mounting a new rally but the stock has work to do before it can clear what is stiff resistance in the $155-165 area.



Ranked in second place is Priceline (PCLN).  This stock was flying after it cleared $550 in February before it topped out arounf $775.  The stock subsequently eased into the $625-700 range and looks to be consolidating before its next move.


In third place is HDFC Bank (HDB).  The stock was ranked seventh in March.  While it's ranking rose it's action has remained relatively stagnant, with a drop-and-rally all to show for the past few months. $36.50 remains key resistance.


Fourth ranked is Intuitive Surgical (ISRG).  This stock was not ranked in March, but had featured in the past.  The stock had enjoyed a lengthy multi-year year which peaked around $600 in April/May.  It suffered a hard hit in July when sales figures fell.  This will likely take a few months to smooth out.  Up until the drop the stock was basing well and may look to $450 to find its footing once more.


CF Industries Holdings took fifth spot. Since the break of $100 the stock's rally has become somewhat erratic, but it has managed to sicne double in price to take it to $200 (although it bottomed at $36.91 in 2008).


In sixth spot is Continental Resources (CLR).  The oil and natural gas exploration firm has been in a steady price decline since the peak just shy of $100 in February.  The decline is relatively orderly and may evolve into a base around $60.  Until then, this is watchlist material.



In seventh spot is Concho (CXO).  This is a new player on the list. Like Continental Resources it has suffered a steady decline since the February peak as oil prices declined.  Look for basing action.


The last stock to qualify on the list is Randgold Resources (GOLD).  The stock is trading off its late 2011/12 highs close to the range of the 2011 base.  The gap below $100 will play as resistance on the recovery, but its first challenge will be clearing $95.



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Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies via his Zignals home page. Each Zignals member has an unique home page which they can share with friends and clients to sell their strategies.

Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell it in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.
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Active Screening: Apple Keeps Top Spot

Apple kept its hold on top spot, as it did in January.  With a $0.5+ Trillion market cap it feels like the stock is carrying the entire market rally on its back.  But what of the 'also rans'?  This month's list is one of the most eclectic which makes a change from the normally commodity-heavy components.

The Active Stock Screen used the following parameters:

• % Chg EPS; Q to last yr Q of 25% or more
• % Chg EPS; YTD to last YTD of 25% or more
• % Chg Revenue; YTD to last YTD of 25% or more
• Return on Average Equity of 17% or more
• 5-yr Revenue Growth Rate of 15% or more
• Market Cap of at least $50M
• Net Profit Margin of 18% or More
• Current price above $12
• Average 10-day volume above 250,000 shares

It's hard to think Apple was toiling around $363 in late November, stuck as it was in a trading range. At $585 a ticket it's somewhat rich to be buying; 20% above its 50-day MA and 46% above its 200-day MA it would need either to come back to one of these moving averages, or 'wait' for the moving average to catch up with price (by moving sideways for a time).  The new iPad is out, so it's stuck in a bit of a news lull and Q2 earnings not due until the end of April.  Given the blowout Q1 it's unlikely to repeat the performance in Q2; this might be the 'disappointment' the stock needs to skim the froth off the price.



In second spot (but up two spots from January), with just a tenth of Apple's Market Cap, is Baidu (BIDU). The stock is caught in a broad trading range, but is applying pressure to supply at $140 resistance. In the next couple of weeks it should have enough to see $140 broken and start a move to $155. The company releases earnings on April 26th as is projecting a soft Q1 after very strong quarterly earnings growth in 2011.  If there is any lingering goodwill from Q4 it could deliver a positive surprise and setup a challenge of $165.



In third spot is Apache Corp. (APA). This oil and gas exploration company has jumped into the top-3 having never previously featured on the scan. This sector is regaining its mojo as rising oil prices make it an attractive commodity play. The stock successfully broke through - and retested - its 200-day MA in February and is in the process of creating a 'Golden Cross' with its 50-day MA.  How much demand is in this rally will be tested when it gets to $115 and above.  A break of $133 will put it into the clear.



In fourth spot is Potash Saskatche (POT). Unlike the previous three stocks this isn't experiencing a price revival.  It currently trades below its 50-day MA and a downtrending 200-day MA, caught inside a $39-47 trading range. Optimistic bulls may look for a reversal head-and-shoulder pattern; if this was to play true then $42 would have to hold as support as this looks to be the swing low for the right-hand-shoulder of this pattern.  Supply kicks on a test of the 200-day MA and/or $50 - the latter was support for the first part of 2011. The company disappointed in its Q4 release, but it did off a series of strong quarters. If this proves to be just a blip in the larger scheme of things it might be offering good value, just know your risk.  Use Zignals Alerts to tell you when a certain price is broken.



In fifth place is a biotech stock, Celgene (CELG).  The stock enjoys the dual benefit of consistent earnings growth and increasing demand. Other than Q4 it usualy beats Wall Street Estimates and if it was to resume its past form it could contribute a solid boost to an already strong stock.  The stock is currently trading in the upper range of its channel, but buyers might be tempted if it was to undercut the 50-day MA, but stay within the confines of the channel.



In sixth spot is Priceline (PCLN).  This stock has been consistently there or thereabouts as others jumped in and out of the list.  This good form eventually paid dividends as the long standing trading range from 2011 between $450 and $550 was sliced in 2012. It quickly added $100 and is looking to surge again. Its consistency extends to Wall Street Estimates which have closely matched actual values. Q1 is a traditionally weak period for the travel company, although it's expected to exceed Q1 earnings from last year by nearly 60%.



In seventh spot is another list lurker in HDFC Bank (HDB).  Unlike Priceline (PCLN) it hasn't enjoyed the same success and remains locked in a trading range. While financials are catching a bid it's unlikely to see a significant increase in demand until $36.50 resistance is taken out.



The last stock on the list is Alexion Pharmaceuticals (ALXN).  Like Celgene (CELG) it has enjoyed excellent quarterly earnings growth, exceeding analyst estimates to a greater degree than Celgene.  Another strong quarter is projected for Q1. The stock is up against resistance of a bullish channel started in the summer of 2011.  The stock may be about to enter another consolidation phase as it did in October 2011 as it 'waits' for its 50-day MA to catch up with the advance. The stock looks to have an active bid around $84, so stop placement should go somewhere below this.



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Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies via his Zignals home page. Each Zignals member has an unique home page which they can share with friends and clients to sell their strategies.
Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell it in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.
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Active Screening: Apple Leads

It has been a couple of months since the results of this screen were last looked at, but a fresh run of the screen has seen very little change in the top ranked stocks (as ranked by Market Cap).

The stock screen used the following parameters:

• % Chg EPS; Q to last yr Q of 25% or more
• % Chg EPS; YTD to last YTD of 25% or more
• % Chg Revenue; YTD to last YTD of 25% or more
• Return on Average Equity of 17% or more
• 5-yr Revenue Growth Rate of 15% or more
• Market Cap of at least $50M
• Net Profit Margin of 18% or More
• Current price above $12
• Average 10-day volume above 250,000 shares

Apple's stellar quarter is likely to keep the stock in the no.1 spot for many more months to follow. It has been almost a year since this screen was first run and Apple still holds top spot. The stock was toying with its 200-day MA back in November, a situation which had previously offered great buying opportunities and it proved to be no exception once again.  The stock did briefly toil at its 50-day MA, but the stock didn't look back once it was able to put some distance from it. New buyers need to be looking to $420 support an area to hold on any retracement. This price should factor into any risk:reward calculation; the reward been a projected measured move target of $480. A Zignals Alert will help you track these two key price levels.



While Rio Tinto held second spot it had the dubious distinction of trading in a downtrend and was on course to test $40 support.  Since November it has been able to break upwards from the channel without making it back to $40; it currently lies just a couple of dollars shy of its 200-day MA at $60.  The next few weeks could see supply at the 200-day MA become more of an issue, although any retracement off its 200-day MA should find support at $58 (i.e. at its current price).  Given that, $58 is probably a good value price assuming the above plays out; stops go on a loss of the 50-day MA.



Another mining stocks occupies third spot. Barrick Gold (ABX) has been range bound since the latter part of 2010. This situation hasn't changed since last November, although the Accumulation Swing Index is favouring a bearish break of $43. Not helping is how converged 50-day and 200-day MAs are playing out as resistance. Value buyers may look to this as an aggressive entry opportunity, although stops would not be far below $43.



Fourth is still Baidu (BIDU). Back in November it had failed to hold an upside break of its 200-day MA, instead tumbling below both 200-day MA and its 50-day MA to leave it on a course to test $102.50.  It was able to gain some upward momentum from the broader market 'Santa rally', but it still had problems holding its 50-day MA. However, resistance connecting the swing highs from August looks to be more pressing. A break above this line should be enough to see a push above the 200-day MA too. Stops can go on a loss of the December swing low at $110.  The first target is $145.



Las Vegas Sands (LVS) has enjoyed a steady rally from the December swing low, but it has yet to test $50 resistance. A negative view on its Macau operations might crimp any drive past psychological $50, but there is little suggest in the chart that the market is dumping the stock.



Priceline (PCLN) was starting to show an ugly side back in November as it failed to break from a gently falling consolidation, and was soon followed by a 'Death Cross' between its 50-day and 200-day MAs. The stock eventually made it back to $450 where it was able to attract enough demand to see it hold this support level. Since then, the stock rallied to $525 where it has spent the past week shaping a small 'bull flag'.  The typical response from this pattern is a continuation of the upward trend with a measured target around $600; stops go on a loss of $510. Long term trend watches will consider Priceline range bound between $450 and $550 and may not be inclined to get involved until $550 breaks. If, on such a break of $550 volume expands, a revised upward target of $650 can be used.



HDFC Banks (HDB) was the only financial services stock to make the top 8 picks. In November the stock was struggling after it lost $28 support and was encountering resistance at its 50-day MA, but since then the stock has managed to clear a number of resistance points and trades at $31. The fact the stock has not only recovered from the significant loss of $28, but a declining channel connecting swing highs from last July, means shorts will be under pressure to cover (if they haven't already).  This demand will encourage additional funds in from the sidelines in the form of fresh buyers. TheStreet had downgraded the stock in mid-January to little effect on price action.



A third mining stock, Anglogold Ashanti (AU), occupies seventh spot. This stock has struggled to re-establish the 2010 bull trend, drifting from $52s highs to the current mid-$40s. Support can be found at $39 and the start of the 2010 trend at $35, but with both 50-day MA and 200-day MAs heading lower it's hard to see when this will break out of its funk. Bulls can look to sharply improving fundamentals, besting FY2010 performance, as an eventual trigger for a new upward trend.



The only new stock to make the grade was Continental Resources (CLR). This American oil and gas exploration company is not only enjoying solid earnings growth, but is one of the few qualifying stocks also enjoying a solid bullish trend. The stock is trading above (and successfully tested) $72 support. The break of $72 sets up a possible measured move target of $96 (risk is assessed using a stop below $72). The current rally was started from $46 in October and generated a 'Golden Cross' between the 50-day and 200-day MAs in December as it was trading around $62.


Remember, you can use Zignals Alerts to track when prices are triggered for any of the aforementioned stocks, or stocks you own or are interersted in.

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Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies via his Zignals home page. Each Zignals member has an unique home page which they can share with friends and clients to sell their strategies.

Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell it in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.

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Active Stock Screen: November 30th

Since the last update in November the S&P was trading at 1,262 and stocks were still enjoying the fruits of the October rally. Since then, markets have eased, although some of these losses have been recovered over the past three days.

Our group of 8 stocks, ranked by Market Cap, were led by Apple (AAPL), followed by Rio Tinto (RIO), Cnooc (CEO), Barrick Gold (ABX), Baidu (BIDU), Priceline (PCLN), HDFC bank (HDB), and Yanzhou Coal (YZC).

The stock screen used the following parameters:

• % Chg EPS; Q to last yr Q of 25% or more
• % Chg EPS; YTD to last YTD of 25% or more
• % Chg Revenue; YTD to last YTD of 25% or more
• Return on Average Equity of 17% or more
• 5-yr Revenue Growth Rate of 15% or more
• Market Cap of at least $50M
• Net Profit Margin of 18% or More
• Current price above $12
• Average 10-day volume above 250,000 shares

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Active Stock Screen: November 2nd

The previous running of this scan on October 19th was closely associated with the last swing high in the markets. The past couple of days have seen the bulk of these gains erased, but not to the extent markets are gasping for support. How have these losses impacted on our top-8 stocks as ranked by Market Cap?

The active stock screen used the following criteria:

Apple (AAPL) continues to hold top-dog spot and is trading well inside its rising channel. The 50-day moving average is playing as support. Even modest breaks of this moving average have failed to dampen buying enthusiasm. For now, this pattern remains unchanged until proved otherwise.




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Active Stock Screen: October 19th

The past month has seen a down-and-up which has taken markets back to where they started. At the end of the September the usual suspects topped the leading eight stocks ranked by Market Cap. What changed this month? Our active stock screen used the following criteria:

The number of qualifying stock dropped to 34. However, there was little change at the top.

Top dog is everyone's favourite, Apple (AAPL). Yesterday's earnings will put a dampner on today's trading, but the stock is likely to continue inside a newly formed rising channel and above $350 is additional support (not to mention the 200-day MA). Given the tumultuous past few weeks for Apple it's going to be interesting how the stock reacts going forward. A lengthy sideways consolidation - holding above $350 - would probably offer the best tonic. But for now, the stock is honoring a rising channel and trades are best held until this breaks.

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Active Screen: CANSLIM September 23rd

With the shaken-and-stirred action of the past few few days fresh in the memory, how has it panned out for our top-8 Active Screen stocks over the past couple of weeks. Our active stock screen used the following criteria:

The results were little changed, which highlights one of the weaknesses in fundamental screens in its failure to accomodate for momentum - Energy/Commodity stocks are getting killed out there; five of the top-8 (by Market Cap) belong to this underperforming sector. In defense of this scan, the 'M' of CANSLIM would remove all of these stocks from consideration.

Luckily, top dog remains Apple (AAPL). The consolidation played out to form, the tightening action eventually breaking in the direction of the trend (as dictated by the 200-day MA), i.e. higher. Important for the stock going forward is it remains above the consolidation - which really means holding above $390. Secondary level of support between $353-363.



Second place Vale S.A. (VALE) followed through on its bear flag; breaking below consolidation support, but also losing the July reaction low of $24.32. Rough times ahead. If a measured move was to evolve from this then another 24% could be trimmed off the price from the breakdown; this sets a downward target of $20.14.



Third place was Rio Tinto (RIO). It suffered a similar fate to Vale S.A. in breaking the Bear Flag and moving lower. Little to recommend at the moment.

Oracle (ORCL) was dropped so in fourth place is promoted Barrick Gold (ABX). Not surprisingly, Barrick Gold (ABX) suffered the same fate as its peers, dropping over the past couple of days, but not enough to see a challenge on trading range support. The stock has had a quiet 2011, but this low key approach may benefit it given the general carnage in the sector.



Prior weakness in Baidu (BIDU) resulted in the break of channel support. A break which was accompanied with higher volume, a confirmation of the breakdown. It's  currently on the way to testing $115 support.



Another commodity stock on the rocks holds sixth spot. Free McMoran Corp (FCX) had already lost support in early August, so this week's selling just piled on the pain. $33 support is now resistance. The best hope for bulls is a higher volume rally which closes above $33 over the next couple of days. If this was to happen then a 'bear trap' would emerge and a rally towards $42 favoured.



In seventh spot is Priceline (PCLN). The potential 'bear' trap has instead evolved into a wider, yet narrowing, consolidation. It's going to take a little longer for this consolidation to resolve. For now, it's above the 200-day MA with rising support just below.



In eighth spot is Yanzhou Coal (YZC). Unfortunately, the stock is in freefall since it lost $36 support at the start of August. It currently trades at $22 and doesn't look like it will be going higher anytime soon.

If you are interersted in creating your own CANSLIM stock screen you can do so here. You can read more, and watch a video, on creating an active stock screen here.

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Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies via his Zignals home page. Each Zignals member has an unique home page which they can share with friends and clients to sell their strategies.

Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell it in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.

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Active Screen: CANSLIM August 13th

With our updated screen criteria there were a couple of changes in qualifying stocks. Our active stock screen used the following criteria:

Of the stocks in this scan there was only one change from last month: CNOOC (CEO) was dropped and Rio Tinto (RIO) made a return. The remainder of the list was unchanged.

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Active Screen: CANSLIM v2 - Aug 25th

I picked up on a comment left on a previous CANSLIM article in March 2011.

CANSLIM/William O'Neil does not use any YTD to Last YTD comparisions. I suspect, you used these as the site lacks a Q to last Yr Q for the last 3 qtrs. In addition, it is acceptable to have prior qtrs be less than 25%, as long as you have accelerating EPS gains and the last Qtr is above 25%. You should add sales growth (Q to last yr Q) above 25%. As for annual earnings gain, the last year should be 15%, with 3 yrs of growing EPS - a 5 yr growth rate of 25% is ridiculus - as it would exclude many growth stocks that have started their move in the past year. You should also add in profit margins of at least 18%. Just to ensure institutional quality stocks, screen for stocks >$12, 250K in avg daily volume and within 20% of it's 52-wk high.

In response, I have tweaked our original scan to take on board some of R. Paluszak's concerns. Some of the issues raised can be addressed in a later version of Stock Screener, but based on existing Screener criteria the CANSLIM screen will adopt the following parameters.

Topping the scan is still Apple (AAPL). The stock will get plenty attention today following Steve Jobs announcement. Premarket prices show it trading around $366 which is above a thick band of support running between $355 and $362. The 200-day MA has risen to $342 which will offer another tier of support. Will investors buy the news?



Second spot is held by Vale S.A. (VALE). But this is a stock which is struggling to recover from a 24% trim in price at the start of April. It's doing what it can to hold $24 support but it's hard to see it getting past its 200-day MA or 50-day MA anytime soon.



The new search criteria has brought Oracle (ORCL) onto the list in third spot. However, having lost its 200-day MA in July it has experienced a steady march towards lower prices. Primary support exists in a thick band between $21-$23, but given it was quick to cut through July breakout gap support at $26 buyers may be less willing to step in. One to avoid.



Fourth spot goes to CNOOC (CEO). Stock price action is also sickly, falling hardest once its 200-day MA was breached. It's attempting to find support around $180, but even if the stock does bounce it will quickly run into resistance marked by prior swing highs. Look for narrowing price action in the months ahead.



Fifth on the list is Barrick Gold (ABX). Unchanged from before is all one can say here. Stuck in the middle of its trading range.



Sixth was Baidu (BIDU). The recent decline held converged 200-day MA and channel support. As long as the sequence of higher lows and higher highs is retained the trend is bullish and buys are favoured. The one negative has been the tepid buying volume on up days compared to selling volume on down days.



Next up is Free McMoran (FCX). The stock has gone from breakout, to breakdown, to failed rally. It held $42 support which offers an opportunity for buyers to launch a second attack on $47 resistance. A failure to do so would bring into play next support at $32.



The final stock on the list is Priceline (PCLN). In the last update it was trading at support, but has since lost trend support on a gap down. It's in the process of confirming the break with a mini-rally. Shorts are likely to be active at current prices with the breakdown gap all but closed. A move above $500 would likely send them scrambling, but until then it may be one to sit out and see how it plays out.



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Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies via his Zignals home page. Each Zignals member has an unique home page which they can share with friends and clients to sell their strategies.

Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell your trading strategy in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com.

JOIN US TODAY - IT'S FREE!

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