« Notable Charts 050621 | Main | Notable Charts 050623 »
June 22, 2005
Notable Charts 060622
GOOG - The decline in Google looks like a falling flag correction within an ongoing uptrend. The breakout over the last few days is bullish and opens the door to another test of 300. Notice the long white candlestick and high volume on Monday. A move below Monday's low would negate the falling flag breakout and turn the chart bearish. The downside target would then be around 240-250.
DST - DST Systems broke falling price channel resistance with a strong high volume move in May and then corrected with a falling flag in June. The stock moved higher over the last two days with good volume and broke the upper trendline to signal a continuation higher.
CMCSA - After what looked like a triangle support break and bearish signal last Thursday, Comcast rebounded with good volume and broke above the upper triangle trendline. Upside volume has been stronger than downside volume the last two weeks and I am expecting higher prices. Watch support at 31.3 for proof otherwise.
CPO - Corn Products continues to bounce with good volume. The stock tanked in April, but firmed immediately and broke triangle resistance. Thes tock is breaking trendline resistance now and upside volume remains strong.
DV - Devry failed to partake in the May rally or follow through on the April gap. Thes tock formed a rising wedge/flag over the last few weeks and broke trendline support on Monday. Looks like a trend reversal and move into the teens.
Posted by Arthur B. Hill at June 22, 2005 11:29 AM