Kevi's morning charts 2nd Dec
Morning all,
Well who would have thought a strong night was ahead of us in the US as we heading into close yesterday afternoon? I'll raise my hand slowly...and here's why!
I flicked over a few stocks yesterday afternoon to see how most of the majors were holding up? ALOT were right on support levels, yet there were a fair few that closed in the green like the big four banks.. I also liked the fact that there were still some stocks rallying even with the 'market fear' starring us in the face.
Here is the Jb hi Fi (JBH) chart yesterday. Right on a major support with a long way to fall if it was broken as the next major support level was some way down. I actually think it might be a buying opportunity in most of the retails leading into xmas as we have factored in such a bearish xmas retail season.. (I may be wrong).
Here are a few index charts, the DJIA and also the XJO. The DJIA chart shows a very nice and convincing break last night from a falling wedge pattern. With the rising volume, I think its significant!
Now here are some stock charts of interest. This afternoons scans will be interesting as I would guess there will be a heap more reversals that show up after todays trading action.
Crane Group (CRG)
Bandanna Energy (BND)
Tiger Resources (TGS)
Independence Group (IGO)
Noble Mineral Resources (NMG)
Charter Pacific (CHF)
Atlas Iron (AGO)
oh and one chart which I did the night before last but havent posted it Aquilla Resources (AQA). Nice breakout.
Anyway thats enough from me.
Good luck today
Cheers
Kevi
