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Month June 2009

Entries 3 Total

The Shaw Group (SGR) : Bearish Indicators

Jun 30, ’09 4:11 PM

I would have thought that counter like SGR will be a bullish play (assuming that they will benefit from infrastructure spending).

However, my charts doesn’t say so. Ichimoku has some bearish indicators on Shaw Group.

1. Tenkan sen cuts Kijun sen on June 24 and penetrated the kumo support.

2. We can also see the 50 day EMA and 200 day EMA is forming a resistant at above the current price level.

3. On the Weekly Chart, we can see that the kumo is also acting as a resistant.

4. Daily chart is showing that the leading kumo is twisting and trending downwards; a sign that it is a bearish play.

5. Support is sighted at around $26.50

2009Jun-Shaw Group Inc-800x600

2009Jun-Shaw Group Inc-800x600_Daily

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3PAR (PAR) : New 52 Week High

Jun 29, ’09 10:35 PM

Wonderful on 3PAR’s price today.

It broke through the consolidated trading range of 10.70 and 11.70 and reach as high as 12.80 today in the early trading hours.

http://stockcharts.com/h-sc/ui?s=PAR&p=D&b=5&g=0&id=p83358004014

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S&P 500 Review (Chart as of 25 June 2009)

Jun 26, ’09 5:00 PM

As posted on April 30, S&P has some space for a bullish run.

Previously I highlighted that it will face resistant from the kumo on the Weekly Chart.

Following is an update:

1. As expected, the kumo on the Weekly Chart is fairly on the spot. S&P touches it and start making an about turn. Moving forward, we still see major resistant for the S&P. The kumo suggest resistant level all the way till S&P at about 800.

2. On the Daily Chart, we have just seen the Tenkan sen crosses the Kijun sen. Volume has drop since May. A sign that the most buying-n-selling are done.  On the Daily Chart, we see some support at 893. However, there is a chance that the forward kumo is going to twist and show a bearish trend.

2009Jun-S&P 500-800x600

2009Jun-S&P 500-800x600_Daily

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