Netflix (NFLX) : Kumo resistance

Having break kumo support couple of days back on July 28, NFLX is now making an attempt to turn the trend around.

Part of this rally is made by calls from Morgan Stanley and Piper Jaffray that NFLX will hit a target price of $140.

On my part, I will admit that I do not know what are the fundamentals of NFLX.

My reading of the Ichimoku chart for NFLX is still bearish.


BP PLC (BP) : 5 Times Resistance

Saw on the newspaper that BP strike oil.

I was curious and noticed that its share prices did not seem to react much to such news.

Apart from the March rally, we can actually see that the price since July is a little bit choppy. There’s a few gaps in between and then i reverse and drop. Seems to me that it is running out of breadth.

On the Ichimoku Chart, we have just seen a Bullish cross with volume picking up in the last 2 days. However, the price action is not convincing.  It does not surge as high and did not break through the high this year.

I believe BP will continue to trade within a range of 45 – 52.

2009Sep-BP PLC-800x600


PALM Pre to Launch in Europe with O2 and Moviestar

Just got this in my email (Palm’s newsletter)

Palm webOS Phone to Arrive in UK, Ireland, Germany and Spain on Local Telefónica Networks.

WINDSOR, England, Jul 07, 2009 (BUSINESS WIRE) — Palm, Inc. (Nasdaq:PALM) today announced that the Palm(R) Pre(TM) phone is scheduled to be available initially in the UK, Ireland and Germany exclusively on the O2 network, and in Spain exclusively on the Movistar network, in time for the holidays. Palm Pre, the first phone based on the new Palm webOS(TM) mobile platform, brings your information from the many places it resides – on your phone, at work or on the web – into one simple, integrated view.(1)

“Europe continues to be an important region for Palm, and we’re proud to work with O2 and Movistar to spread the excitement Palm Pre has already ignited in North America,” said Jon Rubinstein, Palm chairman and chief executive officer. “Since we showed Palm Pre at Mobile World Congress in February, there’s been a great deal of anticipation for an announcement about European availability, and that day is here.”



Let’s see if we will see a new high again.