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I recently received a request to determine a  potential price target for Aeropostale (ARO), which closed near its all time high on Friday.  Given that there are no obvious resistance levels for stocks at its all time highs, we shall use the Fibonacci Extension model to determine a price target for ARO. Stock technical analysis of the ARO chart below show that the low (A), high (B), and suppor...

I recently received a request to look at how much momentum is left in the AIG rally, so here's my take on the subject! From the stock technical analysis below, AIG prices are facing a band of resistance between $56.80 and $60 formed by the highs of Nov 10 and Oct 13.  With a closing price of $50.23 on Friday, it seems that AIG stocks will likely face headwinds fairly soon in overcoming this re...

Stocks of Citigroup (C) have been moving up silently behind the headlines for much of August, amidst news of how more and more banks are being shut across the nation.  The number of bank failures this year now stands at 84 amid the poor economy and rising loan defaults. So how safe, really, is Citigroup? From a fundamentals perspective, it is interesting to note that Citigroup has been list...

Newport Corp (NEWP) is one stock that should be on the intermediate term trader’s watch list. The company designs, develops, and manufactures technology lasers, components, instruments, subsystems, and systems. After a strong surge in mid-July from $6.50 to $7.50, the stock has been consolidating in a bullish ascending triangle pattern with overhead resistance at $7.90-$8.00. The daily chart bel...

Aeropostale, Inc., (ARO) is a mall-based specialty retailer of casual apparel and accessories. After reporting solid earnings last week, ARO stocks rocketed above its $38 resistance last Friday, with volume at about 3 times above its 3-month average daily volume. Prior to this break of resistance, the stock has been consolidating for over 3 months. The break above the $38 resistance appears genuin...

Stocks of Medco Health Solutions (MHS) closed at its all-time high of $56.17 yesterday and continued to move higher in early trade today.  Technical analysis of the stock price showed that it broke out of its channel in late Jul 2009.  Subsequently, the former Channel-Line then acted as a good support level when the price corrected in early Aug.  The stock price has been moving higher ever sinc...

If you have been following my stock technical analysis blog recently, you would have made quite a bit of money on AIG after I made a call to buy the stock.  However, I also mentioned that this trade ought to be a short term trade because of short-term resistance at $30.  Also, the fundamentals of the stock do not look good. Interestingly enough, the stock price on Thursday shot past the $30 r...

Today was an exciting trading day.  The S&P 500 broke through its Fibonacci 38% retracement level  at 1014, closing at 1026 - its Year 2009 high - with above average volume.  I highlighted this resistance level in my previous market trends blog post.  With this major resistance cleared, the next level to take note is 1121, which is the 50% retracement level, representing a 9% upside from i...

It is tricky business to be buying in the middle of a market correction, but some stocks are showing strength and are worth picking for short-term trades.  One such example is American International Group (AIG). AIG surged 8.5% today at volume that was 68% above its 3-month daily average volume.  Its 50-day exponential moving average has served both as a good support and resistance to the sto...

The US stock market was in for a bloodbath today as Lowe’s missed analyst expectations for its quarterly profit, sending fears that consumers may remain tight-fisted in their spending habits.  But those who have been following my market trends blog would also know that the present correction  is due to the S&P 500 touching major resistance at its Fibonacci 38% retracement level.  So hang ...