INDU suffered 173 point loss today. SPX lost more than 17 and NDX lost more than 21. All major markets moved downward.
INDU has been performing better than NASDAQ this year.
Category Archives: Stocks
LU and HNP
LU bounced back from low of 3.12. It has broken the resistence at SMA 20, which it had done last month but failed to folllow through. The next resistence is the downtrend line overhead, roughly at 3.5.
Since HNP broke down from the triangle and formed a double bottom, it has rallied back the breaking point 30. There is one point of room for it to go higher before reaching the downtrend line formed since last Sep. It does not hurt to take some money off the table now.
HNP
HNP is in similar condition as SUNW. It needs to break out SMA 20 now to change its current downtrend. However, in the past two months, it has not done so. It backed down from the SMA 20.
HNP
HNP is in similar condition as SUNW. It needs to break out SMA 20 now to change its current downtrend. However, in the past two months, it has not done so. It backed down from the SMA 20.
Beaten up SUNW
After suffering a 27% drop in less than a month, SUNW has shown some life above 4. The support at 4 is firming up provided that there is no further major news coming out of SUNW. The next resistence is around 4.5. You may wait for a while before initiating a new position or scale in in increments. The stop loss can be set at 4.0.