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.
Monthly Archives: January 2005
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.
INDU
The short-term moving averages have become the overhead resistences. Both SMA 20 and 50 are pointing downwards currently, a bearish tune in spite of runup in the past two days. The longer-term SMA 200 is the support area and it’s pointing side way.
Update on LFC, HNP and PMCGX
