THQI getting ready to go

Discussion in 'Stocks' started by miguel007, Oct 10, 2010.

  1. The stock has the look of an upcoming breakout, which could next week. If you look at its technical chart, you will see a tight consolidation that has occurred this past two weeks. The stock attempted to push higher on Friday, topped at $4.20 but closed at $4.13 on over 1.28 million shares. On daily chart above we can see price is moving in a range area of $4.23 – 3.86. We need a break on either side to see clearer direction. I prefer a bullish scenario and expect break above $4.23 targeting $4.84 before testing $5.04 in medium term view. In the past one month of trading sessions, the stock went up more than 20%. Over the past 52-weeks, the stock traded within the range of $3.33-$8.29. From a technical standpoint, %K line and %D line continued upward movement and have not signed short-term reversal. MACD still moving up and is above the zero line. In addition, the momentum indicator MFI still showing strong demand in this upward trend.

    Chart :