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MOT – The price movement this week was marked by a high degree of volatility. The stock price action was devoid of any significant momentum during the week. The near-term outlook would depend on the price movement in the next few days. A close above $8.61 would impart bullishness and would help the stock move to the $9-$9.30 band. A drop below $8.01 would have negative implications that would push the stock down to the $7.80-$7.71 range. Some indicators are improving but it needs to breakout above the $8.61 resistance to confirm the change in trend. However, despite some negative divergences on STO, I’m keeping my bullish outlook and expect to see higher prices in coming weeks. The new Motorola Droid is pretty hot today. It’s an iPhone killer!
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AOB shows signs of strong buying pressure with a triangle breakout. This is the second surge on big volume. As a low priced stock, risk is above average and traders might put this one on the radar to buy on a dip.
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OCNF has a double bottom working from Oct to Dec. Upside volume looks good and a break above $1.05 would be bullish. The downward price movement is not accompanied by volume, which suggests that people are still holding the stock. Currently price is now at $1.01 level and based on KD indicator we might see an upward move for this stock again.
( click to enlarge )CTIC declined to a support zone and upside volume is starting to pick up, watch resistance at $1.1485. Fresh exposures may be considered on close above this level, with a stop-loss at $1.05.
