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Spectacular action from Marvell Technology Group Ltd. (NASDAQ:MRVL) shares, after the earnings report was released. The technical chart gives a clearer picture. Big bullish candle on very good volumes indicating buying. The last two weeks fall has formed a bullish flag and today’s candle has given a breakout from this flag. This is very bullish and the stock is expected to resume the uptrend. A cross of $21 level is desired to get confirmation.
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Canadian Solar Inc. (NASDAQ:CSIQ) was a big winner on Friday as the stock ended up $1.02 on the day. The stock traded higher after Macquarie USA analyst Kelly Dougherty upgraded the stock with Ourperform rating and raised the price target from $20 to $22. I will be watching the stock on Monday for a continuation move through Friday’s highs of $14.64. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above its 200-day moving average on heavy volume. Bulls could remain invested with a stop loss at $13.05. Keep CSIQ on your radar for Monday.
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NetApp Inc. (NASDAQ:NTAP) is still in decent shape holding over the 50sma.
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Take a look at the Eastman Kodak Company (NYSE:EK) chart, it’s showing a symmetrical triangle pattern with support at $4.66. I am expecting a breakout at 4.81 with the first target of $5.11 Hopefully, the support holds and we might be able to see the breakout.
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Crocs, Inc. (NASDAQ:CROX) broke resistance today, but on low volume. I feel there is a bigger move coming, which is why I will be watching the stock again on Monday.
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