StockWatch (Dec 18-22) JFC, FLI, AT, APX/APXB

JFC ( Chart: Daily Resistance: 41/42.50 Support: 39)

JFC was initially forming an ascending triangle last November, but this was invalidated when the price gapped down. But the price later bounced with good volume. Considering that the bounce was accompanied by good volume, lots of traders are holding this stock at 39.50-41.50 level, which now provides a good level of support. The downward move during the last 3 days of trading were not significant compared to the volume on the upward move from the 39.50 level. For the coming week, there is a big possibility that price would move sideward or down (to 39.50) for a short time and then would push up to resistance level of 41-42.50. Recommendation: Range Trade. Buy if incase the price moves down near the support level (39-40) and volume is not substantial (below 600T trades). Sell if incase support level at 39 is breached with substantial volume (1M trades) or if resistance level of 42 is reached without substantial volume.



FLI ( Chart: Daily Resistance: 1.90 Support: 1.82/ 1.74)

FLIis has reached 1.90 level, the previous high last May bull run. It re-tested the previous high but was unable to break the resistance. For the coming week, FLI may move sidewards to down before trying to re-test the resistance at 1.90. If resistance is broken, there is a possibility that price may reach beyond 2.0 level. Recommendation: Wait, price may still go down below the support at 1.82. Any move below 1.82 support with less volume is a buy. Sell at 1.90 if move upward is not supported with volume. If move upward is supported with good volume, hold till it reaches 2.0 or beyond, then sell.


AT ( Chart: Daily Resistance: 9.80/10 Support: 8.80)

Watch out for AT, probably forming a flag/pennant. Recommendation: Wait for the pullback probably near 9.50 level. Pullback should have diminishing volume.


APX ( Chart:Daily Resistance: 6.20 Support: 6.0)

APX and APXB is poised for a bounce from the support. Recommendation: Buy at 6-6.50 level. Observe the volume, APX exhibited unusual volume last Friday, but the same did not happen for APXB, but nonetheless, do observe if the bounce is accompanied by good volume (greater than 4M trades)