In Retrospect: EEI, TEL

EEI

EEI continued to move sideways for the past week. However there seems to be a small light of hope last Friday with the stock gaining around 3% and volume of around 4.8M shares traded. If the stock is able to gap up with more than 4M shares traded, this is a sign of strength for the stock and a formation of an island reversal.

TEL

TEL was able to significantly create another gap up on the second day of trading last week and as expected, resistance at 2900-3000 level was encountered. There will probably be profit taking for the coming week. If the support at 2905 holds for next week, then the stock might be good for another climb probably towards 3200 level.