In Retrospect : MBT, KPP, ALI, FGEN

MBT
Went beyond resistance level but was unable to sustain the move above it. Last Friday’s trading day saw another effort by the bulls to push the price above resistance level. This coming week would be a wait and see if the bears still have some more strength to pull the price down. Price may move side to downward before pushing above resistance. Recommendation: Hold

KPP
The last 2 trading days was accompanied by very high volume and price went up to as high as 0.59, very much breaking the resistance. Next resistance would be 0.59-0.6. Recommendation: Hold.

ALI
Instead of providing a strong support at 15.75, it became a resistance as price went down and tried to go beyond 15.75. Though there were many sellers that sold down and cashed in at 15.25-15.75 levels , the buyers still had the upper hand as closing price was kept near opening price. Last Friday’s trading saw the resurgence of volume. Hopefully this will be the continuation of the upward move.
Recommendation: Hold

FGEN
The price did move down near support level. Price is now poised for an upward move. This is a good opportunity to capture a P3 move for the short term.Recommendation: Buy at 53-53.50 Sell at 56-56.50

StockWatch (Jan 8 – 12, 2007) MBT, KPP, ALI, FGEN

MBT (Chart: Daily Resistance: 53 Support: 49)

MBT is forming an ascending triangle with resistance at 53. If resistance is broken with volume, price can go up to 61. Recommendation: Buy near the support level, sell if it goes below support with volume.

KPP (Chart: Daily Resistance: 0.54 Support: 0.45)

KPP does not have any area pattern forming, but the unusual volume that accompanied last Friday’s trading and the MACD has brought a positive side to this stock. If the succeeding trading days will be accompanied by substantial volume of 6M and above, there will be a higher probability that this may try to reach the previous high of 0.68 Recommendation: Buy

ALI (Chart: Daily Resistance: 16/16.50/17 Support: 15.50)

Last Friday’s trading saw ALI’s volume sky rocket to 118M. This makes the 15.75-16 level a strong level of support. It also broke the ascending triangle that formed from October –December. Price may go as high as 17.50. But a couple of resistance will be encountered at 16.50 and 17 as these are previous highs. Recommendation: Buy.


FGEN (Chart: Daily Resistance: 56.50 Support: 54)

FGEN is forming an ascending triangle. A possibility of P5 move upwards. But at this point it is still to early. Price may still go near support level. Recommendation: Buy near support