Market Blog Technical Analysis

J C Penney Company looks Poised for a Bounce

The JC Penney stock (JCP) ended Friday's session  with a bullish hammer candlestick accompanied by a nice pickup in volume, which could mean a reversal indication. I think we have reached the bottom in short-term. Price hit a high of $3.62, which is resistance for Monday’s continuation move. I will add few more shares once it breaks through this high and expect to see heavy volume push the stock higher. Despite weak signal from
Market Blog Technical Analysis

BIDU is heading higher to test a firm resistance at 194: Antonio

I have Baidu Inc (NASDAQ:BIDU) on my watchlist for next week. The stock rose $1.81 or 0.97%, on Friday, finishing the session at the highest close since May. This move puts it in high probability of a breakout above key resistance in the 193.74 area. Daily technical indicators are looking bullish. The daily MACD is above its signal line in positive zone, while RSI has just crossed above its 70% level
Market Blog Technical Analysis

Watch Amazon (NASDAQ: AMZN) For Short-term Bullishness: Antonio Costa

Amazon (NASDAQ:AMZN) pulled back last week after recorded a new all time high of 954.40. The stock has been trading in a nice upward trajectory since early January and at this point the up trend is still intact. The daily RSI indicator has reached overbought territory in the last sessions, suggesting that after such a strong run the price is due to take a breather again, as happened in early