Stock Chart Follow Up – NEP, CLWR, CSUN, BAC
Maybe it is just me, but it seems like stocks have really been making their moves over the last month or so; nonetheless, how can anybody complain when they are making money?
China North East Petroleum (NEP)
There is no denying the great run this stock has had since first mentioned here. In fact, we have just crossed the original price target I had on this stock. While the move may not be over, this may be a good time to take some profits off that table.
From the chart below, we can see the clear resistance that is stands in front of this stock. Although it did pass it at one point in the day, the key is that it has not yet closed above the line (sitting right below at closing).
If we pass this line, then look to possibly re-enter or just hold on to the remaining shares you have invested in this company. On the other hand, if this stock bounces down, the look for a mild pullback to the $5.75is level before continuing to head higher.
Clearwire (CLWR)
Another beast we call Clearwire has also made some nice moves since first recommended on this site. While we are still not close to the 700% target I predicted, the stock has still developed nicely.
If we can manage to create the ascending pattern, meaning to get a bounce up from the 50% retracement line and burst through the 62% then are price targets just got even that much further.
China Sunergy (CSUN)
While we first looked at this solar stock has a cup and handle play, it looks like the handle is not being able to break the resistance. Already rejected 3 times, the odds are not looking good. Keep watching.
The lower the stock comes the worse this trade gets as it stands right now.
Bank of America (BAC)
Since Bank of America is really a long-term play for me, we need to zoom out a little more. It looks like we may have hit a long-term resistance and retreating into pullback mode here.
Continue to watch or track this stock and see if we can finally crack that line.
Have no idea what I am talking about? Learn how to finally use technical analysis to accurately predict stock price movement and limit overall risk, or check out a free trend analysis of these stocks.