Classic break-out

Red Hat reports, the stock makes a sweet break-out and has held up rather nicely today. One to ride with this mini-tech boom we are experiencing of late. Keep an eye out if the broad market starts to falter.

Junior is Feeling Low

This is a chart for Victoria Gold (VIT) a gold explorer/developer listed on the Toronto venture exchange. Who said the risk trade is on again.... it certainly isn't for many venture exchange stocks. Many venture companies are trading at lows not seen since the spring of 2009. VIT needs to hold at this $0.31 resistance level  (the blue line way at the bottom) otherwise we are looking at a trade down to fall 2008 levels of under $0.21. Perhaps this is another early warning that the larger markets are not as strong as many think.

Moving Up with Less

One of the primary rules of charting is that the trend should be confirmed by volume. Looking at broad US market (SPY) one can see that volume is declining in this rising market, the trend is not confirmed by the volume. A rising trend with rising volume is a stronger indicator of a rising market. Low volume may indicate lower confidence in this bull run, be wary of breaks below the trend line, especially if that break down is on higher volume....

Intel, nice looking up close... but far away?

The daily Intel (INTC) chart looks pretty sweet, higher highs and higher lows, a nice trend. Considering all the attention being paid to "mobile" chip producers this traditional chip producer continues to be robust. A good looking chart close-up, but...

The longer term chart look is bumping up against resistance levels established in 2005 and 2007. Watch for a break-out, positive, but a break down would indicate that the $28 will offer significant resistance. Not so great from a distance....

Lions Gate

On the March 21st Lions Gate (LGF) reached up past the $15 dollar level. This recent run-up was due to the excitement surrounding the release of the highly anticipated movie the Hunger Games. Well, the movie is out and the selling has started. Looks like and opportunity for a short-term short, sell on the news, in this case the release of the movie. Technically it looks like a Doji star has been put in place, the run could move down to the $13.50 level of short-term resistance, if that is broken.....back to $8.50 is possible. The book was entertaining and an easy read, I recommend it.

GLD

The weekly gold chart does indicate that the uptrend in gold is done for now. The trend was broken on a gap down in December and failed to push back to the trend this past month. The first half of the year tends to be better for stocks and hence not strong for gold. Look for gold to trend down over the coming months, a new round of economic problems later this year would bring it back front and centre. Is the sell in May trade set to return for stocks?