Markets continued to flatline on Tues, Aug 28, although the charts of several securities were quite interesting.
Altera Corp (ALTR), perhaps the quintessential NASDAQ-100 company (it makes semiconductors, is based in Silicon Valley, and has its headquarters on "Innovation Drive"), has penetrated price-channel resistance on both the daily-candles and hourly-candles charts. From the daily-candles chart, price action above $37.5 would be bullish, that price being approximately the August high.
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| ALTR. Jan 2011 to present. Daily candles. |
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| ALTR. Dec 12, 2011 to present. Hourly candles. |
Ctrip.com International (CTRP) continues to look bullish despite
last week's 20 percent rally. From the 5-minute candles chart, price action is consolidating near the top of its recent range and appears to be forming a
bull pennant pattern. Switching focus to the hourly candles perspective, price is continuing to consolidate beneath a six-month trendline.
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| CTRP. Aug 2 to present. 5-minute candles. |
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| CTRP. Mar 1, 2012 to present. Hourly candles. |
The daily candles chart of Electronic Arts (EA) is showing an almost-completed
throwback to a recently-penetrated, nine-month price channel. This blog very recently covered another instance of a throwback,
occurring in shares of Dentsply (XRAY).
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| EA. Mar 2010 to present. Daily candles. |
Kraft Foods Inc (KFT) has quite the spectacular four-year, daily-candles chart; nearly all price action since May 2009 is contained in a single, well-fitting price channel. Notably, price behavior during the past two sessions is hugging the channel's resistance end.
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| KFT. Aug 2008 to present. Daily candles. |
Xilinx Inc (XLNX), a NASDAQ-100 component in the specialized
semiconductors industry, is testing the resistance of a nine-month price
channel. A break above approximately $34.16 would be bullish.
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| XLNX. Dec 12, 2011 to present. Hourly candles. |
