Each day we write a few articles covering stocks making key technical developments.
Research In Motion Limited ($BBRY) hit a new low for 2013 this morning. BBRY is at $9.21 (+.99%), and has traded in a range from $6.22 to $18.32 over the past 52 weeks. Volume was last at 9,918,710 with an average of 23,039,760 shares over the past 10 days.
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Research In Motion Limited BlackBerry Ltd is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
Molycorp (NYSE:MCP) is pulling back on slightly lighter than average volume today. Shares resolved the descending triangle last week, powering higher right trhough the 50 day moving average. Shares are now pulling back. Bullish technical traders will be looking for a higher low to form in the coming days to confirm the breakout.
Bearish traders will be looking for shares to fail to print a higher low. Should the recent high in Molycorp (NYSE:MCP) prove to be a lower high, bearish traders would view that as confirmation of the downtrend.
Shares are above the 50 day moving average with the 200 day overhead.
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Molycorp, Inc., is a rare earth company. The Company’s business is organized into four reportable segments: Resources; Chemicals and Oxides; Magnetic Materials and Alloys; and Rare Metals.
NetApp Inc. ($NTAP) hit a new 52 week high today. NTAP is at $40.31, and has traded in a range from $26.26 to $39.51 over the past 52 weeks. Volume was last at 7,080,870 with a 50 day average of 8,173,040, putting shares on track for well above their average volume.
Shares have been coiling in a wedge this year. That wedge was resolved today with shares gapping up and trading higher today.
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NetApp Inc. is above both the 50 day moving average and the 200 day moving average. These are bullish indicators respectively.
NetApp Inc. NetApp, Inc., is a provider of storage systems and data management solutions that form the foundation for efficient and flexible IT infrastructures.
Duke Energy Corp. (NYSE:DUK) is up $.73 per share (+1.04%) today. Duke Energy Corp. (NYSE:DUK) is continuing last weeks move breaking above the $68 resistance line, the 50 day moving average and an inverse head and shoulders pattern. Shares have since traded right along upper price envelope (band).
DUK was last at $70.88 on a volume of 1,202,620. Average daily volume has been 3,508,382 shares
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Duke Energy Corporation is an energy company. Its regulated utility operations serve 4 million customers located in five states in the Southeast and Midwest United States, representing a population of approximately 12 million people.
Zillow Inc. ($Z) is hitting a new 52 week high today. Over the past 52 weeks Z has traded from a low of $23.00 to a high of $63.76. Z was last at $64.10 on a volume of 419,924. Average daily volume has been at 735,234.
Shares have been in a strong uptrend this year are are just starting to test and break above the previous high.
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Zillow Inc provides vital information about homes, real estate listings & mortgages through its website & mobile applications, enabling homeowners, buyers, sellers etc to connect with real estate & mortgage professionals best suited to meet their needs.
H&R Block Inc. ($HRB) is hitting a new 52 week high today. Shares are breaking above the channel they have been trading in throughout the quarter of the year.
Over the past 52 weeks HRB has traded from a low of $15.53 to a high of $30.23. HRB was last at $30.75 on a volume of 3,884,480. Average daily volume has been 2,484,104 shares, putting H&R Block on track to trade double the normal daily volume today.
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H&R Block Inc. shares are currently above both the 50 day moving average and the 200 day moving average.
H&R Block Inc provides tax return preparation and related services and products to the general public in the U.S. and its territories, Canada, and Australia.
IntraLinks Holdings (NYSE:IL) shares are powering again today continuing their July rally. Shares quickly traded through and above their $9.00 median analyst price target this morning and are looking on pace to test the mean analyst price target of $10.00 per share.
IL was last at $9.25 on a volume of 648,077 shares, up just over 5% today. Average daily volume has been at 275,783, putting volume already 2.3 times the average daily volume here at the noon hour and on track to trade well above the average volume.
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IntraLinks Holdings, Inc is a provider of Software-as-a-Service (SaaS) solutions for securely managing content, exchanging critical business information and enabling inter-enterprise collaboration.
Microchip Technology Incorporated ($MCHP) is resolving it’s multi month wedge to the upside today. Microchip Technology Incorporated is up 1.95% at $38.76 on a volume of 475,394 shares today.
Shares are also hitting a new 52 week high today.
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Microchip Technology Incorporated is above the 50 day moving average and above the 200 day moving average. These are both bullish indicators respectively.
Microchip Technology Incorporated Microchip Technology Inc., develops and manufactures semiconductor products for a variety of embedded control applications.
McKesson Corp. ($MCK) is starting to break above the coil it’s been forming since May, after printing the 52 week high at that time. Shares look to be on pace to likely test the 52 week high of $119.32 in the near future.
Shares are at $116.76, up 0.67% on a volume of 410,178 shares here at the noon hour, average daily volume has been 1,300,120 shares. Over the past 52 weeks MCK has traded from a low of $84.65 to a high of $119.32.
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McKesson Corporation delivers pharmaceuticals, medical supplies and healthcare information technology that make healthcare safer while reducing costs.
Facebook Inc. ($FB) averages are at $24.21 (21 day SMA), $25.17 (50 day SMA), $25.60 (200 day SMA). Over the past 52 weeks FB has traded from a low of $17.55 to a high of $32.88. FB was last at $25.34 on a volume of 19,181,900. Average daily volume has been at 39,207,800.
Facebook (FB) has been punishing the bulls for quite a while, peaking in January and trending lower until bottoming in early June. Since then, the stock has been moving higher ion a bearish wedge pattern. Let’s look at the chart.
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Notice how the stock has finally regained the 50-day moving average. That’s important, but the real test of this nascent uptrend will be a pullback to $25. If such a pullback sparks aggressive buying and the stock holds above that level, then we’ll probably see a nice move into earnings. The company is due to announce earnings on July 24th, which gives the stock 2 weeks to make its move. If $25 does not hold as support, I would not be buying the dips. After all, lower highs and lows are not the things that uptrends are made of, right?
Facebook Inc., is a social networking website which builds products that creates utility for users, developers, and advertisers.
Teck Resources Ltd. ($TCK) is trading up on higher than normal volume today. Teck Resources Ltd. is up 3.83% at $20.84 on a volume of 2,773,440 shares. That’s already 1.10 times the normal daily volume of 2,876,383 shares, putting Teck on track to trade double the average daily volume.
Shares have traded down with other peers in the basic materials sector this year, returning a (45%) loss this year. Shares are trading below both the 50 and 200 day moving averages.
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Teck Resources Ltd. Teck Resources Ltd is a resource company. It mainly conducts exploration, development, and production of natural resources. Its main products are steelmaking coal, copper, zinc and lead.
Sealed Air Corp. (NYSE:SEE) was last at $25.90 on a volume of 706,539 shares. Shares have been in a strong uptrend since December returning 44.37% in 2013. Shares finished last week breaking above resistance on a break out to a new 52 week high. Shares are again printing a new 53 week high today.
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Sealed Air Corporation, through its subsidiaries is a innovator and manufacturer of a range of packaging and performance-based materials and equipment systems that serve an array of food, industrial, medical and consumer applications.
Apache Corporation ($APA) is crossing above the 200 day (EMA) moving average today. Shares found support at the 200 day simple moving average in the previous session.
Volume is slightly above average here at the noon hour. 2.2 million shares have traded today, the daily average is 3.5 million shares.
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Apache Corporation is currently above the 50 day moving average and above the 200 day moving averages.
Apache Corporation Apache Corporation is an independent energy company that explores, develops and produces natural gas, crude oil and natural gas liquids.It has interests in six countries, divided into seven operating regions.
MannKind Corporation ($MNKD) averages are at $7.06 (21 day SMA), $5.94 (50 day SMA), $3.47 (200 day SMA). Over the past 52 weeks MNKD has traded from a low of $1.82 to a high of $8.06. MNKD was last at $6.87 on a volume of 6,280,600. Average daily volume has been at 8,767,694.
One of the biotech companies that I follow is MannKind (MNKD), a small diabetes drug researcher currently developing Afrezza, a ultra rapid-acting insulin which, if approved by the FDA, will likely be a blockbuster drug and make the current price of $6.87 look extremely cheap.
Let’s look at the chart.
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The 50-day moving average has bee trending higher in at a pretty steep angle for the past few months. You can see a volatility breakout in mid-May that pushed the stock from $4.00 clear up to $8.00 before backing off. Looks like a blow-off top to me, right? However, the sudden pullback took 25% off the market cap in about a week…but that’s where the stock stabilized. So it is clearly under accumulation and volume is much higher than average.
I think MNKD is a buy on any pullback to $6,.00, and a breakout above $8.00 would likely result in a breakout as shorts scramble to cover. 30% of the float is held by short sellers. So there is a big bet that Afrezza will not be approved. But is that really where the smart money is? The stock was trading below $2.00 last October. Do you want to be on the side of the trend, or do you want to bet against the crowd?
I’m with my friend, the trend.
MannKind Corporation is engaged in the discovery, development, and commercialization of therapeutic products for diabetes and cancer in the United States.
US Steel (NYSE:X) shares are bouncing of the 20 day moving average, trading up through the 50 day moving average currently up 4.16% today.
United States Steel Corp. ($X) averages are at $17.48 (21 day SMA), $17.80 (50 day SMA), $20.45 (200 day SMA). Over the past 52 weeks X has traded from a low of $15.80 to a high of $26.29. X was last at $18.14 on a volume of 3,750,830. Average daily volume has been at 7,729,891.
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United States Steel Corporation is an integrated steel producer of flat-rolled and tubular products with major production operations in North America and Europe.
