Each day we write a few articles covering stocks making key technical developments.

Goldcorp’s falling wedge is resolving (NYSE:GG)

by Josh Articles

Goldcorp Inc. ($GG) is continuing it’s move to the upside on heavy volume today. GG was last at $23.35 on a volume of 5,846,260 shares putting the gold producer on track to trade at about double the daily volume average today.

Shares have been in a downtrend throughout 2013 and started off 2014 by resolving a a falling wedge pattern. Technical traders view a falling wedge as a bullish reversal pattern when it’s found in a down trending chart. Technicians will look for a retest of the key 200 day moving average which is currently 12% above the current share price at $26.17. The expectation would be for the downtrend to continue at that point, making the $26 price level a key inflection point to watch for shares in the near term.

52 Week Range $20.54-$38.61
Market Cap 18,972,692,699
Average Volume 7,770,785
Dividend Yield 2.68%
Institutional Ownership 62.50%
Insider Ownership: 0.00%
Percentage of Float Short 0.70%
Beta 0.53

Goldcorp, Inc., is a gold producer. The Company operates, explores, develops, and acquires precious metal properties in Canada, the United States, Mexico, and Central and South America.

International Game Technology: Testing Resistance (NYSE:IGT)

by Josh Articles

International Game Technology ($IGT) shares are testing the 200 day moving average today. Shares were last at $17.86 on a volume of 1,603,750 shares traded. The 200 day moving average is currently at $17.82 with the 50 day average sitting at $17.78 per share.

Shares have been printing lower highs and lowers since September. A breakout from current levels would signal and end to the current downtrend to technical traders.

52 Week Range $13.58-$21.20
Market Cap 4,452,821,000
Average Volume 4,869,671
Dividend Yield 2.49%
Institutional Ownership 96.40%
Insider Ownership: 1.50%
Percentage of Float Short 7.00%
Beta 1.55

International Game Technology International Game Technology is a gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms.

A Key Bounce for Celgene (CELG)

by DAN Articles

Celgene Corporation ($CELG) averages are at $162.88 (21 day SMA), $157.18 (50 day SMA), $136.29 (200 day SMA). Over the past 52 weeks CELG has traded from a low of $77.22 to a high of $173.80. CELG was last at $162.19 on a volume of 2,702,090. Average daily volume has been at 2,860,929.

52 Week Range $77.22-$173.80
Market Cap 66,953,055,447
Average Volume 2,860,929
Dividend Yield 0.00%
Institutional Ownership 85.90%
Insider Ownership: 0.60%
Percentage of Float Short 1.30%
Beta 0.90

Celgene (CELG) has been trending higher during the entire year, more than doubling in value. The stock has been a bit volatile over the past couple of months…but the uptrend remains intact. On Wednesday, the stock closed higher for the first time in six days. That’s bullish. But the real news isn’t in the higher close…it’s in the decisive bounce off the 50-day moving average. This intraday reversal off a key moving average is a confirmation of the uptrend. Technical traders can use this higher low as an opportunity to add to positions…or to initiate positions.

Near-term resistance is up around $173 — $10 higher than current levels.

Celgene Corporation is a biopharmaceutical company engaged in the discovery, development and commercialization of innovative therapies designed to treat cancer and immune-inflammatory related diseases.

Apple testing support at the 21 day moving average

by Josh Articles

Apple Inc ($AAPL) is testing support today on heavier than average volume. Apple was last at $548.01 on a volume of 16,584,200 shares, well above the average daily volume of 11 million shares. The 21 day moving average has served as support since July, excluding September’s island reversal.

52 Week Range $385.10-$575.14
Market Cap 492,579,562,860
Average Volume 11,202,116
Dividend Yield 2.20%
Institutional Ownership 62.90%
Insider Ownership: 0.70%
Percentage of Float Short 1.90%
Beta 0.84

Apple Inc designs, manufactures, and markets personal computers, mobile communication devices, media devices personal computers, and portable digital music players, and sells various related software, services, peripherals and networking solutions.

Peabody Energy (BTU) — A Clean Stock in a Dirty Neighborhood

by DAN Articles

Peabody Energy Corp. ($BTU) averages are at $19.31 (21 day SMA), $18.68 (50 day SMA), $18.56 (200 day SMA). Over the past 52 weeks BTU has traded from a low of $14.34 to a high of $28.75. BTU was last at $18.87 on a volume of 3,715,590. Average daily volume has been at 6,194,760.

52 Week Range $14.34-$28.75
Market Cap 5,089,015,923
Average Volume 6,194,760
Dividend Yield 1.86%
Institutional Ownership 88.20%
Insider Ownership: 0.40%
Percentage of Float Short 7.20%
Beta 1.34

Peabody Energy (BTU) has been trading higher in a series of higher highs and lows since establishing a bottom last July. Now, the entire coal industry has been given up for dead by most traders because of federal regulations and a move toward “clean energy.” But while the sentiment has been poor, the Dow Jones U.S. Coal Index ($DJUSCL) is up more than 35% since the July bottom. Peabody Energy is up just around 30%.

These are impressive moves in a sector that nobody seems to like.

Looking at the daily chart of Peabody Energy (BTU), you can see that the stock is back down to an up trending support line – right around $18. At the same time, the stochastics oscillator (which is an indicator of momentum and/or “overbought” vs. “oversold”) is flashing a buy signal.

Also, those who monitor moving averages will note that the 50-day moving average is crossing from below to above the 200-day moving average. This type of crossover is widely viewed as confirming a new uptrend.

There are a lot of reasons to like Peabody Energy right here. And buying the stock now, with a stop just below $18 sets up a high probability trade with a defined risk.

Peabody Energy Corporation is involved in mining. It mines, prepares, and sells thermal coal to electric utilities and metallurgical coal to industrial customers.

Transports leading the morning price action (NYSE:NAT)

by Josh Articles

Transport and logistics stocks are the leading industry in the morning trade today, up an average of 1.06% with half of the transport stocks up at least .42%.

Nordic American Tanker ($NAT) is continuing it’s multi month coil pattern this morning, nearing resistance. Nordic American Tanker is at $8.36 on a volume of 220,994 shares here half an hour after the open. Shares have been coiling since July and most recently tested the bottom of the coil (support) last week.

Over the past 52 weeks NAT has traded from a low of $7.00 to a high of $12.00. Key moving averages have all flattened out, with shares trading right atop the 200, 50, and 20 day simple moving averages.

52 Week Range $7.00-$12.00
Market Cap 631,871,316
Average Volume 1,052,172
Dividend Yield 7.65%
Institutional Ownership 34.90%
Insider Ownership: 0.00%
Percentage of Float Short 15.00%
Beta 1.20

Nordic American Tankers Ltd formerly Nordic American Tanker Shipping Limited is an international tanker company that owns approximately 20 modern double-hull Suezmax tankers, including four newbuilding vessels, averaging approximately 157,000 dwt each.

A look at Yahoo! Inc. — Bullish Price Action

by DAN Articles

Yahoo! Inc. ($YHOO) averages are at $35.09 (21 day SMA), $34.03 (50 day SMA), $27.86 (200 day SMA). Over the past 52 weeks YHOO has traded from a low of $18.60 to a high of $37.35. YHOO was last at $37.52 on a volume of 14,892,400. Average daily volume has been at 21,042,725.

52 Week Range $18.60-$37.35
Market Cap 38,609,674,623
Average Volume 21,042,725
Dividend Yield 0.00%
Institutional Ownership 73.20%
Insider Ownership: 1.30%
Percentage of Float Short 2.60%
Beta 0.66

Yahoo! (YHOO) has been trending higher for more than a year, breaking out from $16 last October to the current price of $38. Notice how each pullback or sideways drift that hit the 50-day moving average resulted in buying interest that pushed the stock higher. This trend is continuing and today’s 4.32% advance occurred on heavy volume.

Still, traders who study charts will see that the stock is high above the 50-day moving average to an extent that has led to pullbacks or consolidations in the trend. A prudent trader would watch this stock and wait for the stock to move closer to the 50-day moving average before taking some stock. Pullbacks are still buying opportunities.

Carpe diem.

Yahoo, Inc. is a global Internet brand and digital media company. It is engaged in creating content, communications, and community platform that delivers consumer experiences and advertising solutions.

A look at Intuitive Surgical Inc. (ISRG)

by DAN Articles

Intuitive Surgical Inc. ($ISRG) averages are at $386.08 (21 day SMA), $380.84 (50 day SMA), $441.69 (200 day SMA). Over the past 52 weeks ISRG has traded from a low of $357.02 to a high of $585.67. ISRG was last at $367.79 on a volume of 499,260. Average daily volume has been at 470,341.

52 Week Range $357.02-$585.67
Market Cap 14,105,063,652
Average Volume 470,341
Dividend Yield 0.00%
Institutional Ownership 98.10%
Insider Ownership: 1.00%
Percentage of Float Short 5.30%
Beta 1.37

Intuitive Surgical (ISRG) has been forming a base along $360 for the past 5 months. The stock is now testing support and might be tempting to buy right now. However, the trend remains downward and there is no foreseeable catalyst for higher prices. Those who are long the stock should be watching $360 very closely. A break below that level is likely to start the next leg downward. And that leg could extend as far as $325 before hitting the next level of support.

Intuitive Surgical, Inc., designs, manufactures and markets da Vinci Surgical Systems, EndoWrist instruments, and surgical accessories.

A look at Himax Technologies Inc. — two potential buy points.

by DAN Articles

Himax Technologies Inc. ($HIMX) averages are at $9.47 (21 day SMA), $9.93 (50 day SMA), $6.88 (200 day SMA). Over the past 52 weeks HIMX has traded from a low of $2.25 to a high of $11.49. HIMX was last at $10.91 on a volume of 9,793,600. Average daily volume has been at 7,458,524.

52 Week Range $2.25-$11.49
Market Cap 1,871,508,681
Average Volume 7,458,524
Dividend Yield 2.33%
Institutional Ownership 27.00%
Insider Ownership: 0.00%
Percentage of Float Short 6.30%
Beta 1.70

Himax Technologies (HIMX) is a specialized semiconductor company, focusing on flat panel displays. This stock has been in an uptrending channel for more than a year. This stock is finishing a multi-month consolidation between $9-$11.50. A breakout from this range would be a solid buy signal for technical traders focused on momentum. And a pullback to around $9 would be a good entry for dip buyers.

Himax Technologies, Inc., designs, develops and markets semiconductors that are critical components of flat panel displays. Its main products are display drivers for large-sized TFT-LCD panels.

Time to Friend Facebook (FB)?

by DAN Articles

Facebook Inc. ($FB) averages are at $47.22 (21 day SMA), $49.06 (50 day SMA), $34.76 (200 day SMA). Over the past 52 weeks FB has traded from a low of $22.67 to a high of $54.83. FB was last at $48.40 on a volume of 45,287,900. Average daily volume has been at 79,490,015.

52 Week Range $22.67-$54.83
Market Cap 119,427,388,525
Average Volume 79,490,015
Dividend Yield 0.00%
Institutional Ownership 46.90%
Insider Ownership: 0.00%
Percentage of Float Short 1.80%
Beta 1.65

Back in late-October, Facebook (FB) peaked at around $55 before pulling back below the 50-day moving average. The recent low of $43.55 appears to have established a short-term trading bottom. While the stock is still below the 50-day moving average, the downward momentum has ended and stochastics are actually moving up.

I i’s likely that the stock will take a while to climb through resistance, but those with a longer time horizon might want to consider buying at current levels.

Facebook Inc., is a social networking website which builds products that creates utility for users, developers, and advertisers.

A look at Tesla Motors Inc. (TSLA) — This electric car maker is on fire.

by DAN Articles

Tesla Motors Inc. ($TSLA) averages are at $136.63 (21 day SMA), $160.17 (50 day SMA), $111.16 (200 day SMA). Over the past 52 weeks TSLA has traded from a low of $32.11 to a high of $194.50. TSLA was last at $141.50 on a volume of 20,704,800. Average daily volume has been at 12,370,054.

52 Week Range $32.11-$194.50
Market Cap 17,738,103,183
Average Volume 12,370,054
Dividend Yield 0.00%
Institutional Ownership 55.20%
Insider Ownership: 0.40%
Percentage of Float Short 20.90%
Beta 0.32

Tesla Motors (TSLA) has been correcting for the past two months after peaking at around $200. Since that time, the stock has fallen to below $120 before finding a bottom. The news flow has been negative, with a few reports of vehicle fires. But traders appear to be shaking off those reports and are now buying the stock on massive volume.

Today’s trading volume exceeded 25 million shares (more than twice the average daily volume) and the stock advanced more than 16% today. Such a high-volume, high-magnitude move is the sign of institutional buying.

At $144.76, TSLA is about $15 below the 50-day moving average, which would be likely resistance. The strong upside momentum makes it quite likely that TSLA will be testing that level sooner rather than later.

Tesla Motors,Inc., designs, develops, manufactures and sells high-performance fully electric vehicles and advanced electric vehicle powertrain components.

A look at SunEdison (SUNE) — Is the sun shining on this solar stock?

by DAN Articles

SunEdison ($SUNE) averages are at $12.24 (21 day SMA), $10.30 (50 day SMA), $7.68 (200 day SMA). Over the past 52 weeks SUNE has traded from a low of $2.90 to a high of $13.54. SUNE was last at $13.25 on a volume of 4,505,360. Average daily volume has been at 7,825,227.

52 Week Range $2.90-$13.54
Market Cap 3,527,171,198
Average Volume 7,825,227
Dividend Yield 0.00%
Institutional Ownership 99.30%
Insider Ownership: 0.80%
Percentage of Float Short 9.00%
Beta 1.73

SunEdison (SUNE) has been trading in a sideways range for the past month, oscillating between $12.00-$13.54. This recent consolidation is occurring in a bullish environment for semiconductor stocks. A breakout above $13.54 would be a key buy-signal, particularly if such a breakout occurs on more than 8 million shares.

A prudent stop loss level on this stock would be slightly below $12.00.

SunEdison Inc is a semiconductor and solar technology company. It provides technology solutions to corporations, utilities, governments and chip manufacturers to transform lives around the world.

A look at Cliffs Natural Resources (CLF)

by DAN Articles

Cliffs Natural Resources ($CLF) averages are at $26.65 (21 day SMA), $24.13 (50 day SMA), $21.19 (200 day SMA). Over the past 52 weeks CLF has traded from a low of $15.41 to a high of $40.40. CLF was last at $25.00 on a volume of 5,904,180. Average daily volume has been at 7,526,187.

52 Week Range $15.41-$40.40
Market Cap 3,832,696,248
Average Volume 7,526,187
Dividend Yield 2.45%
Institutional Ownership 82.60%
Insider Ownership: 0.90%
Percentage of Float Short 29.20%
Beta 2.28

Cliff Natural Resources (CLF) has been trading in a series of higher lows and highs since hitting a low in early July. Since then, the stock nearly doubled in price before peaking in early November and pulling back on profit-taking. Now, the stock is back to test the 50-day moving average, currently at $24.30. Further, the stochastics oscillator shows a deeply oversold level. Technical traders might consider buying at this level, as the stock is up nearly 3% today after a decisive test of the 50-day moving average.

Stops can be placed around $24, thus capping your potential loss to an acceptable leve.

Cliffs Natural Resources Inc. is a mining & natural resources company. It produces iron ore pellets, fines and lump ore, and metallurgical coal.

A look at Apple Inc (AAPL) — How High Can It Go?

by DAN Articles

Apple Inc ($AAPL) averages are at $525.45 (21 day SMA), $509.33 (50 day SMA), $456.91 (200 day SMA). Over the past 52 weeks AAPL has traded from a low of $385.10 to a high of $594.59. AAPL was last at $562.28 on a volume of 11,323,300. Average daily volume has been at 11,208,500.

52 Week Range $385.10-$594.59
Market Cap 507,379,443,196
Average Volume 11,208,500
Dividend Yield 2.21%
Institutional Ownership 62.80%
Insider Ownership: 0.70%
Percentage of Float Short 2.10%
Beta 0.84

This daily chart of Apple (AAPL) shows a stock that’s breaking out of a bearish wedge pattern (where highs and lows are higher…but the trendlines are converging). Typically, such patterns will lead to a breakdown. Here, AAPL is breaking out to the upside. This stock is now enjoying strong upside momentum as investors who were lulled to sleep by a rangebound stock are now chasing it.

A reasonable short-term price target on this stock would be $600.

Apple Inc designs, manufactures, and markets personal computers, mobile communication devices, media devices personal computers, and portable digital music players, and sells various related software, services, peripherals and networking solutions.

MercadoLibre testing support (NASDAQ:MELI)

by Josh Articles

MercadoLibre ($MELI) is testing support today. Shares were last at $104.19 on heavier than average volume. The $104 level is a key support level for MercadoLibre, serving as resistance before the gap up in May and support back in July. Shares are down 28.6% from their October high.

Shares fell below the 200 day moving average in last weeks trading and have continued lower this week.

52 Week Range $71.38-$145.99
Market Cap 4,604,709,383
Average Volume 572,420
Dividend Yield 0.53%
Institutional Ownership 0.00%
Insider Ownership: 1.50%
Percentage of Float Short 13.60%
Beta 1.40

Mercadolibre, Inc., operates an online trading site for the Latin American markets. The Company’s website allows businesses and individuals to list items and conduct sales and purchases online.