Tuesday, August 21, 2012

Mon, Aug 20: EA, EXPE, FSLR, INTU

As the Aug 21 market day has just started, here's an abridged overview of some interesting charts from yesterday's trade (Aug 20). All four securities charted below are NASDAQ-100 components.

Electronic Arts (EA) is in a heady rally on the 20-day chart. Yesterday's market action saw a pull-back, and price found support precisely at the 18-day price channel.

EA. July 24 to present. 5-minute candles.
Expedia (EXPE) has recently been in a modest bearish consolidation after a strong gap up on July 27 following a well-received earnings report. In August 20 afternoon trade, price action tentatively pierced the resistance side of a price channel, which augurs well for a further advance.

EXPE. July 24 to present. 5-minute candles.
First Solar (FSLR) is a staple of short-term traders. August 20 trade saw FSLR rally beyond a moderately-defined 4-year price channel, on high volume no less.

FSLR. April 2008 to present. Daily candles.
Intuit (INTU), meanwhile, is exhibiting an interesting consistency on the hourly-candles chart with regard to forming short-lived wave patterns, especially since mid-May. The frequency of the wave is about 8 to 10 market sessions.

INTU. Dec 2, 2011 to present. Hourly candles.