Wednesday, August 29, 2012

Tues, Aug 28: ALTR, CTRP, EA, KFT, XLNX

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.

ALTR. Jan 2011 to present. Daily candles.
ALTR. Dec 12, 2011 to present. Hourly candles. 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.

CTRP. Aug 2 to present. 5-minute candles.
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).

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.

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.

XLNX. Dec 12, 2011 to present. Hourly candles.