Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for Febuary 2 2006
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| STOCK: FEDERATED DEPT STORES (FD) |
CRAMER SAYS: LIKE IT HERE |
| CURRENT PRICE: 67.07 |
TREND: RESUMING UP TREND |
| TARGET PRICE: N/A |
RECOMMENDATION: SPECULATIVE BUY |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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Jim was asked about this stock during his show last night at Harvard, and he blessed it, and after looking at the charts, we think it looks compelling here. On the three year weekly chart, you can see the large drop to $64.75, only to recover back to $67.07. If there was no interest in the stock, we would expect it to close near the low, which it did not do. The RSI tells us that the sentiment is improving here, hence the reason why the stock didn’t close near the low. The MACD is still pointing down here, but we don’t expect it to go much lower, and it should trend higher, but no conformation is available from the charts yet. On the daily chart, you can see the drop from $75 to $65, where it gathered support. The MACD has been fairly negative, and may follow the RSI, which has already started to trend higher.
All in all, things look pretty good here. 100% confirmation has not been given by the indicators, yet the stock is moving well off of its lows, which should cause the indicators to look better in the coming days and weeks.
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