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 February 27 2006
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| STOCK: CONEXANT SYSTEMS (CNXT) |
WEBSITE: www.conexant.com |
| CURRENT PRICE: 2.92 |
TREND: UP TREND, BOTH LONG AND SHORT |
| TARGET PRICE: N/A |
RECOMMENDATION: 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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This Nasdaq listed company seems to be on a healthy run for about a year now, will it last? Taking a look at the long term chart, you can see this up trend, and how it has been holding the trend line drawn on the chart. At its current price, it has come off about 20% off of its recent highs, which is a nice pull back, and it may be ready to continue its up trend. The MACD is not giving a clear picture here, as it may want to go down from here, but the last few times it tried to make a negative cross over, it failed, which may be its fate again here. On the money flow side, inflows are still apparent, which is a good sign, especially with the recent consolidation, which brought money into the stock, and ultimately shows support here. On the short term chart, you can see the consolidation more clearly, which has been in tact since January. The main point of interest on this chart is the MACD relationship to its price movement. As the price moves down, the MACD is going higher, which points to a strong reversal signal, and this divergence should propel the stock higher shortly. The RSI also wants to turn up here, which is another positive for the stock. You should watch the price relative to its moving average, which is just below the current stock price ($2.87).
Overall, things are looking good for this stock here, and it should resume its up trend in the coming days and weeks.
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