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 28 2006
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| STOCK: HABANERO RESOURCES (HAO) |
WEBSITE: www.habaneroresources.com |
| CURRENT PRICE: 1.05 |
TREND: UPTREND IN TACT |
| TARGET PRICE: 1.25 |
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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This small cap Canadian Resource Company has been on a tear lately, with no strong resistance levels, things may continue to rise here. Taking a look at the long term chart, you can see three important points to take note of. First of all, there is a lot of money coming into the stock, which has enabled it to sustain this massive bull run. The MACD is also very high here, which may caution you that things may be a bit over extended at current levels. And the last point is also one of caution, where the run up has been so steep, without any major correction; but in fact, any weakness brings about more buyers, a good sign naturally. The short term chart essentially displays the same characteristics, with focus on the ascending trend line, supported by increasing moving averages, MACD and RSI.
Overall, things are still looking very positive here, but you should not lose sight of taking a bit off the table if you have been in the stock for the impressive run up, even though it may still tread higher from here.
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