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 3 2006
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| STOCK: SATYAM INFOWAY (SIFY) |
CRAMER SAYS: I’LL TAKE REDF INSTEAD |
| CURRENT PRICE: 10.66 |
TREND: SHORT TERM UP |
| TARGET PRICE: N/A |
RECOMMENDATION: SPECULATIVE TRADE |
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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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When Jim was asked about this stock during the Lightning Round, he didn’t like it, and would instead go with a competitor (symbol: REDF). We decided to take a look at it, to see how the technicals were looking. The long term chart shows an impressive breakout from a large trading range, which caused the stock to appreciate 50%, not bad! The MACD has been heading down this year, and doesn’t seem like its done just yet, despite the increase in value over the last couple of weeks. Buyers came in after the drop, so it is unclear the depth of the lows, but it may have support at its recent lows. On the daily chart, the price seems to have support at the average, and recently rebounded when it touched the 50 dma. Yesterday, the price closed well off of its highs, which is interesting, since profit taking or sellers came in to bring the price down. The MACD though is showing signs of a positive cross over here, so things may heat up in the short term.
Bottom line, looks good to trade on a short term basis only, since the long term trend isn’t very strong.
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