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 March 21 2006
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| STOCK: COMDEV (CDV) |
WEBSITE: www.comdev.com |
| CURRENT PRICE: 3.24 |
TREND: AT RESISTANCE, TIME TO TAKE A BREAK |
| TARGET PRICE: N/A |
RECOMMENDATION: WAIT |
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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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Technical analysis for today is provided on Comdev, a TSX listed company who’s stock has been on a tear lately. Taking a look at the first chart, you can see the impressive rise which has caused the stock to double since its December lows. The stock built a solid base around $2.30, and pretty much sprung to its current level. Currently though, there is some resistance at current levels, and it may be time for the stock to take a break here and consolidate. The indicators on the bottom of this chart show the massive influx of money that came into the stock, and obviously caused the price to rise. The MACD is still treading higher to a range not seen in almost two years! The second chart shows a closer look at the price movement, since it focus’ only on the past year. Note the crossing over of the moving averages, with the 50 day starting to move ahead of the 200 day average; it should be interesting to see if it can hold this positive signal into the future. Signs of a consolidation are starting to show up here as well, with the resistance level clearly visible, the MACD very high at overbought levels, as well as the RSI.
Over all, this stock has been through a massive up swing, and its only healthy for it to take a break here. Expect a breather here, but watch it closely, as any strong movement above resistance would be a positive signal that the up trend is still in tact.
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