XLK is a technology ETF (Exchange Traded Fund). The top 20 holding as of Sept 4, 2009 are listed follow:
FRE & FNM have been heavily traded recently and this is a very good chance to do momentum investment. Both charts are very similar which showing “higher previous high, higher previous low” kind of up trend.
FRE has a $1.718 support line (61.8% Fibonacci Retracement)
FNM has a $1.472 support line (61.8% Fibonacci Retracement)
Both charts are currently bearish divergence and need to wait for MACD to cross the red signal line to enter the trade.
What goes up must come down, what come down must go up! Although Cosco’s stock price has been beaten down recently, it has very big upside potential in the long term although the current fundamental is not really fantastic.
There are signs that Cosco will be breaking out from the triangle soon. The gyration of the wave is getting smaller as every day goes by. The stock price is currently testing its 20D & 50D MA support line. If it breaks out from the triangle and move south, the next support line is $1.15 (61.8% Fibonacci Retracement). If it breaks out and move north, $1.45 will be a strong resistance.
3 Years Historical High = $7.9
Current Price = $1.25 (16% of the 3 years historical high)