Applied Materials (
AMAT) - Above is a daily chart of the AMAT showing a breakout failure and the subsequent fall back into the base. It looks like it is gonna squeeze some shorts to me. The technical chart shows the stock is currently in the rally as %K line is rising on top of %D line, indicate buy signal. Shareholders may remain invested with a stop- loss at $12.27. Watch for the move out of either side of the triangle.
( click to enlarge )
THQ (
THQI) - Above is a daily chart of THQI. The stock been in a healthy uptrend and recently has been trading sideways in a range. This type of pattern can be classified as an ascending triangle and usually resolves itself as a continuation pattern. Closing above 6.60 would be a step in the right direction. Some traders may wish to wait for the stock to clear the triangle, but the risk/reward ratio is better down here. I'm keeping an eye on THQI to see if the move is higher.
( click to enlarge )
GigaMedia (
GIGM) looks like it is in the process of developing a bull flag or pennant and the breakout should be a nice one if it can hold up.