| Technical Analysis charts of CELG CEPH UPS JPM |
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| Friday, February 10, 2006 |
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Morning Update- CELG,CEPH,JPM,& UPS
Celgene Corp. (CELG)- Daily chart
Celegene's daily chart shows that it has broken out of ascending triangle pattern, and it is now forming a bull flag. On the daily, you can see that CELG closed up 1.69% at $71.15. Furthermore, the indicators and oscillators are bullish. The PPO continues to make new highs along with price.
Cephalon, Inc. (CEPH) -Daily chart
On the daily chart, you can see that CEPH is forming a bullish pennant. It has recently pulled back to fill the gap, but it remains above the downtrend line. Although the action in this stock has created some whipsaw, the Aroon indicator is now crossing over and stochastics are diverging. On the weekly chart CEPH, is in a Slim Jim pattern. New all time highs will be above $83.00 where there is no overhead resistance.
J.P. Morgan (JPM)- Daily chart
The daily chart illustrates that JPM is forming a possible symmetrical continuation triangle. The price target is in the mid 40's once it breaks above the down trend line. As you can see, the PPO and stochastics are starting to turn up. I am not going to put JPM in the portfolio, because I prefer higher beta momentum stocks. Nevertheless, if you like large caps then please feel free to buy it. Should JPM break out, so should the banking and brokerage sector, which in turn shall add momentum to the broader market.
UPS (UPS)- Daily chart
I also want to show you the chart of UPS to show you that since it is a component of the TRAN that it is also in a bullish pattern. The pattern that it is currently in, is a falling wedge reversal / continuation pattern. As you can see, the PPO and stochastics are starting to turn up. With the strength of the TRAN you may want to invest in UPS- the price target us in the mid 80's upon confirmation of a break of the down trend line. This should add momentum to the TRAN.
CELG
CEPH
JPM
UPS
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