| Technical Analysis CKCM TALX SINA Daily Monthly Charts |
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| Monday, March 20, 2006 |
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Morning Update - CKCM, TALX, SINA
Click Commerce, Inc (CKCM)
When you look at the monthly chart of CKCM you can see the bigger picture of what is going on with this stock. The monthly chart eliminates the noise you see in the daily and shorter time frame charts. As you can see, it declined sharply from it's highs at $225.00 in 2000 and went all the way down to it's lows at 0.93 which it reached in July 2002. It then spent the next year basing at the lows and established a bottom. It then broke its downtrend line and began to reverse to form a new uptrend line in 2004. With the current pullback it has held its monthly uptrend line. All bets are off with a trend line break of $20.00 which it should hold. The entire pattern overlaps so we know that CKCM is in a correction/rectracement up from the massive correction. Long term price target is at the 50% retracement level around $100.00 in a year. The pullback is worth the wait for the price target.
Talx Corp. (TALX)
The daily chart of TALX is a good example of what defines a correction. Triangle patterns contain ABC corrections. These price movements occur in 3 movements to make up one large ABC correction. The first ABC correction is from $33.713 down to $27.78, the second ABC correction retraced up to $34.70, the third ABC correction then overlapped $27.78 and went all the way down to $26.75. This created 3 ABC price movements which contain the larger wave 3 to 4 correction as well as a larger triangle. Previous ABC corrections have consistently held the uptrend illustrating the fact that the pattern is not broken.
Sina.com (SINA)
The daily chart of SINA shows that it is in a 3 year symmetrical triangle. It had a wave 3 to 4 correction and then coiled in a triangle. It is now back to the top of the downtrend line. Today, SINA traded up 5.71% and closed at $27.04.
On the weekly chart you can see that it is now trading in ints Andrews pitchfork. It is trying to break out. I like to would initiate a position on a back test. I will add it to the portfolio table on the back test or on the breakout. Wait for the alert on SINA.
CKCM--IF ITS NOT BROKE WE DON'T DO ANYTHING BUT WE ARE ALLOWED TO CUSS
TALX----IF ITS NOT BROKE WE DON'T DO ANYTHING BUT WE ARE ALLOWED TO CUSS AND THROW FITS AND PUNCH WALLS (OK KIDDING ON THE CUSSING PART)
SINA DAILY--IF THIS MARKET BEGINS TO TAKE OFF WATCH SINA EXPLODE
SINA WEEKLY--IF THIS MARKET BEGINS TO TAKE OFF WATCH SINA EXPLODE
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