Sino Clean Energy Inc. (NASDAQ:SCEI) – Shares of the leading producer and distributor of coal-water slurry fuel in China surged 41% to $1.47 per share yesterday after announced unaudited financial results for the third quarter of 2011. The technical chart displays a downtrend line broken to the upside on heavy volume. The stock is now back to positive trend again as it is now back above 50 day moving average after staying below the moving average for four months. The technical chart is also showing a bull market signal as %K line is still on top of %D line while MACD is near its signal line. SCEI could be heading for a new bull market rally.

(click to enlarge)

Pacific Ethanol Inc (NASDAQ:PEIX) shares closed at $1.40 Monday, a gain of 0.72% percent with a volume of 28 million of shares. The stock has surged more than 500% in the past 5 weeks. On a technical basis Pacific Ethanol seems to be overextended. It has been overbought too quickly for most of the momentum to be sustainable. Based on the current RSI levels in the stock, the probability of the rally continuing next week is not high. Nonetheless, the stock can go higher even if is overextended. Although the recent move maybe needs a small correction before going higher. At this point, I recommend using this rally as an opportunity to raise cash, sit on the sidelines and wait for a good buying opportunity for the long term. I remain very sceptical of where the price will go in the next few days.

(click to enlarge)

Energy Conversion Devices, Inc. (NASDAQ:ENER) remains in a clear short-term uptrend but the recent surge may spur some profit taking. The stock needs to break Thursday’s high of $.435 to expect a strong rally at this point.

(click to enlarge)

Gentiva Health Services, Inc.(NASDAQ:GTIV) is flagging here. If it’s breaks $6 it will absolutely fly into the 7’s right away.

(click to enlarge)

Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.
About Antonio Costa 324 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

Visit: AC Investor Blog

Be the first to comment

Leave a Reply

Your email address will not be published.