Today's Pick of the Day is HOKU. TheSUBWAY Blog:
http://stock-promoter.thesubway.com/investment-opinions/hoku-...
We got into HOKU earlier this week, you can see our previous analysis here:
http://stock-promoter.thesubway.com/thesubway-clients/hoku-is...
http://stock-promoter.thesubway.com/thesubway-clients/hoku-is...
We first caught HOKU at $5.68. We don't expect a big move today, but we are looking to lighten our position by the end of the day. We suggested a stop just under $6 on 8/26/2008 to protect profits. We would have been stopped out of most of our position there but would be getting back in this morning. We anticipate very light volume today and would anticipate a small gain today in HOKU. We will have a trailing stop about .10 below today's entry point.
Our daily chart is showing support at its current level as it has bounced off the $6.11 / $6.12 area.
Our 15 minute chart is looking good, indicating upward momentum:
Our weekly chart is showing continued momentum to the upside:
Our PHILS X2 is showing contintued institutional buying:
We are looking to lighten our position but not fully be out of HOKU as it goes into its next resistance area of $6.23. If it gets through there with any volume we will add back to our position, but will getting lighter as it goes into this resistance area unless we see increasing volume:
TheSubway.com site acknowledges and thanks the principles of www.philsgang.com site for their permission in allowing us the use and demonstration of the their Phil’s X-1 and Phil’s X-2 charting software.
$6.12 (08/29/08)
