This morning we are staying in Hoku Scientific, Inc. (NASDAQ: HOKU). We got into HOKU again around $5.45 earlier this week. It was showing great relative strength in a bad tape this week.
We have a trailing stop following HOKU to ensure we lock in profits. Our PHILS X2 is brown signaling institutions are not buying HOKU currently (It is blue when institutions are buying a stock). So we will keep our trailing stop a little tighter. We are anticipating the institutions to come back into HOKU as it is has broken out of its range to the upside and is now above the resistance level of $6.18:
The Stochastics are in an excellent position for entry in HOKU this morning:
Our Daily chart is showing a strong move to the upside:
Though our 15 Minute chart is not yet showing momentum strong upward for the last 5 trading days yet, another reason we are keeping our trailing stop tighter:
Finally our Weekly chart is showing a slight upward trend. The Stochastics are getting near the top, but Hoku Scientific, Inc. (NASDAQ: HOKU) can continue higher like this. Until we see stronger technical indicators we will keep our trailing stop tight. If we get stopped out we will watch for another entry point into Hoku Scientific, Inc. (NASDAQ: HOKU). If we see institutions getting back into HOKU, with our PHILS X2 turning blue we will look to either get back into HOKU or build our position again. Good Luck Trading!!!
TheSubway.com 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.
Full disclosure: Long at time of writing - Disclosure of Conflicts of Interest
All material herein was prepared by CRG Partners, Inc. (CRGP) based upon information believed to be reliable. The information contained herein is not guaranteed by CRGP to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. CRGP is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on http://www.thesubway.com or mentioned herein. CRGP may have been compensated by third party shareholders with shares or with cash from the company on behalf of one or more of the companies mentioned in this opinion. CRGP's Licensors, affiliates, officers, directors and employees may own shares and intend to buy and sell additional shares of the company mentioned herein and may profit in the event those shares rise in value.
$6.31 (09/19/08)
