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4pm a normal time for short squeezing?
Seems like Chartered will cheong in Nasdaq tonight.
watch for 1.29 breakout if it happens...
There is price disparity between the trade in SGX and NASDAQ. Singapore is bashing down the price while US side is upping the price. 1.26 done today at SGX against closing of about 1.29 closed at NASDAQ on Friday. Volume is relatively heavy at both end with Singapore done the most volume on Monday. Wait and see how it goes in the next few days.
Yeah, an upward gap cannot be considered a reversal. Dangerous to vest now. Look for further confirmation.
I don't see any price reversal yet... too early to tell.
Reversal of the price. It is heading upward - going forward. TMSC and UMC start to see their orders coming in. Chartered would also receive orders from their customers. It is not down anymore. The recent sell down had benefited on shorting the shares. It is now to accumluate the shares for it to trend higher in the coming days.
i think it is likely linked to AMD price change.
BTW, AMD was traded around US40 about 12-14 months ago, its price dropped more than 60% to current 14+.
Friday news:
Tech stocks pick up ground; Nvidia, Applied Materials make gains
Marketwatch - May 11, 2007 4:23 PM ET
SAN
FRANCISCO (Marketwatch) - Technology sector stocks posted gains across
the board Friday, with some notable movement coming out of the
semiconductor field.
Leading the way was graphics chip maker Nvidia Corp. (NVDA), which saw its shares jump 7% to close at $35.14.
Late
Thursday, the company reported a 44% rise in earnings for the first
quarter. Revenue jumped more than 23% to $844.28 - beating analyst
estimates for the period as the company cited growing demand for its
chips used to power TVs and gaming consoles.
Applied Materials (AMAT) picked up 3% after UBS upgraded the maker of chip manufacturing gear to buy from neutral.
In
a note to clients, analyst Stephen Chin cited the potential for
increased business from Rexchip, a joint venture that plans to build
new DRAM fabrication facilities over the next four years. Chin also
cited the company's growing business in the solar panel market.
Chipmaker Advanced Micro Devices (AMD)
posted its second straight day of strong gains, closing up 4.5% at
$14.68. The stock began to trade up Thursday amid media reports that
the company is laying off about 430 people, or 2.6% of its workforce,
in a cost-cutting move.
Tech heavyweights Intel (INTC), Hewlett-Packard Co. (HPQ), Dell Inc. (DELL), Cisco Systems (CSCO) and Microsoft all made modest gains by the close of trading.
The
Philadelphia Semiconductor Index $SOX, the tech-heavy Nasdaq Composite
Index $COMPQ and the Morgan Stanley High Tech 35 Index $MSH all picked
up more than 1% by the close of trading.
Maybe they know something we don't?
main customers AMD, Qualcomm, Infineon ramping up?
Just upgraded by HSBC, NASDAQ ADR jump 4% with above ave volume. If mirrorred, should trade around 1.29. Profit drop 76% yoy and they still upgrade the stock.....interesting....
Why are you people still taking about CSM??!
This counter is very volatile and also has little financial results to show for it.
Hi handon,
Breakout in which direction?
I see only bearish signs for this counter.
watch for breakout at 1.25 if it happens....
Happy trading...
Look very bearish for this counter.....avoid.
1.23 support broken. Next level 1.17.
If you're gonna long into this, think long term. Not a short term play. Extremely bearish candles. I stick to the short call.
Technicals on Chartered and how these technicals are saying sell at $1.40.
Click here for full writeup
A nice double bottom could possibly be formed today.
The last time it touches $1.25 was on 23/1/07.
That was also the time when Chartered made it's way towards a high of $1.62 on 26/2/07.
Well, selling could sometimes overshot a little ..... but then again, it's not time to be over negative.
Watch closely ..... may provide a beautiful surprise .....
A possible key reversal ?
Boll bands stretching. Smart money has flowed out further today. Volume has increased. 2 std devs hit. Histogram extends. All bad signals if you're still long on this. Next immediate support at 1.23.
Short.
Broke 1.29 Psychological support already.
Where is the next support?
