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View Full Version : Cell - A Brightpoint soon?

Riddicks
06-24-2008, 10:06 PM
Hi guys, I was scanning through the market and saw this chart on my watchlist and saw how it had dropped unfavourably. Fundamentally this company has been signing up contracts lately and decreased their earnings forecast. But technically this looks like a good time for a bounce.

5 straight days of negative closings. Last 3 days with twice the avg volume. RSI at 2.39.

I am attaching a chart, any opinions would be helpful.
Riddicks
06-24-2008, 10:08 PM
Sorry, here is the chart.
Riddicks
06-30-2008, 02:01 PM
Gapped up nicely this morning. I am looking for $8.50 on this, anybody have any thoughts?

Up 6% so far.
TheChartGuru
06-30-2008, 02:12 PM
Gapped up nicely this morning. I am looking for $8.50 on this, anybody have any thoughts?

Up 6% so far.

8.75 is reasonable, but the trend is down with lots of resistance. Should be a great short if and when it gets overbought near $9.

The Guru
Riddicks
06-30-2008, 02:18 PM
Yes it will be, I was just looking to play this as a swing move. I will keep an eye on it till $8.50-$8.75 then bail and look to short this on the way down.

Thanks GURU.
wallstreetsedge
07-01-2008, 01:27 AM
time to fall out of the sky
Riddicks
07-01-2008, 01:57 AM
Thanks WSE, this pick was based on your advice.
wallstreetsedge
07-01-2008, 11:36 AM
lol nice!
Riddicks
08-23-2008, 07:59 PM
Its about to get very interesting again for this stock. See if it can break $8.25 here, if not then short it back down. I'll be keeping my eye on it.
Riddicks
08-27-2008, 03:41 PM
It broke $8.25 today, up 5%.
stideas
08-27-2008, 05:53 PM
8.75 is reasonable, but the trend is down with lots of resistance. Should be a great short if and when it gets overbought near $9.

The Guru


I completely agree with "The Guru" as there is resistance at each and every point on it up move. I would be really careful with this kind of stock as big volume selling can show up any moment.