Thursday, May 18, 2006

Watch List - FLSH, AAPL, BRCM

This is a thirty min. view of FLSH which broke out of its bullish flag pattern today. Support at $35.25 and resistance at $36.00.


AAPL has been very bearish since its failed inverted H&S pattern. This week we've had two bearish engulfing patterns. If AAPL breaches the 200 MA on a closing basis, it will signal further price deterioration.

This is a 15 minute view of BRCM. Today's late afternoon session filled yesterday morning's opening gap. However, the AH session brought price just above $37.00. We could open as high as $37.40 and once we take that out we could retest $38.00. After $38.00 is successfully taken, we could go as high as the 20 day EMA on the daily chart which is currently reading $39.45. I know it sounds ambitous, but we've been very patient all week.

Also watch tonight's AH movers - DELL, MRVL, and AMD on the open. Expect a big gap up for AMD in the $35-36.00 area.

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