The financial sector appears to be perking up. One of these financial stocks that look promising is MS. It has formed a double bottom like price pattern from the recent pull back. In the last trading session, it has broken above the double bottom pivot near 30.60 with the price riding above the 20 EMA and the 50 SMA. This breakout could potentially lead to a run up to the last peak near the 33.50 level.
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The other financial stock that has been strong is V. V appears it might never come down until the January 2014 pull back. It came down and found support from its long term rising trend line. The price bounced off this supporting trend line and filled the 1/23/2014 price gap. It pulled back from this level and consolidated for nearly two weeks. The recent price actions appear to be setting up a potential breakout from the 228.48 pivot level. If it clears this level, it could potentially make it back to previous high and possibly put in a new all time high above 235.
Coffee commodity prices have been rising and that spurred interest into other commodities. One in particular is corn. Trading volume has increased on the corn ETF, CORN. Even with the increase of trading volume, the total daily volume is still relatively light. Unless there are sustained interests in this ETF to keep the daily trading volume greater than 300K shares, the bid-ask spread for this ETF could widen when the daily trading volume reverts back to its normal level near 150K or less. It would be prudent to wait for this ETF to get into a primary up trend to help assure enough trading interest to keep the spread to a decent margin. But if one is eager to get involve with this ETF, then one would look for the price to break above 32.80 for a possible move toward next potential resistance level near 34.
AMBA, a semiconductor company specialized on imaging system-on-a-chip (SoC) for cameras produced by GoPro, has been getting some buzz since GoPro announced its IPO filing. In addition, speculations on GOOGLE might be partnering with AMBA also generated additional buzz for the stock. The recent AMBA price actions show it has found support off a rising trend line and has broken above the 32.50 pivot level. If the upward momentum holds, it could be heading up to the previous high near the 36 level.
INTC, the world largest semiconductor company, seems to have found support above the 23 level. Recently, the price seems to be consolidating within the engulfing candle put in on 2/21/2014. If the price breaks above 24.96, then it could potentially move up to fill the 1/16/2014 price gap. But if the price breaks below 24.35, then it could dip down to near the 23.50 to complete a potential head and shoulder price pattern that might lead to lower prices.
