Just got in at 4.14, a little higher than I wanted to pay but nice chart settup
Glenayre Technologies Inc (GEMS). The Group's principal activity is to provide communication solutions for communications service providers, including wireless, traditional and broadband carriers.
Here's the long term chart on GEMS:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=1819;image)
I like these stocks that had a life before the early 2000 bubble. In fact, in 1995 and 1996 GEMS was a $50 stock. This stock is capable of pretty wild moves. In 2000 the stock went from a low of $2.28 to $30 a share in just 4 months (ok, but that was in the bubble time).
Let's check the medium term chart:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=1820;image)
We see a medium term bullish trend, and the trend is your friend. The last local high, in fact, the 5 year high, was $4.30, so expect some resistance at that point. However, I see more volume on this move up to that level than on the last run, so there's more money involved on this bullish trend which adds more credibility to the move.
The higher volume suggests that with time, probably the resistance level at $4.30 will be broke on the upside.
Considering the short term ...
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=1821;image)
You know I don't like to analyze intraday data, but from volume at this hour it seems this breakout from the consolidation phase is for real. The technical short term target of this signal is $4.56, above the $4.30 five year high.
In general I see a bullish technical picture on GEMS and consider wise to add to positions on pullbacks to that blue ascending trendline.
With more time we could dig through the company's fundamentals (the reason behind the move), but for now this technical analysis is enough. The market says «buy GEMS» and the market always knows better !
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This stock has heavy accumulation in 06', is very close to breaking out, and has over 1.5 million shares short. Great volume yesterday.
JUST BROKE OUT!! GREAT VOLUME!!!!!!!!!!!!!!!!
record volume yesterday, and there is a 1.5 million share short position. To the moon Alice
Fantastic continuation on the volume. Just under 1.9 million shares. Average volume is 383K
Good Job Adam, (Applaud) ;)
GEMS - Breakout from ascending triangle ;)
bot 4500 sh 4.08. I like it
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out at 4.19 with a slight profit.
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now in medc 0.62-63.
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The volume is still around, broke to a new 52 week high. This is going higher!!
GEMS has broken the 2 yr cup and handle. volume has been up 5 fold over the past two weeks. very long base in place. company has earnings est. of .40cts this yr from 5 yrs of losses. rumors of accretive acquisitions and initiations of coverage by a few firms running wild. management on the recent conf call stated that coverage was close and m&a will continue. jefferies conf on may 7-9, jefferries doesn't follow company -yet. fundamental are great 1.50 per share in cash.
technicals look fantastic.......will someone give their opinion.
Elite G, has been liking this stock. He thinks it needs to break through the $5 psychological level. The Street. COM just issued a $7 near term target
GEMS, GEMS, GEMS ,GEMS ;)
Continuing the breakout from previous post (Breakout from Ascending Triangle) :D
ADAM, (Applaud again for this pick) ;)
Goodluck!!
Quote from: Adam on March 27, 2006, 01:36:04 PM
The Street. COM just issued a $7 near term target
Adam,
Additonally, Cramer was very bullish on GEMS on Friday night. Short-term, the Cramer crowd has a problem. The stock reversed on them from the open, on the heaviest volume (distribution) since last June, and they're now under water by 5.3%.
As a cautiouary note to inexperienced traders, be careful playing those Cramer Booyah "Gaps to Crap." Frequently, those are at least a short-term top.
Applause for your work on this one, Adam!
I have made a lot of money with this stock and was out in the mid 5's. The market is taking this down to 4.50 in the premarket, conference call has not yet happened. Does anyone have an opinion? I think the action during the conference call will be quite telling.
Quote from: Adam on May 09, 2006, 08:56:50 AM
Does anyone have an opinion? I think the action during the conference call will be quite telling.
Adam,
Applause fpr your post.
Cramer was wild about GEMS and gave it a big BOOYAH on March 31. This morning is a gap down out of a Bearish Rising Wedge. The BOOYAH buyers are in trouble on anything below their 5.66 enty.
I'd say AVOID.
I'm keeping an eye on this one with a close at or above $2.65 being my buy point.
"GEMS" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;)
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. ;)
Thank You....and good luck with all your trades....make some $$$ ;D