BEAS - Sector: Technology --- Industry: Software & Programming

[Melf Elf]

Just printed the 8.95 neckline breakout.  BEAS has been very strong during the recent selloff.  The volume isn't that great, but it's an Inverse H&S breakout, nonetheless, on a print basis.  Target: 11.08 is IN PLAY as long as BEAS holds above 8.94.  It's currently 8.92 BID...8.93ASK.  I'd like to see the breakout hold on a close.

http://ts-lc.sc8.finance.lycos.com/1119986201156?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:BEAS&Interval=D&Permission=1000&Ht=400&Wd=600&Display=2&Study=MACD&Param1=12&Param2=26&Param3=9&FontSize=10&LocaleID=0x0409

[Melf Elf]

I bought it at 8.95.  That's the print breakout. I have a profit in BEAS from last week (posted above), so I'll play it, but I already don't like the lack of follow-thru.  The breakout at 8.95 also is the high print of the day 

My stop is below today's low of 8.56.  I'm not going to be real patient with this one.  If it's a breakout, it should go HIGHER, not take out today's low.  Risk: a loss of 4.35% .

BEAS currently is 8.93 BID...8.94ASK

[Melf Elf]

BEAS closed yesterday at 8.95, a penny above the neckline.  The high on the day was 9.03.  In the pre-market, it's currently 9.05 BID...9.12 ASK.  25,000 shares traded.

A "gap and go" would be great since we've got a pattern breakout, as long as it's not too much above yesterday's high of $9.03.  It's always a concern that the stock will come right back a day or few later to fill the gap.  I'd really like to see BEAS have a decent day today, and capitalize on that nice breakout yesterday.

http://ts-lc.sc8.finance.lycos.com/1119986201156?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:BEAS&Interval=D&Permission=1000&Ht=400&Wd=600&Display=2&Study=MACD&Param1=12&Param2=26&Param3=9&FontSize=10&LocaleID=0x0409

[Melf Elf]

BEAS got off to a fine start at the open, but the rally got blind-sided by news:

"Oracle's strong performance comes as corporate technology buyers consolidate spending with a few core vendors and doesn't necessarily spell an all-clear for software vendors. Banc of America's Mahedy, among other analysts, expects smaller vendors to struggle to achieve targets.

BEA Systems Inc. (BEAS), for instance, could face tough going. Oracle said it was taking away market share from BEA in the application server segment. BEA shares were down 29 cents, or 3.2%, to $8.66. The company wasn't immediate available to comment."

My reason for buying BEAS yesterday was that I liked the bullish chart and I liked the breakout. but not if BEAS came back down and traded inside the pattern.  If I wanted that, I wouldn't have sold it last week (posted above...sold for 5.8% profit).

BEAS currently is 8.65 BID...8.66 ASK with fifteen minutes remaining before the close, so it's not going to regain the 8.95 breakout level.  I sold here at 8.65 for a loss of 3.4% on this trade, but salvaged a gain of 2.4% on the two trades.

http://ts-lc.sc8.finance.lycos.com/1119986201156?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:BEAS&Interval=D&Permission=1000&Ht=400&Wd=600&Display=2&Study=MACD&Param1=12&Param2=26&Param3=9&FontSize=10&LocaleID=0x0409

[Melf Elf]

I sold the failed breakout yesterday.  Today, BEAS has come roaring back.  It's currently back above the 8.95 breakout, at 9.00 BID...9.01 ASK.  That's downright evil 

The best laid plans of mice and men...and elves...

http://ts-lc.sc8.finance.lycos.com/1119986201156?User=demo&Pswd=demo&DataType=GIF&Symbol=NASDAQ:BEAS&Interval=D&Permission=1000&Ht=400&Wd=600&Display=2&Study=MACD&Param1=12&Param2=26&Param3=9&FontSize=10&LocaleID=0x0409

[Adam]

EliteG any thoughts, this has great accumulation over the last 2 weeks

[luka]

NOW ... IS A GOOD PICK :

Starting a SWING UP ...

[setravis]

All Threads on BEAS 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.   

Thank You....and good luck with all your trades....make some $$$

[luka]

TECH. TARGET= $ 16.50