Charting Stocks

Was it the iPhone app? Traders have been baffled by the unusually high buying interest in VoIP phone call provider Vonage Holdings Corp (NYSE: VG). The stock has risen 500% in 2 weeks with little or no news to warrant such a move. Perhaps the most amazing thing was the volume: Nearly 40 million shares [...]

Last week, we mentioned that technical indicators began to turn negative. Technical damage continued today as the Dow Jones Industrial Average, Dow Jones Transportation Average, and  S&P 500 closed below their pivotal 50 and 200 day moving averages (first time since March), with all 3 averages registering an RSI sell signal.  NASDAQ bucks the trend [...]

Financial stocks are beginning to show signs of weakness with Citigroup (NYSE: C) looking the most vulnerable.
Citigroup stock (chart below) was the first in this group to break their previous uptrend line. With RSI under 50 and the MACD indicator turning negative, it appears that Citi may be under some pressure in the coming weeks.

BREAKING: Ford Motor Company (NYSE: F) saw  Lincoln and Mercury sales fall 48% from February ‘08 to 96,044. The automaker also reported  405,000 units of inventory, a 32% reduction from the same period last year.
Ford expects to produce 425,000 vehicles in Q2 (135,000 cars and 290,000 trucks). In Q208, Ford produced 685,000 vehicles (237,000 [...]

On November 20th, 2008 it was announced that Saudi Prince Alwaleed bin Talal bought up shares of Citigroup (NYSE: C) increasing his holdings to 5% of the total outstanding shares. The move seemed quite daring at the time as Citigroup’s shares were in freefall dropping 25% in the previous trading day alone (down over 90% [...]