Friday, October 23, 2015

JC Penney $JCP, Amkor Technolog $AMKR

J C Penney Company Inc (NYSE:JCP) looks to have consolidated and may be getting ready for another leg higher. The stock needs to break out above $10.09 to go higher.

Amkor Technology, Inc.(NASDAQ:AMKR) looks ready to break a recent high of $5.62. Technical indicators are looking positive with the RSI and MACD rising. Keep it on your watch list going forward.

Nordic American Tanker Ltd (NYSE: NAT)

Nordic American Tankers Limited, a tanker company, engages in acquiring and chartering double-hull tankers. As of December 31, 2014, it owned 24 Suezmax crude oil tankers, including two new buildings under construction. The company was founded in 1995 and is based in Hamilton, Bermuda.
Take a look at the 1-year chart of Nordic (NYSE: NAT) below with added notations:
NAT moves closer to a breakout
Overall, NAT has been trending higher throughout most of 2015. Twice over the past 3 months the stock has hit the same resistance at $17 (red). Last week the stock tried again to break above that mark, but failed once more. A close above the $17 should lead to a significant leg higher for NAT.

The Tale of the Tape: NAT has a 52-week resistance at $17. The possible long position on the stock would be on a breakout above that level with a stop placed under it.

US Dollar Decline Cycle

The US Dollar Index hit a low in 1995, a high in 2002, a low in 2008, and a recent high in 2015.  Examine the following 20 year chart of the dollar.

Note that the vertical blue lines are 79 months apart and show approximate low, high, low, and high cycle extremes.  I have noted the dates for the weekly low and high closes near the green and red circles.  (more)

Chart of the Day Hawaiian Holdings (HA)

Since the Trend Spotter signaled a buy on 9/11 the stock gained 28.88%.

Hawaiian Holdings is a holding company of Hawaiian Airlines. Hawaiian Airlines is the largest airline headquartered in Hawaii. They are engaged primarily in the scheduled transportation of passengers, cargo and mail. Scheduled passenger service consists of daily service between Hawaii and Las Vegas, Nevada and the four key United States West Coast gateway cities of Los Angeles and San Francisco, California, Seattle, Washington and Portland, Oregon; daily service among the major islands of Hawaii; and bi-weekly service to Pago Pago, American Samoa, Papeete and Tahiti.

Barchart technical indicators:

  • 100% Barchart technical buy signals
  • 119.60+ Weighted Alpha
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 27.68% in the last month
  • Relative Strength Index 78.39%
  • Barchart computes a technical support level at 27.96
  • Recently traded at 32.08 with a 50 day moving average of 25.24
Fundamental factors:
  • Market Cap $1.76 billion
  • P/E 11.57
  • Revenue expected to decline .20% this year but increase again by 4.10% next year
  • Earnings estimated to increase 91.00% this year, an additional 6.80% next year and continue to compound at an annual rate of 29.30% for the next 5 years
  • Wall Street analysts issued 2 strong buy, 2 buy, 3 hold and 2 under perform recommendations on the stock