Miles J. Stoner, @StockHollywood

Dallas, Texas

4.26.2011

Apr 26 - Wed. "REDF def"

  1. MELA - close to breaking out, 4 is the big move.
  2. REGN 
    • pre-market open Wednesday may have legs surrounding the 56 mark. Buy liquidity looked confident near the 56 level throughout tonight's trade, an area longs may want to watch as a near-term base support that could see lift back into the higher 56s, or perhaps make a run at 57.
  3. APKT
    • pre-bell open Wednesday may have potential surrounding the 75 mark. Sell momentum was most aggressive tonight between 76 and 75, a range where shorts may want to eye potential entry points that could see weakness back into the 74 to 73 range. On the long side, buyers may want to watch for any drops back toward 69 to 71.40, an area that stood as a floor in the first-half of night trade and where there may be opportunities to catch some bounces back into the lower 70s.
  4. BRCM 
    • pre-market open Wednesday may have potential in the 37.40 to 37 range. BRCM has tended to favor reversal movement between the sessions, doing so 18 times and putting up wider share moves nine times over the last seven years of quarters we've tracked. Its near-term pattern favors reversals between the sessions as well, doing so in four of the last five quarters. Looking deeper into the performance data, BRCM has seen an after-hours decline 11 times and one flat evening trade followed by a next-day decline. It is about mixed in its negative performance, adding to its declines in next-day trade five times and reversing direction six times. The reversal pattern in place, both long- and short-term, combined with some mixed data on downside moves, would have us looking at playing BRCM on both sides of the trade within the ranges scored tonight. On the short side, sell momentum was most aggressive tonight at 38.70 to 37.85, an area where a potential ceiling level could develop for shorts to eye. On the long side, buyers were most active off the low of 36.55 up to 37, a possible bottom support where longs could catch some upside lift into the low- to mid-37s.