Tuesday, September 21, 2010

ENDP Watch

Endo Pharmaceuticals Holdings Inc. (ENDP) has moved back into bear phase on a drop that leaves it trading within range. ENDP completed its tender offer for another company.

ENDP $28.97

The fast stochastic and the macd moved to bear phase. Person's Proprietary Signal (pps) also showed bear phase, but it was ghosting -- fading in and out like a Cheshire cat's grin.

On the Person's chart, the preceding bull phase produced a 4% price rise, not too shabby by any measure. However, only the most nimble of traders, playing after-hours, could have avoided losing about half that profit at the opening.

Today's 2.6% price decline, intraday, brought ENDP close to the first lower weekly pivot.

Person's Table
ppspps openupper pivotlower pivot
ENDP $28.97 $28.32 sept3 $30.15 +4.1% $28.80 -0.6%

When I wrote about this stock on Sept. 13, I identified a bullish pennant pattern in the making. NOthing about today's price move breaks the pattern -- it may still play out.

Yet, the signals are what they are. Short-term traders will jackrabbit out now. Traders with a longer horizon will stay in until the price breaks below the 200-day moving average.

Reversal Levels
  • $29.90, +3.2% (swing high)
  • $28.97 <== You are here.
  • $28.51, -1.6% (20-day ma)
  • $27.06, -6.6% (recent low)
Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.
  • pps - Person's Proprietary Signal.
  • psar - Parabolic Stop and Reverse
  • ma20 - 20-day moving average
  • ma200 - 200-day moving average
  • macd - Moving Average Convergence-Divergence
  • sto - Fast Stochastic
About the glance: The colors indicate the state of each signal.
  • trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways.
  • sto: green for bull, red for bear.
  • sto zone: green for overbought (80+), red for oversold (20-), yellow for neutral zone
  • psar, pps, macd: green for bull mode, red for bear.
  • macd trend: green for rising, yellow for sideways, red for falling.
  • neutral.
  • ma20, ma200: green for above the average by more than 1%, red for below the average by more than 1%, yellow for within 1% either side of the average.

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