Thursday, July 5, 2007

DFNS Weekly Chart! Ready to move?

Here is a 1 year weekly chart of DFNS. I drew a couple of trendlines on it. The horizontal trendline shows the resistance currently facing. (You can click the chart to make it look bigger)
As you can see from the chart it hasn't had a closed above .61. Even though it traded higher then that it never closed above that. We are sitting at .60 right now.
I think if we can get a close above .61 the stock should move nicely to the low .70's-low .80's. If I see a weekly close above .61 I will probably buy a few more shares strictly just for trading I would exit those shares probably in the low .70's or so. I don't want to be too over weighted in the stock but if I see a good trade I will take it.
I think it would look REALLY good for Q2 earnings if we could get a rally prior the earnings release.
I haven't contact DFNS yet but its on my list. Hopefully I will get to it later today. (You are always free to contact them as well.)
Have a good day
Steve Hoven

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