Watchlist 12/30/10

GEL upgraded. Has support at 26.25 and broke the recent high of 26.45. This run may continue on the upgrade and strength. MACD shows upside, while Stochs and RSI show overbought levels consistent with a breakout.Has recently broke out of a symmetrical triangle, a continuation pattern. Watch at open, look for a pullback entry since volume is lower than average.

MR upgraded and recently gapped up. Has resistance at 27 and support around 26.5 then 26.27 or the 20ma. Look for a break above 27 on volume, however a morning pullback to the 20ma may be a good entry.

RNOW upgraded and has posted a big green day. It may continue its run but has resistance at 23.37 then 23.9 the 20ma. There may be a pullback to the 12ma 23.16 which may be a good entry. Look like it broke out of a down channel as well.

VIV upgraded and has posted new 52 week highs. It also seems to have broken out of an upward trading channel. MACD shows upward continuation however other indicators show overbought levels which may be indicative of a breakout. Support is at 32.81 then 32.13. A slight pullback to the recent support may occur which would be a good entry.

CSUN look for this to bounce as it has reached a support level here. Indicators show oversold levels and a doji has formed at support. Volume is also a little flat and it was recently upgraded.

HLIT should tank soon. Volume has decreased, RSI and MACD look toppish. Look for a run to 8.75 before a drop. Support is at 8.55 then 8.25.

ONP Look for this to bounce off the 50ma of 6.14 with a run to .22 or .49. NOTE: it has accounting issues so a break below the 50ma may mean a short opportunity with supports at 6.04 then 5.76

UMC looks like a golden cross is imminent. It also looks like an pennant has formed with a breakout imminent. Indicators are mid-line with Stochs oversold.

COP, FIX and PBR watch for pullbacks, however PBR may break the 200ma and turn it too support.

TRE watch for a break.

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