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GIANT INTERACTIVE, INC.
marlin
blog
I have been watching (GA) Giant Interactive, Inc. for the past 7 months since the stock had its initial public offering in late October of 2007. The stock debuted on the day of its offering at $15.50. It ran up as high as $20.46 then started pulling back as it got a lot pressure from the markets due to subprime issues, the falling dollar, and credit concerns. The pullback lasted until mid December 2007 with the stock reaching a low of $9.56. Since the breakdown in price the stock moved in a channel consolidating between a low of $9.50 and a high of $13.67 for about 5 months. As of April 26, 2007 the stock finally broke out above resistance at $13.67 and has been making higher highs and higher lows. GA is currently above its 5, 10, and 50 day moving averages with heavy volume. The stock ended today trading at $17.15 on volume of 3.28 million +1.46 or +9.31 percent. My price target for (GA) Giant Interactive is $21.00 with a stop loss at $16.10.
Giant Interactive is a company that operates online games in the Peoples Republic of China. The company was founded in 2004 and is based in based in Shanghai, China. The company focuses on online games that are played through network game servers, in which thousands of players are able to interact and connect.
Being that the Shanghai Index is moving to the upside after being down for the past few months there will be more Chinese stocks that will be moving in the coming weeks. Please keep a close watch on stocks such as LDK, SOLF, CHNR, STV, SOL, TOMO, and RCH just to name a few of the stocks in the Chinese markets. This stock will be making huge moves going forward.
As for the U.S. markets the Dow Jones Industrial Average, Nasdaq, and S&P 500 have been continuing to move higher after breaking through previous resistance levels. I think they will all pull back to those previous resistance levels before heading higher into the summer. Many investors are sticking to their old game plans based on tradition sell in May and go away. From what I see I don’t think there will be a need to sell. I think the markets will continue to run higher until the end of the year with gold reaching as high as $1500 per troy ounce and oil reaching $130 to $135 per barrel by the end of the year.
By: Marlin Rolle
http://stockmp.blogspot.com/
May 6th, 2008 at 3:44 pm
Nice writing style. Looking forward to reading more from you.
Chris Moran
May 8th, 2008 at 10:30 am
If i have time this afternoon or tomorrow morning, ill put up the charts of some of the stocks on my short list. Most of them are in consolidation mode right now, and will probably pop sometime early next week. As for the markets, especially in the Dow (which i know most traders dont follow as closely as the S&P) it hit resistance the other day at a spot that was support for a head and shoulders pattern that broke earlier this year. This break was what led to the downward plunge the market experienced from January to March. I think the market will need to consolidat for a couple more days if it is to build up the momentum it needs to break through this level. Failure to do so will probably put the market into a short term bearish, longer term neutral movement
May 8th, 2008 at 10:51 am
I would like to add one other comment, if i may. I have noticed in most of my searches that the stocks that are making the best setups for bounces off support, at least from my searches and watchlists, are either from energy or steel companies. HHHMMMM. Think about that for a bit.
May 8th, 2008 at 11:56 am
GNA and SWHC on my short list. Both are undergoing healthy consolidation after a move. Look for a pop early to mid next week.
PTEN, GMXR, moving to my short list. They should consilidate for the next several days and may be ready to pop end of next week to early the following week.
May 8th, 2008 at 1:59 pm
This morning is looking really slow. So far, all stocks on my watch lists are showing extremely low volume, and almost all are holding above their closes from yesterday. I see the same thing in the three major indices. All three are holding above yesterday’s close on very low volume. After yesterday’s big down day, I see this as a good thing. I would like to see the markets consolidate sideways for another day or two before they break out to the upside. Monday would be ideal.
May 8th, 2008 at 2:43 pm
Hm, you think we’ll break out on Monday? Interesting…I think this is more than a consolidation though, breaking 1400 wasn’t a good sign, I’m not so sure that this market will recover.
May 8th, 2008 at 11:09 pm
Great article well written. The highlight for me was the excellent chart analysis. In charts like this you can quickly get lost in indicators and the like but the highlighting of key areas of the chart made it simple to follow the discussion. I will have to check out your blog.
May 9th, 2008 at 9:39 am
BVN is primed for a move to the down side. It making a bounce off resistance at $66 as we speak. Short it or buy puts, either way, it has at least $4 move in it, $6 for next support level, and strongest support at $50 level. Volume is average so far.
May 9th, 2008 at 9:55 am
FLS broke out of an ascending triangle two weeks ago. Since then it has been consolidating on decreasing volume. It is getting itself reprimed for another swing to the upside. Perhaps next week? Wait for the break out and buy at close, to confirm. If it doesnt break up, eh oh well, there are other fish in the sea.
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