Cameron International Corporation provides flow equipment products,
systems, and services worldwide. Its Drilling & Production Systems
segment offers systems and equipment to control pressures and direct
flows of oil and gas wells, and designs and manufactures structural
components for land and offshore drilling rigs. This segment provides
surface and subsea production systems, blowout preventers, drilling and
production control systems, block and gate valves, actuators, chokes,
wellheads, manifolds, drilling risers, top drives, mud pumps,
elastomers, and other rig products. The company's Valves &
Measurement segment offers valves and measurement systems primarily to
control, direct, and measure the flow of oil and gas. This segment
provides gate and ball valves, butterfly valves, double block and bleed
valves, plug and globe valves, check valves, actuators and chokes. Its
Process & Compression Systems segment offers process packages for
the separation and treatment of impurities. This segment provides oil
and gas separation equipment, heaters, dehydration and desalting units,
gas conditioning units, membrane separation and water processing
systems, integral engine-compressors, separable reciprocating
compressors, two and four-stroke cycle gas engines, turbochargers,
integrally-geared centrifugal compressors, compressor systems and
controls.
To review Gannett's stock, please take a look at the 1-year chart of
CAM (Cameron International Corporation) below with my added notations:
There's a lot to discuss on the chart of CAM. First, the stock has
been stuck in a sideways move for about (6) months, and along the way,
has created a key level of $60 (blue) that has been support ever since
the stock got above it. Next, that stock has formed resistances at both
$65 (navy) and $66 (red), the latter being a 52-week high resistance. A
break below $60 should mean lower prices for the stock and a break above
$66 would most likely mean higher prices ahead.
Also take note of the fact that CAM has falsely broke higher and falsely broke support (brown). This is why stops are essential.
The Tale of the Tape: CAM is trading within somewhat
of a rectangle pattern. The possible long positions on the stock would
be either on a pullback to $60, or on a breakout above $66 (An “alert”
could be set on a move above $65). The ideal short opportunity would be
on a break below $60.
Please share this article
Martin Armstrong
came on with this shocker – Dow 32,000 by 2015! The reasons are quite
simple. The rest of the world is crumbling, even China. As a result, the
money is flowing to the US. Where’s it going? Treasuries and the Stock
Market. Sound counter-intuitive? Maybe so, but Martin makes a very
persuasive case. Gold will be a beneficiary too, but in 2015. Listen
carefully to this interview. And watch out for your government, they’ve
got the knives out for you and your wealth. Private pensions won’t be
private for long.
Click Here to Listen to the AudioPlease share this article
EBAY has been holding a very important level of support of $50 (navy)
since December of last year. You can also see that $50 had been a
resistance (red) prior to that back in October and November. No matter
what the market has or has not done since December, the stock has held
that $50 level. EBAY is approaching $50 again and that should provide
another bounce higher, but if the overall market sells-off, EBAY could
break that support.
