Harry has posted Charts of the Day video on YRCW at TheTechTrader site noting: YRC Worldwide Inc. (YRCW) had a spectacular day on Wednesday. It had a big breakaway gap, and then a surge that took it right up to the target at 23 3/4. Wednesday’s high was 23.99, which was a nominal new high. It also tagged the 50-day moving average, which was just pennies from there, so as a result, it backed off a little bit. It now has the potential for a declining topsline, probably Thursday or Friday. Look for a big move. It looks like it will get to 27 again, but we'll have to see if there is a follow-through day.
Harry has posted Charts of the Day video on CSIQ at TheTechTrader site noting: Canadian Solar Inc. (CSIQ) may be the star of the solar group right now by the way it’s acting, with a fantastic earnings report on big volume. It had a breakaway move that took it through the moving averages, lateral resistance, and declining topsline, then it worked its way above major resistance, formed a flag, and consolidated. On Wednesday, it was up 2.76, or 7.35%, on 6.3 million shares. The next target is 45, and then 48.
Harry has posted Charts of the Day video on AVNR at TheTechTrader site noting: Avanir Pharmaceuticals, Inc. (AVNR), which is also one of our swing trades, had a beautiful, explosive break-away gap with volume on Wednesday. It was up 43 cents, or 4%, on 14.7 million shares. Notice that it had a spike-high day on Monday, an inside day on Tuesday, and then on Wednesday, it was back up again to test the high. If it can get through 13.00-13.10, the high being 13.09 on Wednesday, look for a quick run to 16-16 1/2.
Harry has Posted Charts of the Day video on AEGRR at TheTechTrader site noting: Aegerion Pharmaceuticals, Inc. (AEGR) was up 1.28, or 4%, on 1.2 million shares on Wednesday. It looks like a potential nice swing, and we did put out a swing trade on it on Wednesday, because, not only did it take out the major declining topsline, but it broke through the coil that had been forming for three or four days, and broke out across resistance. The next target is at 36 1/2. Once it gets through that, look for it to head up toward 40, and then 44. It’s going to take volume and it needs a thrust, but I like the configuration of the chart – left shoulder-head-right shoulder -- and it does resemble some inverse head-and-shoulder bottoming pattern. So keep an eye on this one.
Harry has posted Charts of the Day video on RDNT at TheTechTrader site noting: RadNet, Inc. (RDNT), a swing trade of ours, broke out of a 4-week coil on Thursday, and popped 79 cents, or 11%, on 2.3 million shares, closing at the high end of the range. Look for a run of 10 dollars.
Harry has posted Charts of the Day video on FEYE at TheTechTrader site noting: FireEye, Inc. (FEYE) is acting well. Since May this stock ran up in a 3-wave corrective move, it formed a bear flag, rolled over and tested the lows, that was followed by another move up. After the reversal a week and a half ago, I’m a little skeptical, but with 5 up-days in a row, and getting through two levels of resistance, it may very well test the 37-39 zone. It went as high as 36.85 on Thursday. If it did get a consolidation in that zone, it wouldn’t be so bad. The target is 37-37 1/4 short term, and then upwards to 41-41 1/2. It has a very nice basing pattern, a surge in volume and good technicals.
Harry has posted Charts of the Day video on ENPH at TheTechTrader site noting:Enphase Energy, Inc. (ENPH) is a new swing trade of ours. This stock was up 54 cents, or 3.3%, on 1.1 million shares on Thursday. That’s the best volume in five or six days, and the second best in a couple weeks. After the recent breakout, it looks like this one may be headed up toward 20.
Harry has posted Charts of the Day video on ANAC at TheTechTrader site noting: Anacor Pharmaceuticals, Inc. (ANAC) had another great day. Looking back to the little top in Jan, and another top April, those highs were taken out last week, it pulled back and tested, and on Thursday, it blew through it again, with a 25.48 high, and closed at the high going away at the highest level ever, a new all-time high. It looks like it wants to go higher. Look for it to head up toward the 29-30 range, which is the next target for ANAC.
CSCO Still has Unfinished Business on the Upside... One name in the technology sector that has been lagging the high-octane names like Twitter, Inc., Facebook, Inc. (FB), Tesla Motors, Inc. (TSLA), and Intel Corporation (INTC) is Cisco Systems. Inc. (CSCO).
However, that might be on the verge of changing as CSCO looks to be on the verge of upside acceleration after a completed correction off of its July 22 high at 26.08 to the Aug 14 low at 24.32.
In addition, my intermediate-term work argues that CSCO needs one more advance to complete its larger bull phase from the Dec 13, 2013 major corrective low at 20.22 to new highs above 26.50.
Harry has posted Charts of the Day video on NPSP at TheTechTrader site noting: NPS Pharmaceuticals, Inc. (NPSP) is really developing well. Wednesday was a big day for it, breaking the declining topsline and lateral resistance, and it blew up through the moving average as well at the high for the day going away. Expect to see 35 short term, and then 37.
Harry has posted Charts of the Day video on CMRX at TheTechTrader site noting:Chimerix, Inc. (CMRX) is a biotech that is happening. It has multiple tops a couple years apart, and it blew through it on Wednesday, up 1.49, or 17.6%, on nearly a million shares. That’s the biggest volume on an up-day in a year, or longer. It looks like it’s headed up toward the mid 30’s
Harry has posted Charts of the Day video on BDSI at TheTechTrader site noting: BioDelivery Sciences International, Inc. (BDSI), one of our swing trades, is acting great. It had a one-day pullback, consolidated in that zone, and on Wednesday, it popped 41 cents, or 2.39%, on 1.2 million shares. That’s not very big volume for this stock, so it may continue to consolidate for another few days. Watch to see it flag in here, and then go to the high teens, low 20’s.
Harry has posted Charts of the Day video on ARWR at TheTechTrader site noting: Arrowhead Research Corp. (ARWR) is in a bottoming pattern, with a nice pullback retest. It worked its way up to resistance at the 16.90 level, pulled back to test it, consolidated for a week, and on Wednesday, it was up 77 cents, or 4.77%, on 2.9 million shares. Although that wasn’t big volume, it made it through the 17.45 area, and looks like it could take a run to 18 1/4-1/2, and then the low 20’s.
Harry has posted Charts of the Day video on QIHU at TheTechTrader site noting: Qihoo 360 Technology Co. Ltd. (QIHU) looks interesting. It appears to have a massive top in what looks like a left shoulder-head-right shoulder. The major trend channel has been broken, and the double bottom was broken on Tuesday. Expect a test of double bottom from May near 74, which is 8 points from it closed on Tuesday at 82.71.
Harry has posted Charts of the Day video on ININ at TheTechTrader site noting: Interactive Intelligence Group Inc. (ININ) has a nasty-looking pattern. It has 4-waves down, then it formed a large coil that if it breaks down it will put this stock in the mid 30’s zone. The target is 36.
Harry has posted Charts of the Day video on GRMN at TheTechTrader site noting: Garmin Ltd. (GRMN) is not doing so well. A year-long rally took it from the low 30’s to the low 60’s, it formed a topping pattern, rolled over at resistance, broke support, bounced off of the next support, an on Tuesday it dropped another 1.85, and the low is now near 50. Look for it to test the Feb lows at 44 zone.
Harry has posted Charts of the Day video on YHOO at TheTechTrader site noting: Yahoo! Inc. (YHOO) had an excellent day on Monday, up 2.23, or 5.6%, on 75.3 million shares, and closed a penny off the high for the day. That’s the best close anyone could ask for. If it gaps up on Tuesday, it could run up to 45-46.
Harry has posted Charts of the Day video on JRJC at TheTechTrader site noting: China Finance Online Co., Ltd. (JRJC) had a good day on Monday, up 96 cents, or 11.6%, on 4.7 million shares. Notice the falling wedge. It popped out of the wedge on Monday. It looks like it’s headed up toward the 11-11 1/4 range short-term, and then 13 1/4 intermediate-term.
Harry has posted Charts of the Day video on DSKY at TheTechTrader site noting: iDreamSky Technology Limited (DSKY), a new issue, did well on Monday. It came down to test support last week, and then exploded on Monday, going from 21.90 all the way to 25.95, before it pulled back to 23.66, up 1.79, or 8%, on 3.2 million shares. There may be some resistance up ahead, and it may pull back and consolidate. Ultimately, we are looking at 27-28 as the target on this one.
Harry has posted Charts of the Day video on AMBA at TheTechTrader site noting: Ambarella, Inc. (AMBA) sure is looking good. It’s has been up nearly every day for two weeks. Friday was the big volume day, then a pullback, and Monday it followed through, up 2.02, or 5.47%, on 3.2 million shares. Unfortunately, I didn’t put a swing on this one. The long-term chart pattern shows it to be mid-channel at the 48-50 zone. We’ll have to wait and see if it does a curve up.