Harry has posted Charts of the Day video on TRAK at TheTechTrader site noting: Dealertrack Technologies, Inc. (TRAK), which I recently put on my list, because of the way it looks with a broken channel, a head-and-shoulder massive pattern, and a down channel that has formed, It dropped 1.56, or 4%, on 2.5 million shares. It’s sitting on a line of resistance at 37.57, and if it breaks there, it could head down to 30-31.
Harry has posted Charts of the Day video on NU at TheTechTrader site noting: Nu Skin Enterprises Inc. (NUS) is a stock I’ve been hocking short for weeks now. It finally rolled over and broke, bounced for one day, and rolled over again. It closed on a major, major line going back many, many years. If that’s broken, it could see 52 pretty quickly.
Harry has posted Charts of the Day video on OTEX at TheTechTrader site noting: Open Text Corporation (OTEX) had a great day on Thursday. It had a long channel up, a move up to the top of the channel, then to the bottom of the channel, and then some sideways action over the last few months was culminated with a little pop on Wednesday, and then a big breakaway gap on Thursday that ran up 7.21, or 14.9%, on 2.2 million shares, on a day when the Dow was down 300 points. Excellent relative strength. If it gets any kind of reversal in the next few days, and/or maintains its level, it could make it into the 62-64 range over the next couple weeks, providing there’s a good market. If it’s a lousy market, it may pull back to the 51 zone and retest. 53. There would be a stop if it dropped below that.
Harry has posted Charts of the Day video on SYMBOLGPRO at TheTechTrader site noting: GoPro, Inc. (GPRO) had a nice pop on Wednesday, up 2.25, or 5.1%, on 6.4 million shares. That’s still not the volume I’m looking for, but I’m anticipating 48-9 zone, which will get us up to fulfill our swing trade. In the last few sessions it’s gone from 41.23 to 46.34, which is about 5 points. It’s not getting too far ahead of itself, but at some point it may start to spike. It would not be surprising to see new highs in the low 50’s.
Harry has posted Charts of the Day video on BCRX at TheTechTrader site noting: BioCryst Pharmaceuticals, Inc. (BCRX) broke out of a little micro head-and-shoulders, with the head right on the trendline and price support. It appears as though this might break out above the double-triple top at 13.20, or so, at resistance. If so, the next target is up around the 15-6 zone.
Harry has posted Charts of the Day video on ARRS at TheTechTrader site noting:Arris Enterprises, Inc. (ARRS), one of our swing trades, has broken out again on Wednesday, up another 1.06, or 3%, on 2.5 million shares. More importantly, that’s the highest level reached in a long time. In 2000 this stock traded all the way up to about 61, but hasn't been back up there since. Let's see if it will reach the mid-channel target up around 39, and then the long-term target is at it's all-time high at 61.
Harry has posted Charts of the Day video on ANET at TheTechTrader site noting: Arista Networks, Inc. (ANET) had a good day on Wednesday, up 3.94, or 6%, on 608,100 shares traded. I really like this stock, and I’m probably going to put a swing on it tomorrow. Not only the falling wedge, or the falling channel was broken, but the lateral price support, held for three days. It was very narrow on Tuesday, very quiet on volume, and then boom, it broke out on Wednesday. The next target is up around the 72-3 range beyond that 77, and then we’ll see if it will retest the highs over 80.
Harry has posted Charts of the Day video on SNCR at TheTechTrader site noting: Synchronoss Technologies, Inc. (SNCR) had a big breakout on Tuesday, up 5.06, or 14.6%, on 1.9 million shares. It’s been in a big consolidation now for more than a year, and was broken with a thrust and a breakaway gap. It may very well be on its way to test the all-time highs at 48. That’s the next target if it breaks through 39.72 first.
Harry has posted Charts of the Day video on PCYC at TheTechTrader site noting: Pharmacyclics Inc. (PCYC) had a terrific day on Tuesday on very strong drug news. It broke out of a basing pattern, exploding 16.26, or 15%, on 4 million shares. That gets it right up to the key resistance zone at 124-25. If it gets through that, the next target is 144-45. It may back and fill first.
Harry has posted Charts of the Day video on MGM at TheTechTrader site noting:MGM Resorts International (MGM) popped on Tuesday on big volume, 12.7 million shares. I wanted to put a swing trade on this, but it backed off at the close, which is not a good way to finish when a stock breaks out. It has to back off one more time in order to spike up. Looking at the longer-term target, this has the possibility of being a 30-31 dollar stock.
Harry has posted Charts of the Day video on BIOF at TheTechTrader site noting:BioFuel Energy Corp. (BIOF) continues to move up. On Tuesday, it popped 67 cents, or 7.3%, on 18 million shares. Notice the strong volume the last five sessions. Also notice that this stock has been up for five consecutive days. Now, the key to Tuesday’s action is that a wedge may have broken out on 1.8 million shares. The spike high from 2012 is at 10 3/4. So the immediate target is 10 3/4, but this could be a very interesting stock making its way into the high teens and low 20’s.
Harry has posted Charts of the Day video on WDR at TheTechTrader site noting: Waddell & Reed Financial, Inc. (WDR) had a major uptrend going all the way back to 2012, then a massive top formation in March-April, it rolled over, formed a rising wedge that was broken, and now a bear wedge. This one looks lower, too. Look for 52 1/2 for the next move.
Harry has posted Charts of the Day video on SYMBOL MDSO TheTechTrader site noting: Medidata Solutions, Inc. (MDSO) looks like it’s about to crack. It formed a bear flag, then a bear wedge, and if it takes out the line of resistance, it could quickly come down to 32, and then maybe the high 20’s.
Harry has posted Charts of the Day video on LOCO at TheTechTrader site noting:El Pollo Loco Holdings, Inc. (LOCO) has been spectacular since its IPO on Friday. It opened at 18.48 on Friday, closing up 9.03, or 60%, and on Monday, it was up 10.45, or 43.5%, on 26 million shares, and reached as high as 34.73. If it continues to go higher, look for it to head up towards the high 30’s.
Harry has posted Charts of the Day video on GPRO at TheTechTrader site noting: GoPro, Inc. (GPRO), a new issue, popped in 5 waves on Monday, came down, based out, and popped again. It formed a wedge, which could set up a bullish move, and explode to test the all-time high recently reached at 44.83. Beyond that, we could see this stock run into the high 40’s.
Harry has posted Charts of the Day video on RKUS at TheTechTrader site noting:Ruckus Wireless, Inc. (RKUS) has had a chart of a lot of ups and downs, but lately, it’s been in an up-trend, and on Thursday, it was up 1.04, or 9.2%, on 2.5 million shares. If it can get up across the major declining topsline, this stock could make it into the 14 range short term, and then 16 intermediate term.
Harry has posted Charts of the Day video on JMEI at TheTechTrader site noting: Jumei International Holding Limited (JMEI) is another recent IPO that broke out on Thursday. It popped 1.84, or 6.5%, on 1.5 million shares. That’s the best volume in a few weeks. The breakout could mean a retest of the IPO high in the 32 range, which is the next target for JMEI.
Harry has posted Charts of the Day video on FB at TheTechTrader site noting: Facebook, Inc. (FB) had a huge day on earnings on Thursday, up 3.69, or 5.2%, on 123 million shares. It has had some very good moves over the last year, and it wouldn’t be a shock to see it get to mid-channel around 80-80 1/2 short term. That’s the next target. Beyond that, the potential is up in the 100 dollar range.
Harry has posted Charts of the Day video on DANG at TheTechTrader site noting: E-Commerce China Dangdang Inc. (DANG) came across two resistance levels on Thursday. Several highs were broken, it popped to 14.09, pulled back, and closed at 13.60, up 55 cents, or 4.2%, on 4.5 million shares. The volume started to increase, and this was the biggest volume on an up-day in five or six weeks. Let’s see if it will get a follow-though taking it to 15, and then, ultimately, a retest around the 17-18 level.
Harry has posted Charts of the Day video on RES at TheTechTrader site noting:RPC Inc. (RES) looked very good on Wednesday, up 1.92, or 8.35%, on 2.5 million shares. It has been in an up-channel all year, and the next target is 27 1/4-1/2.