Harry has posted Charts of the Day video on FARO at TheTechTrader site noting: FARO Technologies Inc. (FARO) continues to get whacked down very, very sharply, down another 1.04 to 39.83, or 2.5%, and actually took out the lows from mid-2014. I would not be in a rush to shore this one either. I would have to see more rebound with a bear flag.
Harry has posted Charts of the Day video on CORE at TheTechTrader site noting: Core-Mark Holding Company, Inc. (CORE) is looking pretty ugly. It’s still coming down. On Thursday, it was down 1.03 to 52.71, or 2%. When a stock is flat like CORE, and can’t even get a rising wedge from a lateral flag because it’s that weak, it usually extends lower. It looks like it’s getting close to a support level at the bottom of the channel. I wouldn’t be in a rush to shore it, it’s awfully weak.
Harry has posted Charts of the Day video on GLUU at TheTechTrader site noting: Glu Mobile, Inc. (GLUU) had a spectacular earnings report and another deal. It gapped, ran hard on 40 million shares. That may be the biggest volume this stock has ever had, exploding 1.36 to 6.76, or 25%. It’s one of the percent-gain leaders. There’s a distinct possibility that it will see 7.60-.65 going forward before a pullback.
Harry has posted Charts of the Day video on CRR at TheTechTrader site noting: CARBO Ceramics Inc. (CRR) was on the short list for quite some time. It broke down back in August, bear-flagged, came down in 7 waves, based out, and then broke out on Thursday, up 6.70 to 44.23, or almost 18%, on 2.3 million shares. With 10 days to cover, it looks like it’s going to extend and squeeze up towards 52 short-term.
Harry has posted Charts of the Day video on RENT at TheTechTrader site noting: Rentrak Corporation (RENT) is coming down steadily. On Wednesday, it was down 14 cents to 48.37. The move down has taken out a line of resistance. It may test 43 1/2 at support. Beyond that look for it to run down to the mid 30’s.
Harry has posted Charts of the Day video on RCL at TheTechTrader site noting: Royal Caribbean Cruises Ltd. (RCL) is collapsing. After the breakaway gap, a little, minor bump for a couple days at support, it rolled over, down another 1.47 to 68.61. The targets are 65, and then 60.
Harry has posted Charts of the Day video on EGHT at TheTechTrader site noting: 8x8 Inc. (EGHT), one of our swing trades, is acting very nice. It has a left shoulder-head-right shoulder, massive, big base pattern that goes back to last June. The recent run-up and wedge broke out on Wednesday, with a pop of 24 cents to 9.10, or 2.7%, on 615,000 shares traded. Not enough stocks to get super excited, but if it can get above the 9 1/2 level, then it could run to 11 1/2-12, maybe 13.
Harry has posted Charts of the Day video on CJES at TheTechTrader site noting: C&J Energy Services, Inc. (CJES) has a beautiful left shoulder-head-right shoulder break out of the base, pullback retest. It was a perfect pullback right through a line of support, the 21-day moving average, and is holding above the 50-day. It had a snapback on Wednesday that took it up 1.75 to 16.59, or 9%, on 3 million shares. If it can get through resistance, this stock could reach up to the –term.21 level short-term.
Harry has posted Charts of the Day video on TASR at TheTechTrader site noting: TASER International Inc. (TASR) closed up 52 cents to 28.89, or 2%, on 3.1 million shares on Tuesday. This stock, along with Digital Ally Inc. (DGLY), popped on problems in Baltimore. This still appears to be a 32-33 dollar stock short-term, and the longer-term target is 39-40.
Harry has posted Charts of the Day video on SZYM at TheTechTrader site noting: Solazyme, Inc. (SZYM) is one of our swing trades, up 16 cents to 3.93, or 4.24%, on 631,700 shares traded on Tuesday. It popped out, pulled back, has been consolidating the last 6-7 sessions, and even though it did reverse from 3.70 to 3.96, I would like to see it get to 4.06 with volume, and then take out 4 3/4, before it gets to the target at 5 1/2.
Harry has posted Charts of the Day video on FCX at TheTechTrader site noting: Freeport-McMoRan Copper & Gold Inc. (FCX) had a coiling base, it broke out, retested the moving averages, while they turned around and moved up, and then on Tuesday, it finally broke through the 21.90 resistance level, closing at 22.68, up 86 cents, or 2%, on 3.2 million shares. It may very well test 23.89-90, before it pulls back, if it pulls back. Momentum could take this to 27.00, the swing trade target.
Harry has posted Charts of the Day video on BAS at TheTechTrader site noting:Basic Energy Services, Inc. (BAS), which we’ve taken a look at several times, has broken out of a base, and looks like it wants to go higher. On Tuesday, it closed at 9.35, up another 49 cents, or 5.5%, on 4.6 million shares. At this point, it looks like a 12-dollar stock. That’s the next target.
Harry has posted Charts of the Day video on WFT at TheTechTrader site noting: Weatherford International Ltd. (WFT), after a big drop last August, a head-and-shoulder formed, it rolled over, created a 5-wave decline, an inverse head-and-shoulder formed with and up-sloping neckline. If it’s a rising channel it’s at resistance, both the top of the channel and laterally. It was up 84 cents to 14.21, or 6%, on 36 million shares. That’s huge volume. With that kind of a thrust, there’s a possibility of a breakout and run-up to the next target, which comes in around 17, maybe as high as 18 from the Oct snapback highs.
Harry has posted Charts of the Day video on VDSI at TheTechTrader site noting: VASCO Data Security International (VDSI) had a swing put on it on Thursday. This stock, along with FEYE and CYBR in the cyber-security sector, are a strong group going forward. VDSI held support and bounced on Thursday, up 52 cents to 26.03, or 3.7%, on 10 million shares. It needs to get through 26.85 on volume, and then it could be on its way to 30-31.
Harry has posted Charts of the Day video on SKX at TheTechTrader site noting: Skechers USA Inc. (SKX) had a monster earnings report and a breakout on Thursday, exploding 11.03 to 86.87, or 14 1/2%, on 5.6 million shares. That’s the biggest volume we’ve ever seen on this stock, but it does come on a key-breakout day. A lot of times when there is this type of pattern, it has a run-up to the next parallel line. Look for this to extend in the next few days and reach closer to 93-95.
Harry has posted Charts of the Day video on SFUN at TheTechTrader site noting SouFun Holdings Ltd. (SFUN) was up 84 cents to 8.56, or 9.5%, on 18.3 million shares on Thursday. It has a great pattern structure, left shoulder-head-right shoulder, it broke through the declining-topsline neckline, and spiked up to resistance. It could very well get some resistance in here and pull back, but the 8 3/4 to 9 3/4 zone may create some pull back. It does look like a set-up for higher levels. The targets are 11 and 13.
Harry has posted Charts of the Day video on WB at TheTechTrader site noting: Weibo Corporation (WB), which exploded out of a base pattern on Wednesday, jumping 1.56 to 16.09, or 10.7%, on a solid 1.4 million shares. This move takes it out of a wedge. We’ll see if it will extend. The next target has to be upward near the 18-19 zone, maybe as high as 20.
Harry has posted Charts of the Day video on GBSN at TheTechTrader site noting: Great Basin Scientific, Inc. (GBSN) exploded early on, and then late in the day it backed off. With this kind of a 3-day move where on the first day it popped out of wedge and then pulled back, the same may be the case here. It did break out of a wedge on Wednesday, up 1.44 to 4.98, or nearly 41%, on 16.6 million shares, which is monster volume for this stock, but there were only about 8 million shares outstanding. For the most part, there is a potential extension if there is any kind of follow-through whatsoever. The target is up near 9.00.
Harry has posted Charts of the Day video on DEPO at TheTechTrader site noting: DepoMed Inc. (DEPO) is moving along pretty good, up 65 cents to 27.14, or 2.5%, on 1.3 million shares on Wednesday. It had 5 waves up. It’s in the middle of the 5th wave, and it looks like it could extend. Right now, a minor support level comes in where the previous high and pullback occurred. If you’re in it, you will want to keep a stop under 25.50, and on the upside 31 is the potential target.
Harry has posted Charts of the Day video on CMCM at TheTechTrader site noting: Cheetah Mobile Inc. (CMCM) is one of our swing trades. The bottom head-and-shoulder’s pattern is very nice. It popped, formed a wedge, and on Wednesday, it moved from 21.90 to 23.86, closing at 23.51, up 1.74, or 8%, on 1.7 million shares. That’s the biggest volume in a week and a half. You may very well be seeing the emergence of this stock, or at least a retest of 25 1/2-3/4. If it gets through that, this is a 30-dollar stock potentially.