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 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.
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.
Harry has posted Charts of the Day video on YY at TheTechTrader site noting:YY Inc. (YY) has been bucking up against the key-resistance level, but it did break out above it on Thursday, up 3.37, or 1.8%, on 3.3 million shares. That’s the best volume on an up-day in three weeks. If the market starts to move up, and this stock begins to move, the targets are 108-110. If there’s any follow-though on Friday, this stock should hit its target.
Harry has posted Charts of the Day video on TASR at TheTechTrader site noting: TASER International Inc. (TASR) has had some interesting action. It had a pop in mid-Aug, a break through the moving averages, consolidated, had a sharp reversal on Wed, and then a breakout on Thursday, up 81 cents, or 4.8%, on 7.6 million shares. That was the biggest volume on an up-day in seven or eight weeks. It didn’t close well. It does have a double top at the 18.25-.35 area, but it reached 18.39 in after hours. If it gets through here and runs on Friday, it could see 19 1/2-20, and maybe even a test of the Feb high at 20.83.
Harry has posted Charts of the Day video on JCP at TheTechTrader site noting: J. C. Penney Company, Inc. (JCP) has an interesting chart, with a massive base that has broken out, it formed a rather large wedge that it exploded through, retested, topped up, retested, and on Thursday, it was up another 53 cents, or 5.27%, on 30 million shares. It reached a high of 11.28, a nominal new high over 11.24, but closed at 11.18. Still, it was a decent day with good volume. If there’s a follow-through on Friday, the target is 12 1/2.
Harry has posted Charts of the Day video on AMBA at TheTechTrader site noting: Ambarella, Inc. (AMBA) has a nice long-term chart, and looks like that from Jan until now it has created a left shoulder-head-right shoulder, and it comes up to the neckline. This stock ran all the way up to 39 3/4 on strong earnings report, and then it drifted lower, and closed at 38.08. It’s still up 2 1/2 points. Let’s see what happens. It wouldn’t be surprising to see this one breakout to the low 40’s short-term.wedge
Harry has posted Charts of the Day video on INFI at TheTechTrader site noting: Infinity Pharmaceuticals, Inc. (INFI) had a very big day on Wednesday, up 4.51, or 44%, on 17 million shares. It struck two major deals, including a payment of $250 million on every on every half, which is huge. You can see the declining channel, which was broken out with a major, major move on Wednesday. I suspect this stock could go as high as 18-18 1/4 and then 23 1/2. A stock like this with nearly 18 million shares traded usually works its way higher.