Charts of the Day
Charts of the Day, published each evening Monday through Thursday, features technical analyst Harry Boxer's video chart analysis on key stocks in play.
CCL, CRR, MSTR, TGI Tue May 21st 2013
It was an interesting day for the stock market, ending on a positive note. However, even though the market hasn’t toppled yet, we’re going to take a look at both longs and shorts here.
Carnival Corporation (CCL) is not doing so well. After breaking down in January, it snapped back to resistance, and then broke down again and formed a wedge, moved back up in a rising wedge, only to reach the top of the parallel channel. On Tuesday, it broke downside, dropping 1.41, or 4.28%, on 22.
AMBA, FSLR, SCTY, YRCW Mon May 20th 2013
The stock market had a pretty interesting day on Monday. It was kind of sloppy, but a lot of stocks that we follow did well. The solar stocks were very strong. We’re going to stay with the longs for now, so let’s see what’s going on with them.
Ambarella, Inc. (AMBA) has had nice movement. It had a strong move up Nov-Jan, pulled back through Feb, and then moved back up again.
AEGR, EGLE, SCTY, UNXL Thu May 16th 2013
The stock market showed some signs of weakness on Thursday, but it didn’t break yet. The stocks we’re following are still doing well, so let’s take a look at some of those.
Aegerion Pharmaceuticals, Inc. (AEGR) went ballistic on Thursday, running to the top of the channel to the initial target, and then went crazy, up 14.73, or 32%, on 4.7 million shares. It started out in the high 40’s, ran up and wedged several times, formed a coiling-type pattern, and reached 63.
HIMX, RVLT, UNXL, YRCW Wed May 15th 2013
It was another interesting day for the market on Wednesday. There was an afternoon slide that looked pretty serious, but it came right back and closed positive. The technicals weren’t great, but nevertheless, the market keeps marching along, and until we get the break, we'll just keep plugging away at the long side, at least for now.
Himax Technologies, Inc. (HIMX) is doing wonderfully. The major trend is up. The channel is up.
AEGR, HIMX, RVLT, THRX Tue May 14th 2013
It is still a resilient market, and we’re still seeing a lot of stocks running. There’s no sense in focusing on the shorts just yet. There are some stocks that look negative, but at this point, until we see that break, we’ll continue to look on the long side.
Aegerion Pharmaceuticals, Inc. (AEGR) has been one of our swing trades and one of our favorites since it broke out in Oct-Nov.