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.
Charts of the Day - Harry Boxer, TheTechTrader.com
Today I’m going to talk about some stocks that had some significant technical moves Monday. Kandi Technolgies Corp. (KNDI) recovered with a bang today after deteriorating dramatically in January having dropped from nearly 7.00 down to just above 3.00, cut nearly in half. The stock bounced, pulled back, popped a little on Friday and today really took a nice move up to reach 5.89 before backing off to 5.57.
Charts of the Day - Harry Boxer, TheTechTrader.com
There was some strong action Thursday. Let’s highlight some of the stocks. Abercrombie & Fitch Co. (ANF) had a very big day. After releasing earnings it popped 5.28. It gapped up to near 40, backed off to 39, and jumped to 41.68, closing right near the high for the day, a very important technical day. The chart shows a bottoming type pattern, then consolidation.
Charts of the Day - Harry Boxer, TheTechTrader.com
A new stock we initiated today, China Wind Systems (CWS), broke out of a wedge pattern at the apex of a coil at the 5.32 area, popped, took out the mid-February high, jumped 60 cents at one point and closed up at 40 cents, or 7 percent. Notice the volume was about the heaviest in about 5 weeks. A significant day may have occurred here if we get a follow through.
Charts of the Day - Harry Boxer, TheTechTrader.com
The market started off the week on a positive note and several of our stocks and some of the ones we have been following had a significant day today. Let’s point out a few of them. Atlas Pipeline (AHD), which we’ve been watching for awhile, broke out of a long coil in December, exploded from about 3.35 more than doubling in about a week.
Charts of the Day - Harry Boxer, TheTechTrader.com
Today I’m going to go over the longs in our portfolio and give you an update on what’s going on technically with them. Starting off with Astrotech Corp. (ASTC), a nice channel underway calls for a move that takes this into the 7-8 zone on a longer-term basis, which is about triple where it is right now. Short-term, the Sept–Oct highs up in the 3.60–4.00 zone would remain the short-term targets with some additional overhead resistance just above that around 4 1/4.
