ACM, CONN, MR, TUMI - Stock Charts to Watch
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We’ll take a look at the long side as we had many stocks that moved nicely on Tuesday, despite the daily rollover in the afternoon.
AECOM Technology Corporation (ACM) formed a little head-and-shoulder, and on Tuesday, it exploded through the neckline and through the moving averages, up 2.84 to 18.82, or 17.77%, on 3.2 million shares. When a stock gets that kind of thrust and breaks out, there is usually some kind of follow-through. Look for 21 short-term, and 24 as the secondary target.
Conns Inc. (CONN) had a good day on Tuesday. It made a big move earlier in the year, running from about 5.00 up to 18.00. It consolidated for 3-4 months, and spiked up on Tuesday, up 3.03 to 21.38, or 16 1/2%, on 1.2 million shares. The long-term channel shows that the top of that channel could be as high as mid-to-high 20’s, so look for a 25 to 28 dollar target.
Mindray Medical International Limited (MR) had a nice follow-through day on Tuesday. It popped across the declining topsline and had a surge of 3.61 to 34.96, or 11 1/2%, on 3 million shares. It looks like the triple top will be tested shortly up around 39-40, which is the short-term target on this stock.
Tumi Holdings, Inc. (TUMI) had a breakout, a breakaway gap, and popped 4.27 to 22.78, or 23% on 3.1 million shares on Tuesday. Nice volume for that stock. It looks like it may follow-through to 28.70 short-term.
Other stocks in our Charts for the Day are Amyris, Inc. (AMRS), Exterran Holdings, Inc. (EXH), First Solar, Inc. (FSLR), Homeowners Choice, Inc. (HCII), Multimedia Games Inc. (MGAM), Mitek Systems Inc. (MITK), REEDS, Inc. (REED), Rentech Nitrogen (RNF), Vringo, Inc. (VRNG).