AKRX, CSTR, LOCM, UPI Among Our Charts to Watch
by Harry Boxer, www.TheTechTrader.com
Be alerted when Harry posts an article
Today I will discuss a few stocks that appear to be looking very positive, as the market had a very good day today.
Akorn Inc. (AKRX) had a breakout in April from a base, followed by a little consolidation, a pop to secondary resistance, and then a consolidation for about 3-4 weeks. It's starting to edge out now above the trading range with a target right up around the 4.00 level coming up potentially.
Coinstar Inc. (CSTR), which broke out at the end of April, reached a new high in the 57 range, before the stock backed off. It is now coiling narrowly and quietly, but today surged 2.03. It may be breaking out of the apex of that coil at around 55. If it does, I'm looking for a move that could take it to the mid-60s, about another 10 points from where it is now.
Local.com Corp. (LOCM) had a big day today, popping 84 cents, or 11%, with a breakaway gap that took out the 10-, 21- and 50-day moving averages in one fell swoop. There is overhead resistance, which it backed away from today, up around the 8.80-.85 area. A move through that zone could get this stock up around 9 1/2-10, the short-term trading target, but ultimately the top of the channel beckons around the 14 level.
Uroplasty Inc. (UPI), a portfolio position, jumped 13 cents, or 2 1/2%, today, but certainly appears to be coming out of the apex of the coil that it's in. Target on this is 7 1/4 - 7 1/2 short-term, a couple points from where it is at right now.
Other stocks highlighted on Charts for a Day are Cirrus Logic Inc. (CRUS), Commercial Vehicle Group Inc. (CVGI), Delcath Systems Inc. (DCTH), GlobalScape Inc. (GSB), Mindspeed Technologies Inc. (MSPD), Neurocrine Biosciences Inc. (NBIX), OmniVision Technologies Inc. (OVTI), Universal Display Corp. (PANL), PROLOR Biotech, Inc. (PBTH), Questcor Pharmaceuticals, Inc. (QCOR).
