AMD, CSIQ, KNDI, YGE - Stock Charts to Watch
The stock market was up sharply at the opening on Monday, and came down sharply because of rumors of perhaps tapering off. It curtailed somewhat and the market rallied back up to close nicely on the day. So the market still hasn’t broken down, and continues to look resilient. There are still a lot of stocks that look good so let’s take a look at some of those.
Advanced Micro Devices, Inc. (AMD) popped out of a wedge, only to close back on Monday. It was up 11 cents, or 2.8%, on 31.9 million shares. It does look like it may be merging. A swing trade was put on it, which may have been a little premature, but we may be catching it at the beginning a move. A move like that, and this stock could double up to 8. That’s the secondary target. The short-term target is set at 6.00
Canadian Solar Inc. (CSIQ) did well on Monday. We put out a swing trade it one on Monday, although solars may not be ready. They’re acting like they don’t want to go down much. As a result, the coiling pattern was broken with a pop of 72 cents, or 7.66%, on 3 million shares. Let’s see if this one stands past the spike high and reaches the 10.65 high from back about three weeks ago. If it gets through that, we could see it spike into the 15-16 area, maybe even as high as 17. It could be a big mover, and that’s why a swing trade was put on it.
Kandi Technolgies Group, Inc. (KNDI) had a big snapback day on Monday. After the big pop last week, and then the 4-day pullback, it snapped up on a breakaway gap on positive news on Monday, up 1.52, or 24%, on 11.3 million shares. That’s the second biggest volume ever. It’s hasn’t gotten to the highs yet, so let’s see if it will get to 8 1/2 and then run it up to about 10-10 1/4, which is the next target on this one. Keep an eye on Monday’s low at 7.11. Underneath that could be dangerous for this stock, but right now there’s momentum on this one.
Yingli Green Energy Holding Co. Ltd. (YGE) is another solar energy stock that did great on Monday. It popped out of a falling wedge, up 38 cents, or 13%, on 11.5 million shares. That was the second biggest volume in months. It may follow through. Short-term resistance is at 3.54-5, and 3.70. If it gets through there it can test the high again just under 5.
Other stocks on Harry’s Charts of the Day are Ambarella, Inc. (AMBA), BioScript Inc. (BIOS), 8X8 (EGHT), iRobot Corporation (IRBT), NXP Semiconductors NV (NXPI), Nexstar Broadcasting Group, Inc. (NXST), Qihoo 360 Technology (QIHU), and SunPower Corporation (SPWR).