AMSC, URI, STMP, VPHM Among Charts to Watch
by Harry Boxer, www.TheTechTrader.com
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The market had a great day on Wednesday, so we’ll continue look at stocks on the long side with the market going ahead. We may get a top any day now, but we’re not going to go over the Boxer Shorts until we see evidence of that happening. There’s just too many stocks breaking out, and too many stocks basing out for us not to take a look at some of the those.
American Superconductor Corporation (AMSC) had a big day on Wednesday. The declining topsline was broken a few days ago, but the stock never thrusted. On Wednesday, the volume increased to 4 million shares traded, and it jumped 1.20 to 5.55, or 27 1/2%, and had a clean breakout. There was some minor resistance, but that was taken out on Wednesday. It looks like it could run up to 6 1/4, or thereabouts, short-term.
United Rentals, Inc. (URI) is looking good as it had a significant breakout on Wednesday. It took out the February-April double-top with a thrust, jumping 2.93 to 34.77, or 9.2%, on 6.5 million shares. Look for a move up towards 38 short-term.
Stamps.com Inc. (STMP) continues to look good after breaking out four days ago. The last two days have been quiet, inside days on low volume. On Wednesday, it popped 2.13 to 30.83, or 7.4%, on nearly 900 million shares. If it can get through Wednesday’s high around 34, this stock has a chance at getting up to 40.
ViroPharma Inc. (VPHM) had a big day on Wednesday. A rising flag broke to the up side, causing this stock to jump 1.38 to 30.85, or 4.7%, on nearly 3 million shares. Even though it’s at the top of the channel long-term, it can still thrust and accelerate into the high 30‘s, or even the low 40’s.
Other stocks in our Charts for the Day are ACADIA Pharmaceuticals Inc. (ACAD), Smith Micro Software, Inc. (SMSI), Cheniere Energy, Inc. (LNG), OraSure Technologies Inc. (OSUR), Amarin Corporation plc (AMRN), Progenics Pharmaceuticals Inc. (PGNX), Micron Technology Inc. (MU), RAM Energy Resources, Inc. (RAM), Idenix Pharmaceuticals Inc. (IDIX), Zhongpin, Inc. (HOGS), Celldex Therapeutics, Inc (CLDX), Titan International, Inc. Commo (TWI), Cogent Communications Group, In (CCOI).
