ANAD, CIGX, SILN, VG Among Our Charts to Watch
by Harry Boxer, www.TheTechTrader.com
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We have a lot of tech stocks are on our charts today. The first is Anadigics, Inc. (ANAD), a low priced semi-conductor stock, which had a significant technical session. Its 2-month declining channel was tested yesterday. Today it gapped up through it taking out the declining topsline and 20-day moving average, and also blew through price resistance and the 50-day moving average as well, closing just a penny off the high for the day on 3 million shares, the heaviest volume in months. It’s right there at 4.82, the next resistance level, and if that’s taken out we expect a test of the 5 1/2 area soon. That’s our next trading target, but on the long-term chart the lateral price resistance goes back to a couple years and could lead to more price movement. Targets are 6 3/4 short-term and 8.00 intermediate-term.
Star Scientific, Inc. (CIGX) had a significant technical session in that after breaking the declining channel since April and firming up today, it exploded through lateral price resistance and its 50-day moving average, closing a penny off the high for the day, up 20.6%, That’s a significant day with heavy volume accompanying it and technicals surging. Moving averages have crossed over and curled up, and now we’re getting additional headway. If it can take out the 2.04-.05 zone tomorrow, which is the next resistance, we could see a quick move that takes us up towards 2.35, but if that’s taken out, perhaps a test of the 3 1/2 range near the April highs may be in order.
Isilon Systems, Inc. (ISLN), a member of our Fab 40, having moved from under 2.00 to the 15 range, settled into a quiet consolidation over the last couple months, but today started moving. It jumped 94 cents, or 7 1/2%, and appears that a test of the declining topsline right at around 14 may be due as early as tomorrow, but what I’m looking for is a projected move toward 17 1/2 range, my short-term trading target.
Vonage Holdings Corporation (VG) had a significant day today, jumping 29 cents or 12% on 16 million shares. More importantly, it took out lateral price resistance that’s goes back three years. Secondary target is up around 4-4 1/2 range and that’s what we’ll be looking for.
Other stocks featured on Harry’s Charts of the Day are Acme Packet, Inc. (APKT), Cirrus Logic Inc. (CRUS), FSI International Inc. (FSII), L & L Energy, Inc. (LLEN), Neurocrine Biosciences Inc. (NBIX), OmniVision Technologies Inc. (OVTI), Uroplasty Inc. (UPI).
