ARIA, ESIC, GLNG, XTXI - Stock Charts to Watch
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The market had it’s third consecutive solid session to the upside on Wednesday. We’re going to go over some charts that are looking quite good.
Ariad Pharmaceuticals Inc. (ARIA), which we’ve been following and recommending since the January pop, had a pullback consolidation that broke out in March. That lead to a move from 6 to nearly 12, more than doubling the last ninety days. It dipped a little in early June, but it snapped right back and moved from 7 1/2 to 11.86, and closed at the high for the day and the year on Wednesday. It was a very solid move and looks like it’s going to get up to the 12 1/2 - 13 range, which was set originally.
EasyLink Services International Corporation (ESIC), after the pop earlier this month and a pullback, and then a reversal, it moved up nearly every day. It has gone from 4.20 to the high on Wednesday at 5.82 in the last week and a half. Since this is the multi-year high going back about 10 years it may be completing a massive base pattern, which looks like it’s just been broken. This should lead, and can lead, to higher levels. Initial target is around 7 3/4 - 8.
Golar LNG Ltd. (GLNG) looks like it’s moving. It went up 1.51 on Wednesday to 35.03. That’s the highest close we’ve ever seen on this stock. A move across the 35 1/2 - 36 range is expected, and then the low 40s.
Crosstex Energy Inc. (XTXI), a swing trade of ours, popped last month, platformmed for a couple weeks, backed off, retested twice, held both the moving average and support, and then snapped back again on Wednesday, up 56 cents to 11.86, but got as high as 12, which is a phenomenal new high. Look for a move to take this stock to the top of the channel up around 15.
Other stocks in our Charts for the Day are Avago Technologies Limited (AVGO), Clean Diesel Technologies Inc. (CDTI), Endologix Inc. (ELGX), Elan Corp. plc (ELN), Global Crossing Ltd. (GLBC), GSV Capital Corp (GSVC), Interphase Corp. (INPH), Coffee Holding Co.Inc. (JVA), Melco Crown Entertainment Ltd. (MPEL), Nuance Communications, Inc. (NUAN), Orsus Xelent Technologies Inc. (ORS), Qlik Technologies, Inc. (QLIK), ServiceSource International, In (SREV).