ARNA, ASYS, CALL, NANO, NXTM and SOLR Among Charts to Watch
by Harry Boxer, www.TheTechTrader.com
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Arena Pharmaceuticals, Inc. (ARNA) had a strong 6-week run from June to the end of July, when it rallied from about 2.90 to 8. Then it went into a nice consolidation, an orderly flag-type pattern that has brought this stock back a bit. It does look like it's set up for higher levels, and Monday advanced 42 cents today, or 6.3%, on 9.2 million shares. A move across the declining topsline and out of this pattern would augur well for further upside, particularly a move that crosses the 7.40 -.50 area. Minor resistance is at 8, but beyond that this stock looks like it could spike up toward that 9 1/2 - 10 range, our short-term trading target.
Amtech Systems Inc. (ASYS) had a significant day, up 58 cents on surging volume surged. The stock is up against the Jan highs here, and a break through that could accelerate the move. Trading target at 17, multi-year lateral price resistance.
VocalTec Communications, Inc. (CALL) has a very powerful short-term pattern. This stock is the result of a merger of two firms that have reverse-split and seen this stock spike up. After that occurred, a nice bullish coil occurred, with a low-volume ebb, The stock accelerated from about the mid-teens up to 30 in just a few days, backed off to test the previous high, reversed Friday, and popped another 1.75 today, although at one point, it was up about 4 1/2 points. Look for the potentiality of a move over 30. If that does occur, perhaps a spike-up to the mid-30s, or higher, could take place.
Nanometrics (NANO) is setting up in a beautiful flag pattern. The overall consolidation after the big run-up is a base for higher levels, and the stock could explode here and run to 15 short-term. Beyond that, 18 is our secondary target.
Nxstage Medical, Inc. (NXTM) had a key breakout today out of a 3-week coil, surging 96 cents, or 6%, on 750,000 shares. It looks like the top of the channel near 20 is in play. We'll set that as our trading target, perhaps even as high as 21.
GT Solar International, Inc. (SOLR), which broke out of a flag today, popped 56 cents, or 7%. Volume picked up as well, the best in a week. It looks like it may make a run at the 9 level as early as tomorrow. If that's taken out, a secondary move up around the 12 - 12 1/2 range may be doable.
Other stocks highlighted on Charts of the Day are Amtech Systems Inc. (ASYS), Biovail Corporation (BVF), China Marine Food Group Limited (CMFO), GeoEye, Inc. (GEOY), Isilon Systems, Inc. (ISLN), Kraton Performance Polymers Inc. (KRA), Nanometrics Incorporated (NANO), Polypore International Inc. (PPO), Radcom Ltd. (RDCM).
