ARNA, BVF, JKS, SPRD Amoung Charts to Watch
by Harry Boxer, www.TheTechTrader.com
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Arena Pharmaceuticals, Inc. (ARNA) is in a very strong uptrend, moving from 3.25 to 8.00 in the last five weeks or so. Recently, a little coiling bullish consolidation on low volume has taken place, and on Friday, and again today, the stock perked up on volume and new On-Balance Volume highs. This stock looks like it wants to continue higher in this channel. Target around 9 1/2 - 10 zone.
JinkoSolar Holding Co., Ltd. (JKS), a new issue which has really been spiking lately, broke through in early July, flagged right after that, ran up and pulled back in another little flag, and then moved straight up from 13 to 20 1/2 in the last week and a half. It's a bit ahead of itself perhaps, but with strong momentum, strongly rising OBV, and increasing volume and technicals, this one could make it to the mid-20s before too long.
Spreadtrum Communications Inc. (SPRD), a new portfolio position we added Friday, had an excellent follow-through day today on 2 1/4 million shares traded. It broke key lateral resistance around 10 1/4, and closed right up near the May high. A move through this level and I'm looking for 12 1/2 and 15 for Spreadtrum.
Other charts featured on Harry's Charts of the Day are China Agritech Inc. (CAGC), VocalTec Communications, Inc. (CALL), DigitalGlobe, Inc. (DGI), Ebix Inc. (EBIX), GeoEye, Inc. (GEOY), L-1 Identity Solutions Inc. (ID), IDT Corporation (IDT), Nanometrics Incorporated (NANO), Nova Measuring Instruments Ltd. (NVMI), OmniVision Technologies Inc. (OVTI), Polypore International Inc. (PPO), and Power-One Inc. (PWER).
