AVD, INCY, TGAL, THRX - Stock Charts to Watch
It was another interesting day on Wall Street on Monday. All of the stocks that we follow are doing wonderfully. There were about 40 stocks that we could go over here because they are doing so well, but we narrowed them down to the ones to follow.
American Vanguard Corp. (AVD), which is one of our recent swing trades, didn’t quite work when it looked like it was breaking out up around 27.80. It backed off for a few weeks and continued a consolidation, but it is beginning to move again. On Monday, it was up 1.21, or 4.55%, on 258,000 shares. That put the stock in new high territory and now the long-term channel could very well start to surge, taking it into the low 30’s. It’s thinly traded, but it has beautiful technicals and a beautiful chart.
Incyte Corporation (INCY) had a key breakout on Monday, and a beautiful rising channel. It was up, wedged, ran up to resistance, went back down to support, then up to resistance again, formed a head-and-shoulders, and on Monday, it popped 2.14 to 24.84, or 9.4%, on 2.3 million shares. The top of the channel, now measuring around 27, is the short-term target.
Tegal Corporation (TGAL) had a big day on Monday. It has a declining topsline going way back. It broke the long-term down channel, and on Monday, it took out the double-top, and spiked 1.58 to 5.18, or 43.9%, on 700,000 shares, which is big volume for this stock, the biggest in 8 or 9 years. Look for it to get up around 7 1/2-3/4, maybe even as high as 8.00.
Theravance Inc. (THRX) had a good day on Monday, up 2.49 to 24.71, or 11%, on 1.3 million shares. It has a nice base form, a massive left-shoulder-head-right-shoulder, and good support. The short-term target on this one is 26, and then 29 going forward.
Other stocks in our Charts for the Day are Amarin Corporation (AMRN), Builders FirstSource, Inc. (BLDR), Glu Mobile, Inc. (GLUU), Horizon Pharma, Inc. (HZNP), Idenix Pharmaceuticals Inc. (IDIX), Immunogen Inc. (IMGN), Multimedia Games Inc. (MGAM), Nationstar Mortgage Holdings Inc. (NSM), Patrick Industries Inc. (PATK), Smart Balance, Inc (SMBL), Smith & Wesson Holding Corporation (SWHC), VirnetX Holding Corp (VHC), and VIVUS Inc. (VVUS).