AVD, JVA, MOBI, SREV - Stock Charts to Watch
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It was a very interesting day for the market on Thursday. The day started out pretty weak, but things turned around, especially after the Greece announcement, and the reversal sent many stocks sharply upward. We’re going to take a look at some new stocks as well as some that we’ve been following for awhile.
American Vanguard Corp. (AVD) had a big day on Thursday. It had a two-year base that had a little pop to it, then a consolidation right along the breakout point, and then an explosive move at the end of May, followed by a back and forth kind of trading range for about the last three and a half weeks. Thursday it popped 1.16 to 13.38, or 9 1/2%, on nearly a half million shares. That’s a lot of volume for that stock, the biggest volume this year. It’s accelerating to a point where it may go as high as 14 3/4 - 15 short-term, maybe even as high as 16. Beyond that the secondary target is around 18 1/2 - 19.
Coffee Holding Co.Inc. (JVA) is one of the best charts on Wall Street right now. It had an explosive pop in March that was a precursor to the spike up, then it come down, based out for a couple months, moved up to resistance, and backed off below the moving averages. But then it exploded from 7 to about 16, pulled back down in a 3-day flag, popped two more days, and then pulled back down for two days, and now it moved up again. Thursday’s high at 16.42 is a new high, the highest level it’s had in years, and it took out the all-time high set in 2005. The current pattern is very explosive, and a move out of it could get it quickly up towards the 20 - 21.
Sky-mobi Limited (MOBI) also had a big day on Thursday. That’s two days in a row, and it may have finally reversed. It had a big down move all the way from 23 down to about 5, but it’s back up now to 7.68. It closed at the high for the day, and the high for the move on the way, just a tad above the 21-day. Look for more upside to 8 1/2 - 8 3/4, maybe even as high as 9, before it gets a pullback, but this stock may make it back to the low teens.
ServiceSource International, In (SREV) is a stock we liked and talked about in early May. Over the last four weeks it’s been consolidating in a very tight channel. That was broken Thursday on 928,000 shares. That’s the biggest volume in about six weeks. It popped out, jumped 1.14 to 20.03, or 6%. Look for a test that takes out 20 3/4, and then a move into the 23 - 25 zone short-term.
Other stocks in our Charts for the Day are ADA-ES, Inc. (ADES), Ariad Pharmaceuticals Inc. (ARIA), Caliper Life Sciences, Inc. (CALP), EasyLink Services International Corporation (ESIC), Global Crossing Ltd. (GLBC), Golar LNG Ltd. (GLNG), Telecom Corp. of New Zealand Ltd. (NZT), Oncothyreon Inc (ONTY), Orsus Xelent Technologies Inc. (ORS), Pharmacyclics Inc. (PCYC), Qlik Technologies, Inc. (QLIK), Raptor Pharmaceuticals Corp. (RPTP), Seattle Genetics Inc. (SGEN), GT Solar International, Inc. (SOLR), ZAGG Incorporated (ZAGG).