BEAT, CLDX, MSTR, RBC - Stock Charts to Watch
It was an ugly day on Wall Street on Tuesday and the trend is currently down, but a lot of our individual stocks are up, so we’ll take a look at some of the strength and some of the weakness.
CardioNet, Inc. (BEAT) had an exceptional day on Tuesday, gapping up at 4.68, running to 5.30, and closing at 4.99, up 1.78, or 55 1/2%, on 6.9 million shares. That’s the biggest volume for this stock ever. A long base pattern is developing. This stock, one time back in 2008, traded as high as 35. It came all the way down to the single digits in the 1 1/2 range. It popped out and coiled in May, then it popped out of the coil recently, pulled back and created a flag, and then on Tuesday, it exploded. It could take this stock to 6 1/4-1/2 range short-term.
Celldex Therapeutics, Inc. (CLDX) has been wonderful for us. It popped out of its containment range with a pop two days ago, and on Tuesday it got all the ay up to 16.01. There’s still a target at 17, it back off and closed at 15.53. We’ll see if it comes in at the top of the channel at 18.
On the Short Side….
MicroStrategy Inc. (MSTR) rolled over slow, and is down another 1.57. It’s at the lowest level in five weeks. If it does not hold near 86, this could get down to 80.
Regal Beloit Corporation (RBC) has a nice little head-and-shoulders, a big break away gap to the downside, and over the last five weeks, it formed a bear wedge. Look for it to test the lows at 56. Once it does, then look for something in the 62 range.
Other stocks on Harry’s Charts of the Day are Diamond Foods, Inc. (DMND), SemiLEDs Corporation (LEDS), MannKind Corp. (MNKD), Progenics Pharmaceuticals, Inc. (PGNX), Tuesday Morning Corporation (TUES), and The ExOne Company (XONE).
Stocks on the short side include Carnival Corporation (CCL), CARBO Ceramics Inc. (CRR), Northern Tier Energy LP (NTI), and Syngenta AG (SYT).