BOOM, DGI, INT, NATR - Stock Charts to Watch
The market had a big snapback rally on Wednesday. It was extremely overdue since the market was extremely oversold. It was down eight consecutive days, and threatening to be nine this morning when it was down steep. A lot of stocks reversed and the longs we reviewed Tuesday night did well. We’re going to take a look at some of the stocks that we like that are also doing pretty well.
Dynamic Materials Corp. (BOOM) is one of our old favorites. It had a big day on Wednesday as they blew out earnings. They sky rocketed 4.32 to 24.10, or 22%, on 385,000 shares traded. That’s the biggest volume since February. With this kind of price volume surge to the declining topsline and up through the early July high, it could carry forward to test the 25 1/2 area as quickly as Thursday. If it does get through that, look for a retest of the highs up around 29 1/2 short-term, and an intermediate target up around 34.5.
DigitalGlobe, Inc. (DGI) jumped 2.09 to 26.53, or 81/2%, gapping up from Tuesday’s down day and moving right up to the July highs. Wednesday’s high was 27.42 and it backed off, but if it gets through that, it could move up to test 29 short-term, with a secondary target up around 31 - 32.
World Fuel Services Corp. (INT) also had a significant pop on earnings Wednesday, up nearly 4 points, or 11% on 1.9 million shares traded, which is huge for this stock. It hasn’t traded this many shares since May. It took out the declining topsline and is challenging the highs up around the 41, the 42 area being resistance. If it gets through there, look for something in the 44 - 45 range.
Nature’s Sunshine Products Inc. (NATR) had a big day on Wednesday, popping 3.69 to 19.50, or 23%, on 195,000 shares. That’s the second heaviest volume in the last couple months. Overhead resistance is at about 20.50 - 20.60. It reached 20.10 on Wednesday and backed off. However, if it gets through that area, and that’s an area we want to watch, look for an explosive move that’s takes it up to the 23 - 24 zone short-term.
Other stocks in our Charts for the Day are Akorn, Inc. (AKRX), Cambrex Corporation. (CBM), Datalink Corp. (DTLK), InterDigital, Inc. (IDCC), j2 Global Communications, Inc. (JCOM), Coffee Holding Co.Inc. (JVA), Mitek Systems Inc. (MITK), Quepasa Corp. (QPSA), Rex Energy Corporation (REXX), SuccessFactors, Inc. (SFSF), Silicon Image, Inc. (SIMG), Sino-Global Shipping America, Ltd. (SINO), TAAR Surgical Company (STAA), ZAGG Incorporated (ZAGG).