BORN, BSDM, HAUP and STV Among Charts to Watch
by Harry Boxer, www.TheTechTrader.com
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We start out today with China New Borun Corporation (BORN), which is a fairly recent new issue. It came out at 7 1/2, then dropped down under 5, doubled-bottomed, and then finally took off in late July. From around 4.77, it reached 9.55 today, or about doubling in the last 3 or 4 weeks. Momentum is very strong, as seen on the chart. Today it was up another 98 cents, or 11.6%. The volume is the heaviest since the IPO day. It certainly looks like this has more to go. We’ll look for something up around the 11-12 range short-term.
BSD Medical Corp. (BSDM) had an exceptional day today, exploding for 161% on news of a licensing deal. It gapped up 1.60, then ran up as high as 3.58 before settling back. It was still up 1.82 on 27 million shares today, by far the biggest day in the company’s history.
Hauppauge Digital Inc. (HAUP) had a significant day today technically, breaking out late in the session and breaking across two-month resistance. Secondary resistance at 3.88 is my near-term target. If that’s taken out with any kind of volume, we could reach 4.85 very quickly to retest the spike high in May.
China Digital TV Holding Co., Ltd. (STV) had a significant day, as it gapped above its short-term base, ran up 57 cents, or 9%, and tested higher levels at 7.15 before backing off. A move through the 7.15-.25 zone gets it to 8.15. That is a much more significant level because it represents about a year’s worth of resistance. Beyond that I’m looking for a move to around 10, and then 12.
