BWOW, IDCC, MAKO, VRTX - Stock Charts to Watch
Wall Street had one of the biggest rallies ever on Tuesday, especially in the last seventy-five minutes when the Dow rallied 635 points. The S&P 500 was up 135 points and the NDX up 70 points. It was a monster rally, and closed at the high for the day going away. That could have been an important bottom, so we’ll see what the market gets in terms of follow-through.
Wowjoint Holdings Limited (BWOW) had one big day last month when it popped, followed through the next day, and then went to a three week downtrend, which actually retested the June low. Tuesday it exploded for 90 cents, or 70%, on the biggest volume in three weeks, and broke out of the down channel. We’ll see what kind of follow-through it gets. Tuesday’s high of 2.42 should be watched for a potential move up towards the 2.80 area, and then around the 3.40 area.
InterDigital, Inc. (IDCC) broke out on Tuesday, exploded toward 72, reaching 71.92, closing just 19 cents off the high, up 7.75 to 71.70, or 12%, on 3 million shares. If there’s any kind of follow-through here, It could move up to the 80 - 82 zone short-term.
MAKO Surgical Corp. (MAKO) is a stock we love, and has been on the Top 25 list for months. It finally topped out when the market did, rolled over hard, and went from 32.80 to 21. On Tuesday it gapped up, exploded, and ran on solid earnings, up 7.47 to 28.88, or 34%, on 3.7 million shares traded. That was the biggest volume in many years. It had a big spiked out reversal, closing at the 21-day moving average. If it gets a follow-through, short-term resistance is around 30, followed by 32, and then 35.
Vertex Pharmaceuticals Incorporated (VRTX), a favorite of ours, came down hard from the 52 1/2 range to 39 in just about six days. On Tuesday it snapped back 4.45, or 11%, on 4.3 million shares traded. It’s right at resistance, and if there’s a follow-through, the next target is set at 47 1/2, followed by 50 - 51.
Other stocks in our Charts for the Day are Caribou Coffee Company, Inc. (CBOU), CROCS Inc. (CROX), Jazz Pharmaceuticals, Inc. (JAZZ), Coffee Holding Co.Inc. (JVA), Luminex Corporation (LMNX), Marchex, Inc. (MCHX), Molycorp, Inc. (MCP), Mitek Systems Inc. (MITK), SodaStream International Ltd. (SODA), VirnetX Holding Corp (VHC), ZAGG Incorporated (ZAGG).