CAB, PCS, S, SWI, XNPT - Stock Charts to Watch
The stock market had a excellent day on Thursday. A lot of our stocks did very well, and it was a great trading day. We’ll take a look at some stocks on the bullish side, or long side, here and see what’s up with each of them.
Cabela's Inc. (CAB) had an important breakout on Thursday. It has a nice rising channel that has gone from under 19 all the way up to the 40’s. It broke through resistance on Thursday, up 5.68 to 44.91, or 14.4%, on 2 million shares. It looks like it may be headed up toward 50, the next trading target.
MetroPCS Communications, Inc. (PCS) had a big thrust on Thursday, up 2.31 to 8.59, or nearly 37%, on 32.6 million shares. The moving average and chart pattern has come down, then it ran up, and consolidated along the moving averages after breaking out across a support line. It held that, pulled back, consolidated again, and broke across key resistance on Thursday. With the kind of thrust it had, and breaking out across the line of resistance at 8.45, closing above it as well, look for a follow-through. A follow-through should get it up to test the declining topsline around 9 1/4–1/2. Secondary target is set at around 10 1/4, intermediate target up around 12 1/2.
Sprint Nextel Corp. (S) had nice movement on Thursday. It has a major base that goes all the way back to October 2011 to May of this year. The stock started to make an important move, going from 2.30 up to Thursday high of 4.12. Thursday’s action, in particular, took it out above key resistance zone, with a breakaway gap and a strong move, up 68 cents to 4.05, or 20%, on a whopping 304 million shares. That's the biggest volume this stock has ever seen. For that matter, it’s the biggest volume seen by any stock in years. It looks like its next move will be up around 4.58. We’ll see where it goes from there.
SolarWinds, Inc. (SWI), one of our favorite stocks of the year, had appeared as though it had broken down over the last few days. It came down and held without breaking the trend line. On Wednesday, it spiked up and broke out, and then on Thursday, it followed through, up another 3.43 to 52.91, or 7%, on 2.8 million shares. A test of the top of the channel at 59 is coming up.
Xenoport, Inc. (XNPT) had been trending beautifully from about 3 3/4 to about 7 1/2. On Thursday, it spiked 1.61 to 8.40, or 23.7%, on 3.2 million shares. It was a big day for that stock. The key to Thursday’s action was 2-year resistance has broken out, and it may very well move up to the 10-10 1/4 zone, which is the next trading target.
Other stocks in our Charts for the Day are Amarin Corporation (AMRN), AOL Inc. (AOL), Cynosure, Inc. (CYNO), DigitalGlobe, Inc. (DGI), MPG Office Trust, Inc. (MPG), Precision Drilling Corporation (PDS), Synta Pharmaceuticals Corp. (SNTA), and Wizzard Software Corporation (WZE).