CROX, HANS, JAZZ, PANL - Stock Charts to Watch
There was a big rally on Wall Street on Tuesday. A lot of stocks snapped back, particularly some of the ones we watch closely. So, let’s take a look at some of the more interesting stocks that have promising patterns, or reversal patterns, that have held up very well during the decline.
CROCS Inc. (CROX) held up pretty well until the pullback in August. It bounced sharply on the first rally, came down and retested lateral price support and key support, and on Tuesday it exploded for 3.11, or 13%, on 3.5 million shares traded, and snapped back right at the moving averages. If the declining top is tested and taken out around the 28 1/2 area, it could eventually retest the 32 range short-term, and then on an intermediate range, perhaps, move up to the 35 - 36 range.
Hansen Natural Corporation (HANS) had a big day on Tuesday. For a high price stock it did extremely well, up nearly 5 points at 4.95, or 6%, on 2.5 million shares traded. It broke out of a beautiful 6 - 7 day flag, and followed the sharp thrust from two weeks ago. The flag held the moving averages, it broke out across the early July highs, and now it could lead to a 91 - 92 target.
Jazz Pharmaceuticals, Inc. (JAZZ) held up very well during the decline, but it pulled back, or bounced, and pulled back again at a higher level, then snapped back 3.27, or 9.6%, on 900,000 shares traded, and closed back above the 21-day and moving averages. A price-volume surge could get this stock running up to retest the highs at 43 1/2. That’s the short-term target. Secondary target is set in the high 40s.
Universal Display Corp. (PANL) had a very explosive day with a high volume follow-through on Tuesday. It had a big day on Monday, jumping 6.84, or 25%, and on Tuesday it jumped 5.90, or 17%. That was nearly twelve points in just two sessions, almost doubling in the last two weeks. It broke out of key resistance and may have triggered a new intermediate move. Look for this stock to make a move up toward the 40 - 50 range on a short- and intermediate-basis.
Other stocks in our Charts for the Day are Akorn, Inc. (AKRX), CVD Equipment Corp. (CVV), PowerShares DB Gold Double Short ETN (DZZ), (IDSY), MAKO Surgical Corp. (MAKO), Mistras Group, Inc. (MG), Merge Healthcare Incorporated. (MRGE), Pharmaceutical Product Development Inc. (PPDI), Sturm, Ruger & Co. Inc. (RGR), Research In Motion Limited (RIMM), TAAR Surgical Company (STAA), Susser Holdings Corporation (SUSS), ProShares UltraShort Silver (ZSL).