Chart of the Day - Harry Boxer, TheTechTrader.com
by Harry Boxer, www.TheTechTrader.com
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Today I’m going to discuss a few interesting stocks on the long side and this weekend I’ll go over the Boxer Shorts.
Identity Solutions (ID) moved nicely yesterday and again today, taking out the declining topsline with a thrust, backed and filled over the course of the end January, early February, caused a little bit of a bull flag, had a nice price-volume surge, that’s taken it to 6-7 month highs, with a target up around 8 3/4 level, should be reached shortly. Secondary target up around 9 1/2 or so, which should be quickly reached, and if it takes out that level, then you can see a long line of resistance going back about a year and a half, which could lead to a move into the 11 1/2 range, my secondary target.
Integrated Silicon Solution (ISSI), a member of the Fab 40, has been flying as of late. It’s in a beautiful rising channel and at the top of its channel, and looks like it wants to break out and accelerate higher. Strong technicals, underlying Balance of Power, Money Stream and On-Balance Volume are all indicating strong accumulation and the stock could move higher. You can see that we’ve just moved above the ’07 highs and may have the ’05 highs up around 9 1/2 in sight. That’s my next trading target on ISSI going forward.
Pharmacyclics (PCYC), a beautiful short-term rising channel under way, a very powerful move. Great technicals, a little mini 3-day bull flag. If it breaks out to the upside I could see a quick move taking it to about 6 1/4 – 6 1/2, my short-term trading target.
Telestone Technologies (TSTC), which had broken down taking this stock back almost in half from 25.84 down to under 12.70. It consolidated for a couple weeks, formed a kind of wedge, but broke out today with a thrust right at the moving averages. If this extends we could see it retest quickly at the 19.50 - .70 zone, and beyond that we have a key breakout, so watch for that. But let’s first see if it can get across the 50-day moving average at 17 3/4 as early as tomorrow.
Be sure to view all of today’s extensive list of longs, which include China Agritech (CAGC), Cyclacel Pharmaceuticals (CYCC), Dendreon (DNDN), DSW Inc. (DSW) Key Tronic (KTCC), LeapFrog (LF), Micrus Endovascular (MEND), Momenta Pharmaceuticals (MNTA), NACG Holdings (NOA), Silicon Graphics (SGI), Tekelec (TKLC), Valassis Communications (VCI).
That’s it for today’s ideas. Have a good Friday tomorrow.
