Chart of the Day - Harry Boxer, TheTechTrader.com
by Harry Boxer, www.TheTechTrader.com
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These are the stocks for today.
China Agritech (CAGC), one of the strongest Chinese stocks out there right now. After breaking out of this down channel in January, it stair-stepped its way up, formed a flag, and in the last two days it gapped up each day and moved sharply, moving 2.10 yesterday, 1.75 today. That’s nearly four points just in the last couple sessions. Top of the channel measures up around 25 3/4. This is all time high territory. Technicals and volume are surging. Stock continues to look great.
Cyclacel Pharmaceuticals Inc. (CYCC), added to our portfolio today, is coming out of this consolidation pattern. You can see volume thrusting, technicals curling upwards. Although it didn’t have a great close today it traded 13.7 million shares. That’s the highest level since mid-January, about a month, and if we get any kind of follow through this stock should get up and test 4.00 pretty quickly, beyond that this stock could be one of those flyers that sees 6-7-8.00 down the road depending on news.
Houston American Energy Corp. (HUSA) has been flying the last couple sessions. Up another 1.12 today or 11% on 627,000 shares. As you can see it popped out of this trading range yesterday, accelerated it today. The stock, however, is at the top of its 6-month rising channel and could see a pullback shortly but the momentum’s in play and we very might well also get a test of the 12.75-85 that it hit back in ’08.
Sketchers USA (SKX) finally broke out of the wedge it’s been in the last month and a half, two months, volume picked up to the best level in fours weeks today and the stock jumped 1.00. If it gets over 31.62 I could see this stock accelerating higher, a target in the 40 – 41 range is very doable in my humble opinion.
Ultra Clean Holdings (UCTT) had a very significant day technically today. You can see that it was in a trading range for the last four months, it broke out on very heavy volume, the heaviest volume since last June. Although it closed right at significant resistance, a move through here with any additional move could get this to the 111/2 area followed by an additional move to a secondary target around 14.
Other stocks on Harry’s list today are Acme Packet, Inc. (APKT), Brigham Explorations (BEXP), Culp (CFI), Finisar (FNSR), Integrated Silicon Solutions (ISSI), Micrus Endovascular Corp. (MEND), Momenta Pharmaceuticals (MNTA), Nektar Therapeutics (NKTR), Netlist Inc. (NLST), Pharmacyclics (PCYC), TASER International Inc. (TASR), Valassis Communications (Valassis Communications (VCI).
Those are some good stocks for you today.
