Chart of the Day Harry Boxer, TheTechTrader.com
by Harry Boxer, www.TheTechTrader.com
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Despite the soft market today we had a lot of stocks that did well and have highlighted some of them.
American International Group (AIG) appears to have come out of a little mini bull coil it was setting up after the pop early this month. Today’s action broke it back above the 50-day moving average. It closed up 1.90, which was about 85 cents off the high, but still on 24 million shares, a nice pick up in volume. It may have initiated a new leg up. My target on this is around 32 1/2.
Culp (CFI) has been very strong action in the last 90 days. I’ve seen this stock go from 7 to 17. It’s been particularly strong the last few sessions, up from around the 12 range to 17. It’s had heavy volume and strong technicals, and is spiking up. We’re at secondary resistance up around the 17 range so you might see it back off and consolidate, but certainly a strong momentum stock with the next target around 21.25 -.35 or thereabouts.
Green Plains Renewable Energy (GPRE) was the star of the day today. It gapped up after a 3-day little mini flag, popped on big volume, closed at the high end of the range, up 2.85 or 20% today. Looking for a move that takes it toward 19-plus short-term.
Silicon Graphics (SGI) continues to be in a strong mode upward, broke out of a little consolidation. Today was an inside day, very quiet, low on volume, just a 2-cent gain. Top of the channel’s beckoning up around the 12 1/2 - 13 range short-term trading target.
Other stocks on Harry’s list of Chart(s) of the Day are Astrotech Corp. (ASTC), China Agritech (CAGC), Compugen Ltd. (CGEN), Cyclacel Pharmaceuticals Inc. (CYCC), Integrated Silicon Solutions (ISSI), LeapFrog Enterprises (LF), Radware (RDWR), TASER International Inc., (TASR).
That’s it for tonight. Those are some ideas for you for this week. I will talk to you tomorrow.
