Charts of the Day - Harry Boxer, TheTechTrader.com

Charts of the Day for Mon Mar 8th 2010
by Harry Boxer, www.TheTechTrader.com
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Today I’m going to talk about some stocks that had some significant technical moves Monday.

Kandi Technolgies Corp. (KNDI) recovered with a bang today after deteriorating dramatically in January having dropped from nearly 7.00 down to just above 3.00, cut nearly in half. The stock bounced, pulled back, popped a little on Friday and today really took a nice move up to reach 5.89 before backing off to 5.57. Still up 87 cents or 18 percent, and the volume was the strongest volume we’ve seen in a couple months, so this stock could headed higher. First test up around the 6.75 area, second level of resistance up around 7 3/4-8 would be my target going forward.

Nu Skin Enterprises (NUS) had a big day today breaking out of the cup and handle, a little mini-flag and then exploded today for 2.00 on 2 million shares, the heaviest volume in many months. Right now long-term resistance up in the low 40’s zone may be taken out tomorrow, and this stock could work its way higher with targets up around the mid 30’s and the high 30’s.

Origin Agritech (SEED) had a nice pop today and gave back some of it but certainly closed up 92 cents on 7 million shares and gapped up through a flag-type pattern above its 50-day moving average. That’s a significant session. Let’s see if we get a follow through. The next target on this is 13 and then 15.

Xyratex Ltd. (XRTX), which took out an entire consolidation in the last two months, started moving up last week, and then today gapped up and ran all the way up to the 18.47 range before backing off. A good deal amount but still up 1.77 on the day. Biggest volume, more than 5 million shares traded, as far back as we can go. Bottom line is the stock looks higher, secondary target up around the mid 20’s, short-term target is around 20.

Other stocks to view on Harry’s charts today are China Marine Food Group (CMFO), China Precision Steel (CPSL), Emerson Radio Corp. (MSN), Questcor Pharmaceuticals (QCOR), UFP Technologies (UFPT).

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