Charts of the Day - Harry Boxer, TheTechTrader.com
by Harry Boxer, www.TheTechTrader.com
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BioTime, Inc. (BTIM) had a big day today. Notice the base pattern over the last several months. High-volume breakaway today, up 1.62 or 28% on 5 million shares. That’s huge volume for that stock. Long-range rising channel calls for a move that can takes this to about the 13 1/2 level, a very big percentage gain over the next few weeks potentially. I’ll give it a short-term trading target at around 9-9 1/2.
Las Vegas Sands Corp. (LVS) had a significant session today. The big move from July to September took it from under 6.00 to over 20. Then it went into about a 6-month consolidation pattern with multiple tops in the 19–20 zone. Today, jumping 1.37 or 7.3% on 42 million shares. With a thrust in technicals this stock looks like it’s breaking out, closing just a nickel off the high today going away. This, to me, looks like it has legs. Short-term trading target 23 -24, intermediate target in the high 20’s.
Pharmasset, Inc. (VRUS) had a big day today, breaking out of a trading range of several months with a price-volume surge after the big run May through September. That consolidation was healthy. It put in a price-volume surge today, up 2.40 or 10% on 570,000 shares, the heaviest volume in about four months. It’s significant enough to maybe carry this stock higher and test the ’08 spike highs in the low to mid 30’s. Short-term target is 29, secondary target 34-35.
Lastly, Xyratex Ltd. (XRTX) is setting up for a nice move again after breaking out of a coil or wedge. It spiked up on a price breakaway gap on big volume, pulled back over the last 6-7 days. Today the volume picked up, the stock jumped 63 cents. It looks like it want to break out of the mini-flag it’s in. Long-term trading target is now in the mid 30’s, more than a double, with the short-term target around 23-23 1/2.
Other stocks at Harry’s Charts of the Day are Acme Packet, Inc. (APKT), Callon Petroleum Co. (CPE), China Valves Technology, Inc. (CVVT), MAP Pharmaceuticals (MAPP), PLX Technology (PLXT), Pixelworks Inc. (PXLW), Questcor Pharmaceuticals (QCOR), Radware (RDWR), RXi Pharmaceuticals (RXII), Xfone, Inc. (XFN).
