Charts of the Day - Harry Boxer, TheTechTrader.com
by Harry Boxer, www.TheTechTrader.com
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Today is the end of the month and the end of the quarter. We’re going to do something different today and I’m going to take a look at some stocks that are consolidating bullishly and a couple that are breaking out of those consolidations.
China Biologic Products, Inc. (CBPO) has a neat little head-and-shoulder bottom and price breakaway gap. It broke out, pulled back in a neat little mini bull wedge on low volume. Looks like possibilities are that it breaks out at around 11.03 and runs up toward 13 1/2 level, my initial trading target at the Jan high.
DJSP Enterprises (DJSP) has had a beautiful run. We caught that one down in the 8 range. It ran up to 12 1/2 and then some, exceeding my target. Now it’s pulled back in a very orderly flag with decent technicals. It may not be done yet. It could have another leg up. Next target 13 1/2 and 15.
Pixelworks Inc. (PXLW) after breaking out at the 3.60-70 area on heavy volume, it flagged twice and now it’s forming another mini-flag at the 5.75 area. It looks like we’re headed toward the 7 1/4-1/2 range, my near-term trading target.
Xyratex Ltd. (XRTX) had a bit of a move today and in afterhours trading after earnings were released it’s gapping up about 2.00. It should have a spectacular day Thursday. But notice that it comes after a 3-week bull flag formed and after a 1-day pop. The pullback held trendline and moving average support, and now we’re probably on our way to 23-24.
Other stocks featured on the Charts of the Day are American International Group (AIG), Alkermes, Inc. (ALKS), Amylin Pharmaceuticals (AMLN), Air Transport Services Group (ATSG), China MediaExpress (CCME), Star Scientific (CIGX), Celldex Therapeutics (CLDX), Clean Energy Fuels (CLNE), China Armco Metals (CNAM), City Telecom HK (CTEL), DJSP Enterprises (DJSP), FSI International (FSII), Immersion Corporation (IMMR), L & L Energy (LLEN), Pacer International (PACR), PolyOne Corporation (POL), Rexahn Pharmaceuticals (RNN), SMART Modular (SMOD), Somaxon Pharmaceuticals (SOMX).
