DNDN, ACOM, PLXS, SCSS Among Charts to Watch
by Harry Boxer, www.TheTechTrader.com
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It was a really nice comeback session on Thursday for the stocks with early losses. They came back to close in the green for most of the indices, but not for the Dow, which was down only a couple points. There were some really good stocks on Thursday, so we’re going to take a look at those.
Dendreon Corp. (DNDN) reported higher-than-expected fourth-quarter revenue from its Provenge prostate-cancer drug, and the news sent its shares up as high as 54% on Thursday. It jumped 3.02, or 40%, on a whopping 46 million shares. It gapped up, went from about 9.00 to 11.74, and pulled back down, closing at 10.62. That could have been a key breakout on for this stock. The declining topsline was taken out, and the lateral price, double-top was taken out on the opening gap practically. This stock closed very well at the upper end of the range, even though it was a point off the high. There may be some more upside to this stock. Look for it to test the gap in the 13-14 zone short-term.
Ancestry.com, Inc. (ACOM) also had a big day. After basing out October, November, and all through December, it popped on Thursday on solid earnings report, up 4.60 to 27.47, or 20%, on nearly 4 million shares. This stock broke out above the double-line of resistance, and it looks like there’s a little resistance above it in the 30-range, which is the short-term target. Secondary target is up around the mid-30 range.
Plexus Corp. (PLXS) had a great day on Thursday, up 2.70 to 30.29, or 9.8%, on 759,000 shares. That’s the biggest volume in a couple months. The key is that the neckline of the head-and-shoulder type pattern was broken on Thursday, and it looks like it’s headed to the mid-30’s.
Select Comfort Corporation (SCSS) is one of our Top 25 stocks, and continues to act well. This stock popped two days ago, backed off on Wednesday, and came on again on Thursday, up 1.11 to 23.38, or 5%, on 1.2 million shares. It looks like it’s going to head up toward the 27 - 27 1/2 range short-term.
Other stocks in our Charts for the Day are Dex One Corporation (DEXO), Adeona Pharmaceuticals, Inc. Co (AEN), USG Corporation Common Stock (USG), SandRidge Energy, Inc. (SD), Select Comfort Pier 1 Imports, Inc. (PIR), Silicon Motion Technology Corp. (SIMO), Magnum Hunter Resources Corp. (MHR), Nuance Communications, Inc. (NUAN), Endeavour International Corporation (END), Kodiak Oil & Gas Corp. (KOG).
