DNDN, BVSN, CIE, RAX - Stock Charts to Watch
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There are so many longs that we had a tough time cutting the list down, because we want you to see those before we get involved on the Boxer Short side.
Dendreon Corp. (DNDN) had a breakaway gap in early January, then a strong move up, a rising flag, and then it popped, flagged, popped again, flagged again, and popped again on Monday, up 2.36 to 16.53, or 16 1/2%, and a volume surge to 30 million shares. With the breakout here, it could move higher. Look for something in the high teens around the 18 - 20 range.
BroadVision, Inc. (BVSN) had a very strong surge, a snapback type of move, it reversed sharply, and went from under 10 to more than quadrupling in just a couple weeks, due to the big pullback right at support, where it bounced sharply, and continues to move sharply. It went from 20 to 40, literally, in just about five days. That’s a very big move. On Monday, it jumped 5.31 to 39.45, or 15.6%, on a little over 1 million shares. Watch for Monday’s low around 34 - 34 1/4 as being a potential exit point. It’s a long way from the high, so you’ll have to look at some intraday support on Tuesday.
Cobalt International Energy, Inc. (CIE) continues to amaze, and this stock has now moved from under 6 1/2 to Monday’s high at 22.33, which is nearly quadrupling in about 3 1/2 months. It was up 1.35 to 22.19, or 6.48%, on 1.88 million shares on Monday. The momentum is strong, and has a 5th wave in place. Look for it to move up to the mid-20’s before it falters.
Rackspace Hosting, Inc (RAX), a swing trade idea, broke through resistance, stalled for a day, reversed nicely off the 46.80 range, and on Monday, it was up 1.21 to 48.40, or 2 1/2%, on 2.4 million shares. This one could be on its way to higher levels, somewhere up around the 53 - 55 range.
Other stocks in our Charts for the Day are Smith Micro Software, Inc. (SMSI), Genco Shipping & Trading Ltd. (GNK), KV Pharmaceutical Co. (KV-A), Zoltek Companies Inc. (ZOLT), Netlist Inc. (NLST), Anika Theraputics (ANIK), Abiomed Inc. (ABMD), A123 Systems, Inc. (AONE), LDK Solar Co., Ltd. (LDK), Pandora Media, Inc. (P), SodaStream International Ltd. (SODA), VirnetX Holding Corp (VHC), Corinthian Colleges Inc. (COCO), Affymax, Inc. (AFFY).