DTLK, GENE, JAZZ, SODA - Stock Charts to Watch
We’re going to go over some stocks that appear to be holding up extremely well in this market.
Datalink Corp. (DTLK) has a very powerful looking pattern that could lead to much higher levels. At this point, it had a run up, a pullback four-day flag, and on Monday it popped out of the flag, up 4.3% on 1.1 million shares traded. This stock has short-term potential at the 12.40-50 zone, but it’s the kind of stock that could accelerate to the 14 - 15 area.
Genetic Technologies Ltd. (GENE) snapped back with a vengeance on Monday, up 1.71, or 30%, to 7.35, on 1.42 million shares traded. That was 60 cents off the high for the day. It basically backed off the moving averages that popped up to end this big gap. If it can get through Monday’s high to the 8.00 range, it could run back up to 10 short-term, and then to the secondary target at 12.
Jazz Pharmaceuticals, Inc. (JAZZ) had a big day on Friday jumping 5.20, and then another 1.37 on Monday. At one point in the day it was up 31/2 points. The 43.60 level that it reached on Monday is minor resistance. Look for this stock to reach the 48 - 50 range on a short-term basis.
SodaStream International Ltd. (SODA) is extending nicely. It broke the three and a half week falling channel that held the 50-day moving average and lateral price support. It popped last week, followed through on Monday, reaching 79.72, a nominal new all-time high, and backed off just a little. It was still up 4.33 to 74.62, or 6%, on nearly 2.3 million shares. A pop through here and this stock could be headed toward the mid to high 80s.
Other stocks in our Charts for the Day are Asia Entertainment & Resources Ltd. (AERL), AXT Inc. (AXTI), China Techfaith Wireless Communication Technology Limited (CNTF), Direxion Daily Financial Bear 3X Shares (FAZ) , Imperial Sugar Co. (IPSU), Melco Crown Entertainment Ltd. (MPEL), Sify Technologies Limited (SIFY), Western Refining Inc. (WNR), ZAGG Incorporated (ZAGG).