GALT, MDC, COO, TAL - Stock Charts to Watch
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The stock market had an ugly morning on Monday, and a nice comeback in the afternoon that was pretty meaningless. All it was, was a snapback off support from slightly oversold conditions. We'll take a look at both longs and shorts here and catch up on what’s been going on with these stocks.
Galectin Therapeutics, Inc. (GALT) had a big pop on Monday, up 1.13 to 2.90, or 64%, on 25.6 million shares. That was not only the biggest volume it’s ever had, but it took out lateral price resistance, and tested the next level of resistance up around the 3.45 - 3.48 area. Even though it backed off there, it still had a big day. The next target is set at 3.48. If it gets through there, it could easily get up into the 4 1/2 – 5 zone, maybe as high as 5 1/2.
MDC Holdings Inc. (MDC) has been acting very well for quite some time. It moved from 15 to 33 from December to July, and is at the top of the channel. On Monday, it jumped 1.79 to 33.18, or 5.7%, on 1.4 million shares. If it accelerates, it should get up into the mid 30’s, or higher.
On the Short Side…
The Cooper Companies Inc. (COO) rolled over, came down hard, formed a wedge, and then broke down on Monday, down 1.32 to 74.18. If it gets below the spike low at 72 1/2, it could very easily find itself in the high 60’s, mid 50’s short-term. It could have a big fall in front of it to crack to the bottom of the channel.
TAL International Group, Inc. (TAL) broke down from the trend line, formed a wedge, cracked on Monday, and was down 2.23 to 32.49, or 6.4%. If it gets down beneath the 31 zone, it could fall away. It appears that there’s a possibility that a new down channel may be in place, or forming. If that’s so, then something down around 27 could take place as well.
Other stocks in our Charts for the Day are Array BioPharma, Inc. (ARRY), 8x8 Inc. (EGHT), Horizon Pharma, Inc. (HZNP), Kandi Technologies, Corp (KNDI), Navidea Biopharmaceuticals, Inc (NAVB), Peregrine Pharmaceuticals Inc. (PPHM), Repros Therapeutics Inc. (RPRX), Ryland Group Inc. (RYL), StemCells Inc. (STEM), and Vringo, Inc. (VRNG).
Stocks on the short side include Abercrombie & Fitch Co. (ANF), American Public Education, Inc. (APEI), The Chefs' Warehouse, Inc. (CHEF), Chipotle Mexican Grill, Inc. (CMG), Clayton Williams Energy Inc. (CWEI), Joy Global, Inc. (JOY), Nucor Corporation (NUE), Red Robin Gourmet Burgers Inc. (RRGB), WebMD Health Corp. (WBMD), and Weight Watchers International, Inc. (WTW).