GSB - IDSA- MDF - MIPI - Stock Charts - Among Our Charts to Watch
by Harry Boxer, www.TheTechTrader.com
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Today I’m going to go over some charts that have patterns that are appealing on the long side.
GlobalScape Inc. (GSB), a neat little low-priced stock, popped, consolidated, popped again, and consolidated again. It had 5-waves up and is holding up very well and is consolidating nicely during the market decline. It looks to me like once the market turns it's going to explode up toward the 4.00 level, my initial trading target, with a secondary target at 5 - 5 1/2.
Industrial Services of America, Inc. (IDSA) had a big day today after upgrading their earnings outlook. A mini-heard-and-shoulder bottom has formed. This stock exploded for 1.55, or almost 15%, today on the heaviest volume it's had for months, and it looks to me like it's cleanly broken out, including a move across the 50-day and lateral price resistance. Initial target is up around 15-15 1/4. I expect that to be reached. Secondary target at 17 1/2 -18.
Metropolitan Health Networks Inc. (MDF) has been consolidating beautifully and has a nice rising channel, but the recent 5-wave move down is a constructive, orderly one. Looks to me like it has more to go and the target up around 5 - 5 1/4 would be the next level to reach.
Molecular Insight Pharmaceuticals, Inc. (MIPI) has had 4 pops since mid-February, all on strong volume, then a pullback on lower volume. So it's given us bullish tendencies. Today's action was a strong move up to 2.64, but it did back off at resistance and closed back down around 2.10. Still up 50 cents, or 31%, on nearly 8 million shares. A solid day for that stock on the heaviest volume in a long time. We'll see if we can get a follow-through tomorrow and get this back up through the 2.65 area. If we do, target is around 4 1/2.
Otocks on Harry’s radar tonight are ArcSight, Inc. (ARST), MELA Sciences, Inc. (MELA), Neurocrine Biosciences Inc. (NBIX), OmniVision Technologies Inc. (OVTI).
