PKT, ROSG, CRR, FLS - Stock Charts to Watch
It was another interesting day on Wall Street on Thursday for the stock market. It ended negative on the day, so we’re going to go over longs and shorts.
Procera Networks, Inc. (PKT) popped through resistance on Thursday with a surge, up 1.12 to 20.90, or 5.66%, on 1.4 million shares. That’s the biggest volume in several weeks. It got up to the 50, and then backed off below it. There might be a follow-through on this one, so look for a move to take it to 23 1/2-3/4, maybe as high as the 24 zone.
Rosetta Genomics, Ltd. (ROSG), after a monster move, pulled back gently for four days in a falling wedge, and then on Thursday it snapped back for 12.51, went to 14.15, and closed at 13.75, up 1.43, or 11.6%, on 1.4 million shares. The volume increased a little bit over Wednesday’s volume. A follow-through could take out the declining topsline, so Friday is an important day for this stock, because it might explode into the high teens, or low 20’s, if it does have a follow-through.
On the Short Side…
CARBO Ceramics Inc. (CRR) has been a dog ever since we put the word out on this stock late last year. Even though it did have a little rising channel that was still in the confines of a falling channel, it was nothing more than a big bear flag. After that, it came down, moved sideways for four weeks going almost nowhere, and on Thursday, it cracked and dropped 2.45 to 81.36, or 2.92%. It may have gone slightly below the support line, but there’s nothing there but air, so it could see a very dramatic fall that could be quite ugly here.
Flowserve Corp. (FLS) had a top that was broken, then a bear flag that formed, and on Thursday, it fell away 3.25 to 102.78, or 3%. It could very well be headed toward the 95-6 zone, or another 6 points or so.
Other stocks in our Charts for the Day are Arena Pharmaceuticals, Inc. (ARNA), Microvision Inc. (MVIS), OmniVision Technologies Inc. (OVTI), Procera Networks, Inc. (PKT), Rosetta Genomics, Ltd. (ROSG), Synta Pharmaceuticals Corp. (SNTA), Synacor, Inc. (SYNC), Threshold Pharmaceuticals, Inc. (THLD), and Vringo, Inc. (VRNG). Charts of the Day on the short side include Abercrombie & Fitch Co. (ANF), American Public Education, Inc. (APEI), CARBO Ceramics Inc. (CRR), Deckers Outdoor Corp. (DECK), EV Energy Partners LP (EVEP), Flowserve Corp. (FLS), Great Northern Iron Ore Properties (GNI), Joy Global, Inc. (JOY), Life Time Fitness Inc. (LTM), Schnitzer Steel Industries Inc. (SCHN), AND Ultra Petroleum Corp. (UPL).