VHC, ADES, ONXX, FIRE - Stock Charts to Watch
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The stock market had a not-so-good day on Monday as the indices continued its decline. Nevertheless, we’re going to go over stocks that did well on Monday, or had unusual movement. We’ll also cover the remaining seven, or so, that are swing trades right now.
VirnetX Holding Corp (VHC) had a very big day on Monday, up 3.76 to 25.00, or 17.7%. It has a massive multi-month head-and-shoulder bottom. A big thrust late in the day exploded it from 20.40 to 25.50 in about an hour’s time. This could be a breakout day for this stock. The volume at 5 million shares is the biggest volume in 5 months, and at this point, a follow-through may take it up into the 29 zone short-term. If it gets through that, the secondary target is set at 33.
ADA-ES, Inc. (ADES) had a big day as well on Monday. After a big move that we spotted May and June, it moved sideways for 6 months. Finally in November, it moved from the 15 range up to the low 20’s, and then, over the last couple weeks prior to Monday, it was flagging, or pulling back on low volume, a retest of price support and 20-day moving average. It firmed up on Thursday and Friday, and on Monday, it opened strong across 5 days of resistance at 20, and then ran up to 23.15, before backing off at 22.10. It was still up 2.11, or 10 1/2%. Resistance at 24 1/2 is the short-term target. Should it get through that, this could be a runner up into the 30’s.
Onyx Pharmaceuticals Inc. (ONXX), a swing trade, started off very nicely on Monday getting up to 41.50. That’s the highest in a week, but it pulled back to 39.48, up only 08 cents on the day. As a result, this may have been a premature selection as there may be a bear flag. It’s important to watch the line at the bottom of the channel as well as the 3-day lows at the 37 1/2 - 38 zone. It’s support right now, and if it gets underneath that, you may want to think about exiting temporarily.
Sourcefire, Inc. (FIRE) had a very nasty reversal. On Friday it spiked up and broke out on heavy volume, and as a result, we put it out on a swing trade at the 38 - 39 zone. On Monday, it reversed very ugly, and is in jeopardy of potentially making a move that takes out support at the 33 level, and it’s near there right now. If it gets under 33, it may very well break the near-term rising bottom line, and if that occurs, there could be a pullback toward the 31 price, moving average, and trend line support. There is reason for concern here, so keep an eye this one for sure.
Other stocks in our Charts for the Day are LDK Solar Co., Ltd. (LDK), Gentiva Health Services Inc. (GTIV), VocalTec Communications Ltd. (CALL), Elan Corp. plc (ELN), ProShares UltraShort Silver (ZSL), LiveDeal, Inc. (LIVE), Heckmann Corporation (HEK), ProShares UltraShort Gold (GLL), ViroPharma Inc. (VPHM), The swing trades include Kratos Defense & Security Solutions, Inc. (KTOS), Oncothyreon Inc (ONTY), Silicon Motion Technology Corp. (SIMO).