ZNGA, AMLN, YOKU, RAX - Stock Charts to Watch
Charts of the Day video for Thu February 2nd 2012
Despite the fact that the market had its ups and downs on Thursday, there were a lot of stocks that we follow that did very well, so we’ll go over some of those.
Zynga Inc. (ZNGA), the new IPO for Facebook registering, has been taking off for the last few days. It has gone from about 9.40 up to 12.91. On Thursday, it had a big day, popping 1.79, or 17%, on 59 million shares, and is not above the IPO day’s high, which is around 11.45 - 11.50 area. It may get some extension up around the 14-range. So, keep an eye on this stock.
Amylin Pharmaceuticals, Inc. (AMLN) broke out of a head-and-shoulder basing-type pattern recently. It had strong volume on a surge breakout, and paused the day after the breakout. That was the sign that it was soft, and sure enough, it popped on Wednesday, and again on Thursday, up 2.23, or 14%, on 14 million shares. It went from 14 to nearly 18 on Thursday, closing just 17 cents off the high. It looks like it could fill the gap up around 20 - 21 short-term.
Youku.com Inc (YOKU) had a massive 5-wave decline and a retest, a test of the up-channel, and a pullback, and on Thursday it popped 1.81, or 7.9%, on 3.9 million shares. It broke through the resistance line just beneath Thursday’s high of 24.72, and looks like it will move up to 27 short-term, and then 30 intermediate-term.
Rackspace Hosting, Inc (RAX) had a big day on Thursday, with an explosive move and breakout, and multi-month resistance. Perhaps a head-and-shoulders basing-type pattern. It could support a big move on this. On Thursday, it was up 2.42 to 46.87, or 5.44%, on 4.4 million shares. This stock could move into the mid-50’s, but there’s a target on it around 49 - 50 short-term.
Other stocks in our Charts for the Day are GMX Resources Inc. (GMXR), Vringo, Inc. Common Stock (VRNG), Mattson Technology, Inc. (MTSN), Entropic Communications, Inc. (ENTR), Discovery Laboratories, Inc. (DSCO), Affymax, Inc. (AFFY), Achillion Pharmaceuticals, Inc. (ACHN), Dynavax Technologies Corporation (DVAX), Rare Element Resources Ltd. (REE), KV Pharmaceutical Co. (KV-A), Hudson Technologies, Inc. (HDSN), Celldex Therapeutics, Inc (CLDX), Glu Mobile, Inc. (GLUU), Corinthian Colleges Inc. (COCO), Endeavour International Corporation (END), Clean Energy Fuels Corp. (CLNE), Array BioPharma Inc. (ARRY), Tibco Software, Inc. (TIBX), Halozyme Therapeutics, Inc. (HALO).