Today I'm going to talk about several stocks on the long side that had significant movement on Tuesday. One of them is A-Power Energy Generation System, Ltd. (APWR). The kind of rising wedge or coil it was in was broken Tuesday with a price-volume surge and breakaway gap after a contract announcement today.
This stock had a significant breakout to new nearly 6-month highs, and is about to test that area in the 14 1/2 zone or thereabouts. Next resistance beyond that range would be 18 1/2, then something around 20, but that's a ways down the road.
Sourcefire, Inc. (FIRE) had a pop Tuesday that took it out across its declining tops line and above the earlier November high to a new high for this month. It appears that with the volume starting to pick up over the last couple of sessions we may start to see some kind of upside follow through. The chart shows a beautiful rising channel that calls for a move into the low 30s, eventually, if it can get through the spike high it had at the end of October when it reached up towards the 24+ area.
Telestone Technologies Corp. (TSTC) has had a great long-term rising channel for the last 8 or 9 months. The top of the channel measures in the 21-22 zone. It's a long way from here, but with the momentum it has it could easily see something in the high teens.
U.S. Energy Corp. (USEG) tried to break out Tuesday, getting up to 6.89, but closed up at 8 cents below that. However, it's giving indications that it wants to test the 7.00 range, then take out the 7-7.35 area. The goal on this one short-term is 8.00. If it continues the way it has been, it could see 10 to 12.
Briefly on some other stocks we review in our video chart analysis today: Cardtronics (CATM) continues to edge higher. A year ago this stock was $.65, and now it's up to $11.49 and could continue to go higher. It's working steadily along the moving averages making progress as it goes.
Canandian Solor, Inc. (CSIQ) had a significant move after their earnings release Tuesday, running up to over 21, which is the highest level it's reached since August or September of last year. This one could get up as high as $25-$26.00 range short term.
Ion Geophysical Corp. (IO) broke out and surged 37 cents or 7%, a new high for the last 52 weeks, and if it continues it could get up to the 7-8 range.
Liveperson Inc. (LPSN) is edging higher and following through on Monday's breakout. The top of the channel measures 8, which is my goal on that one.
Nabi Biopharmaceuticals (NABI) has had a strong 2-day surge, up 65 cents or 14% on 3.1 million shares. At 4.54 it could get as high as the 6 range.
Nanometrics, Inc. (NANO) continues to impress. A 5-day move now has taken it from 7.20 up to 13.30, about an 80-85% run in just the last 6 sessions. Huge volume. Strong momentum. Could see top of the channel near 16 - 16 1/2 short term.
Revlon (REV), my favorite stock this month for sure, has gone from 6 to more than 17.70 just in the last 2 1/2 weeks. Heavy volume and great technicals, and may get up to the 21-22 zone if it keeps the momentum going.
Rino International Corp. (RINO) after breaking out a couple of days ago continues to edge higher. Top of the channel measures up around the 35 area and it's very conceivable we see that short term.
