Starting off with Advanced Micro Devices (AMD), we featured and highlighted earlier in the week because of a bull flag it was in, jumped out of it rising 10 1/2% on 79 million shares closing at 7.32, 1 cent off the high for the day going away.
On the negative or down side, AMD is at resistance at the top of the channel and just underneath long-term lateral price resistance, but has taken out a key level of resistance that is quite important and could lead to higher prices, particularly with the kind of thrust it’s getting in the technicals. The OBV, Money Stream and Balance of Power are improving as the stock spikes up.
A-Power Energy Generation Systems, Ltd. (APWR), after breaking out of a rising coiling-type base pattern, exploded Tuesday, then followed through today. It did back off the June high just beneath it, which is natural, and if it can make a run through that it could get up to the next resistance level up around the 18 level, potentially.
China Green Agriculture Inc. (CGA) had a fantastic day and was one of the leaders in the stock market today. It broke out of a 4-month trading range, exploded on heavy volume of 3.88 million shares, one of the heaviest volume day it’s had all year if not in the last couple of years. The result is a clean breakout from a trading range, somewhat like it had in mid-July which led to the August highs. It would be no surprise to see higher prices and a move that takes it into the low 20s, potentially, or even higher.
Genco Shipping & Trading Ltd. (GNK) jumped another 1.04, although it did reach as high as 29.20 and backed off a point. It still closed up 1.04 for the day. It may be getting a little tired because of the big run it had from 19 to 29 and change over the last two weeks. A pullback would be in order if there’s support around 25 3/4 – 26 zone. Any pullback there on low volume would be very bullish and cause for potential entry.
SmartHeat Inc. (HEAT) is up another 1.31 or 10%. It went from 9 to 13.98 over the last 3 days and settled into 13.80 at the close of the day.
Liveperson Inc. (LPSN), only up 2 cents today, had a narrow trading range, but did not back off and appears to want to move higher. The top of the channel of this one is up over 8 – 8 1/4, maybe 8 1/2, potentially, over the next week or two.
Ocean Power Technologies, Inc. (OPTT) only had a 14 cent gain today but it’s still moving up nearly every day. Low volume the last couple of weeks during a consolidation pattern but it’s a rising one. Very bullish pattern. A spike to the upside could break this one out.
Revlon Inc. (REV), which just keeps motoring along, reached 17.66 today, just a shade under yesterday’s high. It failed to make a new session high but it had an inside day today. We’ll have to see whether it can continue in this tremendously sharply rising channel and take it into the low 20s, potentially.
Solarfun Power Holdings Co. Ltd (SOLF) had a big day today along with a lot of other junior solars on 5.9 million shares. It jumped 11% or 65 cents.
Telestone Technologies Corp, (TSTC) has been consolidating at a very high level since the sharp rise it had at the end of last week. As volume pulls back technicals are holding up very well. The top of the channel indicates the potentiality of a stock that could reach into the 20 - 22 range over the course of the next few weeks.
These are some really good stocks for you today. We’ll see what they do over the next couple sessions, which should prove to be very interesting for some of them.
