China Automotive Systems, Inc. (CAAS), which has been on our top 40 list for months now, continues to work its way higher. Look at today’s action. It popped across the October highs, up 79 cents or 6.3%. The volume picked up to the highest level in about two weeks. The stock is at new multi-year highs, going back about three or four years now.

 

Next we have Cardtronics (CATM), which continues in a very similar rising channel. The significance is that the last few days the stock has been moving steadily higher, not getting way ahead of itself, in a nice orderly advance with increasing technicals.

 

I wanted to revisit Kandi Tech Corp. (KNDI) at this time because, in particular, the volume has surged the last four sessions, while the stock has moved kind of sideways, but it’s at the apex of a coil. It appears that it may want to come out of this coil and pop. If that’s the case I’m looking for a move that takes us to 5-plus. 

 

Protalix Biotherapeutic (PLX) has a rising channel similar to CAAS and Cardtronics. Steady rising channel. Broke above key resistance a week and a half ago. It has moved up steadily higher everyday. Not getting too far ahead of itself. Short-term target 14.

 

Here’s one we can’t say enough about. Revlon (REV) has absolutely gone ballistic, from $6.00 to $15.00 in 8 day, a huge percentage move. Massive volume. Up 4.00 or 37%. Breaking out of this mini 4-day flag that it was in on low volume. Could see additional progress that takes us up to 17 – 17 1/2 area short term. That would be my target on it. But it’s getting long in the tooth and may need to rest and form another consolidation in the zone.

 

Lastly is U.S. Energy Corp. (USEG), which I wanted to point out, since it broke out of the flag, it’s be edging slightly higher everyday, but not getting ahead itself. Now above the 10 & 21 day moving averages as well as the 50. Overhead resistance, long term, going back multi-years you’ll see a 10-year base pattern that could support a huge move. The all-time high in ’96 was in the mid 20s. It wouldn’t surprise me if over a longer term basis USEG did that. But from a short-term stand point, I’m looking for a move that takes us up to 8 – 81/4, and then beyond that, around 10 – 10 1/2. We’ll see what happens.

 

A few other longs to take a look at are: DG FastChannel, Inc. (DGIT), which has really powered ahead this week, while Human Genome Sciences, Inc. (HGSI), a stock we’ve had on our radar for a long time, continues to look well. Ocean Power Technologies, Inc. (OPTT) exploded today, up 1.10 or 13.3 % on 2.78 million. That’s a strong volume.

 

Listen to Chart of the Day to hear Harry's point of view on all of today's longs.