Many of these stocks we’re going to talk about today are Chinese related but there’s certainly several others.
Starting off with a stock we’ve talked about several times in the last week or two is AsiaInfo Holdings (ASIA). The key to today’s action was that it finally broke out of the apex of this mini pennant or coil it was in, or wedge, and it popped up to a 1.10 gain. Volume increased a bit. We want to see more out of that. Technicals, however, look real good and the top of the channel measures somewhere around the 37 dollar range and that’s my target.
SmartHeat (HEAT) had a nice day today, up 1.23 or 8% on 2.7 million. It broke out of a little wedge consolidation, popping on the biggest volume in two weeks, with technicals surging. This looks like an 18 3/4–19 dollar stock short-term. Beyond that this stock could accelerate and make it up towards the low to mid 20s potentially.
One of my favorite stocks of the year so far is Kandi Tech Group (KNDI). I like the way it is acting. It made 7 consecutive new highs late November, early December, pulled back for 5 days in a row and consolidated on low volume. Today, popped back up, tagged a new high at $6. That’s a new multi-year high. The top of the channel tells me that $7 is doable short-term, but potentially this is a 9 1/2-10.00 dollar stock at the top of the bigger channel.
Telestone Technologies (TSTC), which broke out of a flag earlier in the month, has now flagged again and today broke out as volume surged and technicals held up very well. Target around 20 short-term, low to mid 20s beyond that.
Other stocks on today’s chart are: Canadian Solar Inc. (CSIQ), DSW Inc. (DSW), Focus Media Holding Limited Ads (FMON), HiTech Pharmaceutical (HITK), JaSolar (JASO), Netlist (NLST), NutriSystems (NTRI), Sunesis Pharmeceuticals (SNSS).
That’s it for today. There’s some ideas for you for the rest of the week.
