This is Harry Boxer and these are the charts of the today.
A couple of new ones and a couple of old ones, but certainly most of these stocks that you’re going to look at are in motion right now.
Biofuel Energy Corp. (BIOF) is a new one we’ve been watching recently that had a big breakout yesterday, jumping to the tune of 73 cents or 37.8%, today another 34%. Up 75% in just two days. A clear breakout from this basing pattern, across key resistance, and followed up to secondary resistance. It may need a period of backing, filling, flagging and resting, but certainly has some excellent potential.
Looking at a little bit longer-term pattern, you can see that this stock did come down from the 11–12 range and has ample room to run. My next trading target, up around the 5 level, and beyond that something perhaps in the 6 1/2 - 7 range is doable.
Cardtronics (CATM), a stock we talked about before, has a beautiful rising channel. Take a look at the current pattern. In a nice little coil or narrowing pattern near its moving averages, the volume has surged the last 3 days. So has price. Today it broke out with a vengeance. At an all time high with little, if any, overhead resistance, and with the top of this channel measuring something upwards toward 20 plus, this stock has a lot of room to run.
Lihua International, Inc. (LIWA) traded that one today. Had a big winner today, up 33%, 2.77 on 2.77 million, the heaviest volume since its IPO. It broke across this declining tops line, which, after this long 3-week consolidation, is a very bullish technical event today. I’m looking for a move that takes us potentially up towards 14 1/2 thereabouts.
SIGA Pharmaceuticals Inc. (SIGA), came out of a long 6-month trading range the other day, backed off after reaching 10.08 - 10.09 and now may be coming on again. If this consolidation lasts much longer, it could result in a thrust that takes it up toward the 11 1/2 – 12 zone. That is my target on it.
China Green Agriculture, Inc. (CGA), Casella Waste Systems Inc. (CWST), DSW Inc. (DSW), SmartHeat Inc. (HEAT), KMG Chemicals Inc. (KMGB), Kandi Technologies, Corp (KNDI), Nanometrics Inc. (NANO), Qiao Xing Mobile and Communication Co., Ltd. (QXM), is some of the other stocks mentioned today.
I hope you’ve enjoyed that and gotten some good ideas out of it.
I will talk to you tomorrow.
Have a good evening.
Harry
