The following stocks look extremely powerful with potential imminent moves.
Acadia Pharmaceuticals, Inc. (ACAD) broke out of a base in May, formed a beautiful coil, broke out of that coil and spiked up to from 2 to over 5 and formed a beautiful flag for about five days. Monday it popped 60 cents and may be emerging out of that flag. If it takes out 4.85 and then through 5 on Tuesday, it could spike up on heavy volume.
Affymetrix, Inc. (AFFX) is a stock that has tremendous momentum, but look at the position of the technicals. The Balance of Power is full green and it has been for eight days. The Money Stream and OBV are at the top of the window. This indicates strong accumulation. The stock was up 66 cents Monday, 7 1/2%, and has momentum. Although it is reaching near the top of the channel, it could spike up through it and explode up toward the 11-12 range short term.
Converted Organics, Inc (COIN) is one we added back to our model portfolio after trading it a couple of times. It did get stopped out near the first of June, did nothing for six weeks, then got very very quiet. The declining tops line and moving averages - 10, 21 and 40 day - all were pierced Monday, as the stock soared on nearly 6 million shares, gaining nearly 50% in one day. I'm looking for a follow though. There is resistance up around 1.75-1.80 in that range, then beyond that we can expect a test in the May highs up around 2.5. That's my short term trading target.
Human Genome Sciences, Inc. (HGSI) is in a high-level bull flag that been going on for two weeks now. It's really getting quiet. The technicals have not deteriorated whatsoever. If it starts to move and takes out the 15-15.25, 15.5-15/75 range we could see a spike up take it substantially higher. May need news, but we'll see.
Other stocks highlight in our Chart of the Day video are: Infosonics (IFON), Jazz Pharmaceuticals, Inc. (JAZZ), Novavax (NVAX0, OncoGenex Pharmaceuticals, (OGXI) Oncothyeon, Inc. (ONTY), Orexigen Therapeutics, Inc. (OREX) Rino International Corp (RINO), Spectrum Pharmaceuticals, Inc. (SPPS), Orthovita (VITA), Lockheed Martin Corp (LMT), and Schnitzer Steel Industries, Inc. (SCHN).
