ARRS, ENOC, RKUS, SGMO - Stock Charts to Watch
Charts of the Day video for Tue January 15th 2013
The stock market made a new, 5-year, S&P 500 high on Tuesday, but Nasdaq is trailing. Apple Inc. (AAPL) is looking quite soft and, although there may be a low in this zone, we’ll have to see, but more importantly, we’ll be covering the long side, because there are still so some good looking stocks.
Arris Group Inc. (ARRS) had a significant price-volume surge on Tuesday, up 1.22 to 16.56, or 8%, on 7.1 million shares, the second best volume in several months. On a longer-term timeframe, the top of the channel has been taken out. The short-term it reached the top of the 4-month channel. If it could accelerate here, there’s a possibility it could get up into the 19-19 1/2 area, but first, look to see if it gets any kind of consolidation, or if it does follow-through, how far it goes.
EnerNOC, Inc. (ENOC) had a big day on Tuesday. If you look at the overall pattern, it looks like a left shoulder-right shoulder and a big combination pattern over 18 months. Lateral price resistance was taken out on Tuesday, and secondary, minor resistance was tagged at around 15.89. It closed strong, up 3.20 to 15.76, or 25 1/2%, on nearly 3 million shares. That’s the best volume in a year and a half and the best price action as well. Look for more upside here. The immediate, short-term target is around 17-17 1/12, and the secondary target is set at 20.
Ruckus Wireless, Inc. (RKUS) is a new, recent IPO. It ran up in December, consolidated, ran up at the very end of the year, and consolidated at the early part of January. On Tuesday, it popped 2.50 to 24.21, or 11 1/2%, on more that 1 million shares. It could be headed quickly to 26 1/2-27 short-term.
Sangamo Biosciences Inc. (SGMO) broke out across key resistance on Tuesday, and has been spiking the last two sessions on big volume. It was up 1.79 to 8.77, or 24.6%. on 1.3 million shares. It may have difficulty getting through 9 1/4, which is the near-term target, but look for some pullback, entry op and consolidation. On a longer-term basis, if it gets through the 9 1/4 target, you can see key, multi-year resistance, and the potential for this stock to get into the mid-teens.
Other stocks on Harry’s Charts of the Day are Arena Pharmaceuticals, Inc. (ARNA), Boston Scientific Corporation (BSX), Celsion Corp. (CLSN), 8X8 (EGHT), Himax Technologies, Inc. (HIMX), Melco Crown Entertainment Limited (MPEL), Orexigen Therapeutics, Inc. (OREX), PDF Solutions Inc. (PDFS), Seattle Genetics Inc. (SGEN), Santarus, Inc. (SNTS), TravelCenters of America LLC (TA), Ixia (XXIA), and Quiksilver Inc. (ZQK).