It was a fabulous day on Wall Street on Wednesday and a great way to start the New Year. It was a big day for a lot of stocks. The stocks we’re going to go over are up between 4% and 20%. There were a lot more in this category, too many to include them all here, but some pretty good ideas to start off the year.
NXP Semiconductors NV (NXPI) had a nice breakout on Wednesday, popping 1.51 to 27.83, or 5.74%, on nearly 2 million shares. The high going back to last September was 27.96 and Wednesday’s high was 28, so we’re right there. Keep an eye on this stock, because it has had a one-year long consolidation, and looks like it’s moving through it. The target is 35 if it gets through, and then 40 if it extends beyond the 2011 high.
PolyOne Corporation (POL) broke through the top of the wedge at 22.20, reaching as high as 22.41 on Wednesday, up 1.78 to 22.20, or 8.7%, on 1.8 million shares. It looks like it’s headed up to the top of the channel. It should get up to 23 1/2 pretty quickly, maybe even 24, and longer-term look for something in the mid to high 20’s potentially.
Qihoo 360 Technology (QIHU) on Wednesday followed through on the breakout it had on Monday, headed up toward 30.88, backed off a point and closed up a dime on the day. It’s important to note, however, that it looks like it’s on the move and headed up toward the 35-6 area short-term. So keep an eye on this one.
United States Steel Corp. (X) had a major breakout, technical session on Wednesday, up 2.04 to 25.89, or 8.55%, on 15 million shares. That’s the second biggest volume in a couple months. The zone of resistance was taken out with a thrust. Look for a test and take out of the 27 area short-term, 29 intermediate-term, and then eventually something up around the 32 zone.
Other stocks on Harry’s Charts of the Day are Aegerion Pharmaceuticals, Inc. (AEGR), Dendreon Corp. (DNDN), Facebook, Inc. (FB), Giant Interactive Group, Inc. (GA), Himax Technologies, Inc. (HIMX), InterDigital, Inc. (IDCC), Infinity Pharmaceuticals, Inc. (INFI), Infinera Corporation (INFN), Lexicon Pharmaceuticals, Inc. (LXRX), Oncothyreon Inc (ONTY), Republic Airways Holdings Inc. (RJET), Synergy Pharmaceuticals, Inc. (SGYP), Smart Balance, Inc (SMBL), SunPower Corporation (SPWR), and USG Corporation (USG).