GWRE, IMH, SAND, XXIA - Stock Charts to Watch
Charts of the Day video for Thu October 4th 2012
It was an interesting day on Wall Street on Thursday as they ended the day in the green column. So we’re going to take a look at the long side here. There’s a lot of junior biotech stocks and smaller-type stocks that are moving.
Guidewire Software, Inc. (GWRE), which we put a swing trade on, pulled back, moved up, pulled back again to test resistance. The breakout point was tested in two places, it formed a wedge, and on Thursday, it broke out, up 1.18 to 32.15, or 3.8%, on 1 million shares. That’s the best volume in a week and a half. If it can get up to the highs around 32.15, we should see the 35-6 zone, and then a secondary target around 38 1/2.
Impac Mortgage Holdings Inc. (IMH) has a fantastic chart, and has had a fantastic pattern all along. The only problem this stock has is volume. It popped, formed a wedge, then surged, formed a 3-week coiling-type pattern along the trendline and moving average, and in the last few sessions it jumped from 6 1/2 up to 10 3/4, which was Thursday’s high. It was up 1.05, or 10.8%, on only 271,100 shares. Look for it to get up to 13 short-term.
Sandstorm Gold Ltd. (SAND) is doing fantastic. The wedge pattern was broken and this stock exploded. It spiked up, pulled back, went right back up and right through the high. It consolidated with a little bit of a pullback, retested, and moved up again on Thursday, up 85 cents to 14.23, or 6.35%, on 1 million shares. The next target is set at 15, and it could hit the target as early as Friday. So keep an eye on this one.
Ixia (XXIA) has been trending nicely as of late. It formed a nicely formed coil, broke out, flagged, and on Thursday it popped 1.05 to 17.17, or 6.58%, on nearly a million shares. It looks like it’s headed up toward 18 short-term, and then look for something up around 21 1/2.
Other stocks in our Charts of the Day are ACADIA Pharmaceuticals Inc. (ACAD), Neuralstem, Inc. (CUR), Genco Shipping & Trading Ltd. (GNK), Homeowners Choice, Inc. (HCII), Mindspeed Technologies Inc. (MSPD), StemCells Inc. (STEM), and Vringo, Inc. (VRNG).