BIOF, NFLX, ACTG, CRR - Stock Charts to Watch
Charts of the Day video for Mon October 8th 2012
We’ll be taking a look at charts on both the long side and short side here.
BioFuel Energy Corp. (BIOF) had a big run-up, a falling wedge, a pop, and then another mini wedge. It held support and a pullback on low volume, and on Monday, it spiked up a little higher, up 1.20 to 6.36, or 23%, on 727,000 shares. The recent spike high around 6.60 is what to look for Tuesday morning. If it gets through that, this stock could run back up to 8-8.25. So watch for a pop, particularly if the volume is good.
Netflix, Inc. (NFLX) had a big breakout day. The major declining topsline that has formed over the last 9 months or so was broken with a breakaway gap on Monday, up 6.96 to 73.52, or nearly 10 1/2%, on 13 million shares. It’s the fourth or fifth day this stock has been up. It may soon get up to the mid 80’s, so keep an eye on this one.
Stocks on the Short Side…
Acacia Research Corporation (ACTG) has been on the Boxer Shorts list for a few months now, and has a long wedging-type pattern. It rolled over, bounced, and then rolled over hard on Monday, down 1.99 to 23.14, or nearly 8%, closing right at the bottom of the channel. At this point, it could come down, and come down hard into the high teens for starters.
CARBO Ceramics Inc. (CRR) is forming a little bear-flag consolidation at support, but if it breaks, it could move to 55. Currently, it’s sitting at 63.15.
Other stocks in our Charts of the Day are BioFuel Energy Corp. (BIOF), Cleveland BioLabs, Inc. (CBLI), Delcath Systems, Inc. (DCTH), Fonar Corp. (FONR), and Francesca’s Holdings Corporation (FRAN), Frontline Ltd. (FRO), Impac Mortgage Holdings Inc. (IMH), Millennial Media. Inc. (MM), Netflix, Inc. (NFLX) , REEDS, Inc. (REED), Sandstorm Gold Ltd. (SAND), and Vringo, Inc. (VRNG).
Stocks on the short side include Acacia Research Corporation (ACTG), CEC Entertainment Inc. (CEC), The Chefs' Warehouse, Inc. (CHEF), Con-way Inc. (CNW), CARBO Ceramics Inc. (CRR), Deckers Outdoor Corp. (DECK), World Fuel Services Corp. (INT), Lincoln Electric Holdings Inc. (LECO), and Raven Industries Inc. (RAVN).