AEO, CALX, PZZA, WWWW - Stock Charts to Watch
Charts of the Day video for Wed May 2nd 2012
The stock market had a pretty interesting day on Wednesday, up in the morning, down in the afternoon, and closed mixed on the day well off the highs. It was a good come-back session for many of our stocks, though, so let’s take a look at them.
American Eagle Outfitters, Inc. (AEO), after being in a beautiful rising channel the last 7 or 8 months, gapped up on Wednesday through the top of the channel and lateral resistance, and closed very nicely, up 3.01 to 20.90, or nearly 17%, on 25 million shares. That was a big day for this stock as it had a significant breakout through multi-year, 4-year highs. Next target is set at 24.
Calix Inc. (CALX) broke out of a downward channel on Wednesday, with a pop of 1.32 to 8.92, or 17%, on 2.3 million shares, the biggest volume in a couple months. It broke not only up through the declining topsline, but the 50-day moving average as well. Resistance should be tested at 9 3/4 – 9.80 short-term, and 12 1/4-1/2 as a secondary target.
Papa John's International Inc. (PZZA) had a big day on Wednesday after earnings came out. This stock exploded and popped 7.87 to 47.36, or 20%, on 1.2 million shares. This is the highest level it’s reached in its history. At this point, the long-term pattern shows that if it does accelerate to the top of the long-term channel, it may very well get more upside. The next target is in the mid-50’s.
Web.com Group, Inc. (WWWW) also had a big day on Wednesday, up 2.53 to 15.39, or 19%, on 2.8 million shares. That’s the biggest volume going all the way back to August of last year. It’s now right at the March 2011 level, and if it follows through, it could reach the top of the channel near the 18 1/2 – 19 zone.
Other stocks in our Charts for the Day are Aspen Technology, Inc. (AZPN), Avis Budget Group, Inc. (CAR), Cleantech Solutions International, Inc. (CLNT), Cray Inc. (CRAY), Sourcefire, Inc. (FIRE), FormFactor Inc. (FORM), Hudson Technologies Inc. (HDSN), Hot Topic Inc. (HOTT), Key Tronic Corp. (KTCC), Sky-mobi Limited (MOBI), opwv, Patrick Industries Inc. (PATK), Synacor, Inc. (SYNC), and USG Corporation (USG).