BOIL, IGT, JIVE, UNG - Stock Charts to Watch
Charts of the Day video for Thu June 14th 2012
It was another good day for the stock market on Thursday. We were down on Monday, up on Tuesday, down on Wednesday, and up on Thursday. What a week. It was a crazy market, and a volatile market, but also a good trading market. So let’s take a look at some of those stocks that are doing well.
ProShares Ultra DJ-UBS Natural Gas (BOIL) was in an uptrend all day on Thursday, but more importantly, it broke the downtrend that’s recently been in place. It thrust on pretty good volume for that stock, up 8.28 to 38.86, or 27%, on 451,000 shares traded. That’s pretty good volume for that stock. It broke out across the 21- and 50-day moving average as well as the 10-day. It could be a significant move. We’ll have to see if it gets to resistance right after the 38.86, which is where it’s at right now. So if it gets a follow-through on Friday, it may very well move up into the low- to mid-40’s.
International Game Technology (IGT) had a big day on Thursday. It exploded, going from 13.97 to 15.19, and closed at 15.12, up 1.90, or 14%, on a whopping 17 million shares. It closed above the 50-day moving average, but more importantly, it exploded out of a 2-month channel on the biggest volume all year. Look for a follow-through to get this to 16 1/2 short-term, and then, close to 18 intermediate-term.
Jive Software, Inc. (JIVE), after the big run up post-IPO, it rolled over hard to retest, broke out, pulled back for a couple days and got quiet, and then on Thursday, it popped again, up 1.94 to 18.67, or 11.6%, on 2.2 million shares. That’s the heaviest volume this stock has seen in a while. At this point, look for a test of the 50-day moving average at about 20 1/2, and beyond that, 21 1/2-3/4.
United States Natural Gas (UNG), another natural gas ETF that did very well on Thursday, jumped 2.28 to 17.53, or 15%, on 27.6 million shares. At this point look for a retest of 19 3/4 short-term, and beyond that, 21-22 intermediate-term.
Other stocks in our Charts for the Day are Arena Pharmaceuticals, Inc. (ARNA), Digital Generation, Inc. (DGIT), Dunkin' Brands Group, Inc. (DNKN), Glu Mobile, Inc. (GLUU), General Moly, Inc. (GMO), Isis Pharmaceuticals, Inc. (ISIS), Pilgrim's Corp. (PPC), Smart Balance, Inc (SMBL), Spreadtrum Communications Inc. (SPRD), Vringo, Inc. (VRNG).