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CZR, MERU, SRPT, UNXL, ZNGA - Stock Charts to Watch RSS

Charts of the Day video for Thu February 28th 2013

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What a day it was on...

What a day it was on Wall Street on Wednesday. The stock market took off and kept on going, only at the end it dipped a little bit, but it was a strong day technically. The volume could have been a little better, but it still did well. Since we had such a great up-day, we’ll take a look at the long side here.

Caesars Entertainment Corporation (CZR), an online gaming company, was firm on Wednesday, but only up a nickel, though. More importantly is the explosive move it made the first and second week of February, going from around 8.54 all the way up to near the 14.00 level. It pulled back, but of late, it’s been pressing back up. For three days, now, it’s been holding around 12. It may be going to make a move here. Watch the 12.75-.80 range. If it does get through there, the next target is 14.90-15.00, thereabouts initially, and then we’ll see what we get from there.

Meru Networks, Inc. (MERU) is a swing trade of ours. We called it on the breakout. It ran up for a couple days and backed off. Very low volume on the pullback. That’s bullish action. The falling wedge of sorts that formed was broken with a breakaway gap, and it ran up 81 cents to 4.91, or almost 20%, on 2.9 million shares. In early 2012, this stock reached 5.38. Wednesday’s high was 4.91. There’s still a little more room to go. If it gets through this area, it may be tested as early as Thursday. Secondary target is 8 1/2.

Sarepta Therapeutics, Inc. (SRPT) had a nice day on Wednesday, particularly late in the session. For the last two weeks, this stock has moved from 25.90, or so, up to 32.40, a nice 30-35% run-up. More importantly, a coil has developed. After the big run-up during the July-Oct period, it literally went from 3.00 to 44.00, pulled back and has now settled in. On Wednesday, it popped 2.48 to 31.51, or 8.5%, on 3.8 million shares. That’s the biggest volume on an up-day since November. It could follow through, so watch this one on Thursday.

Uni-Pixel, Inc. (UNXL) finally got the top that we were looking for, and the volume as well. It pulled back yesterday and rested on the trend line and lateral price support. It gapped up, and then popped on Wednesday, up 4.00 to 22.80, or 21%, on 2.7 million shares. Look for more upside, possibly to 25 on Thursday, and then up towards 29, which is the intermediate target.

 

Zynga (ZNGA) broke out above a key 3.30 in early February, pulled back, and has broken through that again.   Now it needs to move through 3.60-.70 for a next target of 4.40-.44 and then beyond that 6-6 1/4.

Other stocks on Harry’s Charts of the Day are Conns Inc. (CONN), Sourcefire, Inc. (FIRE), Guidewire Software, Inc. (GWRE), Impac Mortgage Holdings Inc. (IMH), Jive Software, Inc. (JIVE), Mitek Systems Inc. (MITK), NXP Semiconductors NV (NXPI), Optimer Pharmaceuticals, Inc. (OPTR), Sangamo Biosciences Inc. (SGMO), Xinyuan Real Estate Co., Ltd. (XIN), and Zogenix, Inc. (ZGNX).