The stock market had a good start to the week on Monday. Not the best, but it was a positive session. Some of the stocks we follow or traded did well. Let’s take a look at some of those.
The Habit Restaurants, Inc. (HABT) had a big day on Monday, opening at 36.00, running up to 39.92, and closing at 39.56, up 4.39, or 12 1/2%, on 1.65 million shares. It has 5 1/2 days to cover. As it broke out of the base, it got up near resistance. If it extends, look for it to reach up toward the 43-44 zone.
Jumei International Holding Limited (JMEI) has had some impressive action. It had the declining topsline, the base, the breakout, consolidation, rising moving average, and then the first pullback after the crossing over was my favorite buying opportunity. From 15 1/2, or so, it’s run up to 23.00, and now it’s consolidated. In the last day, or two, it reversed, and then popped on Monday, up 50 cents to 21.83, or 2.34%, on nearly 2 million shares. If it follows through, look for 22.90. Beyond that, 25 3/4, and 27 are the next targets.
Westport Innovations Inc. (WPRT) broke out across resistance on Monday, opening at 4.78, running up to 5.25, before pulling back to 5.21, up 47 cents or 10%, on 1.4 million shares. Look for a move that takes it to the 6 range, maybe even as high as 6 3/4 short-term.
Olympic Steel Inc. (ZEUS) exploded with a breakaway gap on Friday, and followed through with a nice gap on Monday, up 2.24 to 15.94, or 16.3%, on 358,000 shares traded. It took out resistance. It would not be surprising to see it run up to 16 3/4, maybe even as high as 18 3/4. Two consecutive breakaway gaps, and an increase in volume, are pretty good, although it’s still low volume. Trend channel has been broken, expecting to see reversal. However, on an intermediate basis, look to see if the zone at 21 3/4 can be tested.
Other stocks on Harry’s Charts of the Day included Array BioPharma, Inc. (ARRY), BroadSoft, Inc. (BSFT), Digital Ally Inc. (DGLY), Chanticleer Holdings, Inc. (HOTR), InterCloud Systems, Inc. (ICLD), Ocwen Financial Corp. (OCN), Shake Shack Inc. (SHAK), TASER International Inc. (TASR), Vimicro International Corp. (VIMC), and Youku Tudou Inc. (YOKU).