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AZPN, GLNG, IMH, PBH - Stock Charts to Watch RSS

Charts of the Day video for Thu November 1st 2012

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Charts of the Day video analysis of key stocks in play

We’re going to be looking at the long side here. The stock market had a fabulous day on Thursday, and we see a lot of stocks trending, breaking out, and making important technical moves, so let’s take a look at some of them.

Aspen Technology, Inc. (AZPN) has had a beautiful rising channel this past year or longer. In particular, its recent action shows a run up, a wedge or coil that developed over a 6- or 7-week period, and on Thursday, it exploded out of it, up 2.12 to 26.90, or 8.56%, on 1.4 million shares. That was the biggest volume on an up-day in a long time. It’s significantly enough that it took out the September high and has gone to a new multi-year high. It has a major trend channel top and is right up against it. If it gets through that, it will spike up into the 30-range.

Golar LNG Ltd. (GLNG) had a nice day on Thursday. A consolidation took place after it snapped out of the down trend from Jan to June. It broke out in July, ran up to resistance, and then consolidated for a couple-three months here. On Thursday, it spiked up 3.90 to 42.80, or 10%, on 1.9 million shares. If it gets through resistance, the short-term target is 45, but the secondary target, and the more important target, is up around 47.

Impac Mortgage Holdings Inc. (IMH) had a wonderful move on Thursday. This stock is very symmetrical and moving up in nice bull consolidation. On Thursday, it popped 3.12 to 13.22, or 31%, on nearly a million shares. That’s the biggest volume since the breakout in August. The target at 14 1/2-3/4 may happen as early as Friday.

Prestige Brands Holdings, Inc. (PBH) had a nice pop on Thursday, up 3.21 to 20.60, or 18 1/2%, on 665,000 shares. It had a key breakout above an extending wedge, and a parallel channel could move into place up around the mid 20’s, which is the target.

Other stocks in our Charts of the Day are Arch Coal Inc. (ACI), Builders FirstSource, Inc. (BLDR), Bon-Ton Stores Inc. (BONT), Peabody Energy Corp. (BTU), Gentiva Health Services Inc. (GTIV), InterDigital, Inc. (IDCC), NXP Semiconductors NV (NXPI), Radian Group Inc. (RDN), Research In Motion Limited (RIMM), Sarepta Therapeutics, Inc. (SRPT), and USG Corporation (USG).