It was a pretty good day on Wall Street on Thursday, and the indices held up very well considering Wednesday’s head-and-shoulder patterns. So we’ll go over some of the stocks that stood out on Thursday.
Carrizo Oil & Gas, Inc. (CRZO) had a significant day on Thursday. It held, moved up, pulled back one more time, and then thrust, going from 26 1/2 to 30 1/2, and on Thursday, it popped 2.12 to 30.29, or 47 1/2%, on 2.3 million shares. It could break out across the neckline. At this point, look for a move up into the 34 range short-term.
Jive Software, Inc. (JIVE), a recent IPO, is also trading very nicely. Recent action indicates that it broke out to new all-time highs, up 1.57 to 23.38, or 7.2%, on 700,000. If the current ascent continues, this stock may very well spite up into the 25 - 26 zone.
Michael Kors Holdings (KORS) has been phenomenal. It has gone from the low-20’s to the 46 1/2 range in the last 3 months, and looks like it may trend higher. The top of the channel indicates the mid-50’s is possible. Let’s call it 49 - 50 short-term, and then 53 - 55 intermediate-term.
Pharmacyclics Inc. (PCYC), one of our Top 25 for the year, jumped 1.21 to 26.40, or 4.8%, on 1.5 million shares. That’s the biggest volume in about 3 weeks. The action may have broken out of a little wedge, or coil. If this holds up, it may even get as high as 32 - 34.
Other stocks in our Charts for the Day are Sino Clean Energy Inc (SCEI), MEMSIC, Inc. (MEMS), Veolia Environn American Deposi (VE), Liz Claiborne Inc. (LIZ), Zynga Inc. (ZNGA), Fusion-io Inc. (FIO), Cheniere Energy, Inc. (LNG), Carrizo Oil & Gas, Inc. (CRZO), Jive Software, Inc. (JIVE), Mitek Systems Inc. (MITK), Glu Mobile, Inc. (GLUU), Michael Kors Holdings (KORS), VocalTec Communications Ltd. (CALL), Pharmacyclics Inc. (PCYC), U.S. Home Systems, Inc. (USHS), Discovery Laboratories, Inc. (DSCO), Achillion Pharmaceuticals, Inc. (ACHN).