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AMRN, GMAN, CSH, NPK - Stock Charts to Watch RSS

Charts of the Day video for Tue March 20th 2012

Charts of the Day Download MP4
Charts of the Day video analysis of key stocks in play

The Dow Jones and Stock Market were up on Tuesday. There were many stocks that continued to break out to the upside. The stock market is very interesting to watch right now. The Charts of the Day is featuring 12 longs and 12 shorts in this segment. Below are the highlighted stocks.

Amarin Corporation (AMRN) has just been ripping lately. Over the last 6-7 sessions, it has moved from 7 to 12, and change, on a big thrust in volume. On Tuesday it was up 1.28 to 11.94, or 12%, on 22 million shares traded. The target around 13-13.35 may very well be reached very shortly.

Gordmans Stores, Inc. (GMAN) had a big move on Tuesday, up 4.00 to 19.44, or 26%, on 521,000 shares, which is big volume for this stock. It formed a beautiful base over the last 6 months, a breakaway gap, and a strong surge to secondary resistance up around 19 1/2 - 3/4, which is the target on this stock. Should it get through that, look for a move that test the high up around the 23 area.

On the Short Side…

Cash America International, Inc. (CSH) has a long down trend under way, with a massive top that broke down. It snapped back, formed a wedge, broke down again, and formed a rising wedge. It backed off 1.16 on Tuesday to 46.59. If it fails here, and falls to 45 1/2, this stock could plunge down near 42 very quickly, maybe lower. The long-term chart shows vulnerability in the high 30’s.

National Presto Industries, Inc (NPK) took quite a plunge a couple weeks ago. It dropped straight down from 101 down to the 75-76 range. It did bounce, but all it really did was form a bear wedge. If it comes down any further and cracks, it could go down and test the 70 range, which is the target for this stock.

Other stocks in our Charts for the Day are Affymax, Inc. (Affymax, Inc. (AFFY), Carmike Cinemas, Inc. (CKEC), Clean Energy Fuels Corp. (CLNE), FSI International, Inc. (FSII), Galena Biopharma, Inc. (GALE), Neutral Tandem, Inc. (IQNT), Lions Gate Entertainment (LGF), Perfect World (PWRD), Recon Technology, Ltd. (RCON), and Westport Innovations Inc (WPRT).

On the short side, the Charts of the Day include Alliant Techsystems Inc. Common (ATK), American Public Education, Inc. (APEI), Deckers Outdoor Corp. (DECK), Northwest Natural Gas Co (NWN), RealPage, Inc. (RP), Silicon Graphics International Corp. (SGI), True Religion Apparel, Inc. (TRLG), Watson Pharmaceuticals, Inc. Co (WPI), and WebMD Health Corp (WBMD).