The stock market had another good day on Thursday, so we’ll take a look at the long side at some key breakouts.
Medivation, Inc. (MDVN) has been a star ever since it gapped in November, which was noted, and a coil followed. Since then, it’s gone from 40 all the way up to 76. On Thursday, it was up 8.72 to 72.91, or 13 1/2%, on 5 million shares. It’s in a beautiful rising channel, and the top of the channel measures in the high 90’s, which is the intermediate target. The short-term target is set at 84.
Flotek Industries, Inc. (FTK) has been acting well. It held support, and then bounced on Thursday with a gap above the 50-day, up 1.02 to 12.06, or 9.24%, on 4.8 million shares. That was very significant. It did not manage to go out and up across the 1266 level, though. Look for a move across 12 3/4 to get it up above 13 3/4. On a long-term basis, it has the potential to get up into the 20’s.
Arctic Cat Inc. (ACAT) has been terrific. It reached some new all-time highs. It broke out, did some popping and flagging, coiled, broke out of that, and has been in a rising channel. It has barely touched the 21-day moving average, let alone the 50-day. On Thursday, it was up 1.73 to 40.76, or 4.4%. Look for some more movement on that one.
Dunkin' Brands Group, Inc. (DNKN) made another multi-year high on Thursday as it broke out above the consolidation zone. It ran up 1.02 to 30.19, or 3.5%, on 1.4 million shares. The next target is around 32-32 1/2.
Other stocks in our Charts for the Day are Threshold Pharmaceuticals, Inc. (THLD), TearLab Corporation (TEAR), Mueller Water Products (MWA), The Bon-Ton Stores, Inc. (BONT), Hot Topic, Inc. (HOTT), NetQin Mobile Inc. (NQ), ChipMOS Technologies (IMOS), Global Cash Access Holdings (GCA), Mitek Systems, Inc. (MITK), Qihoo 360 Technology Co. Ltd. A (QIHU), Glu Mobile Inc. (GLUU), Dunkin' Brands Group, Inc. (DNKN), Valero Energy Corp. (VLO), Jarden Corp (JAH).