It was a great day for the stock market on Tuesday, and there were quite a few movers. It went right up to key overhead resistance, and backed off a little. We’ll have to see whether it can reach Tuesday's high in the next few days. If that occurs, it could be on its way to higher levels. So, let's take a look at the long side, since there were so many stocks that did very well.
BioDelivery Sciences International (BDSI) popped 34 cents to 3.25, or 11.7% on Tuesday. After the big surge in January, it formed a wedge that popped, then formed another wedge that popped, it stalled at the resistance level for a few days, flagged, and then moved up steadily from the 2.45 range all the way up to 3.27. At this point, it’s very likely that this stock will make a run up to the 4.00 range short-term.
Cheniere Energy, Inc. (LNG) continues to look good, up 61 cents to 17.60, or 3.6%, on 14.7 million shares traded on Tuesday. This stock has been in a rising channel since January, and has gone from 8.00 all the way up 18.01. It could take out the line of resistance at 17.60, and then it could very well get up to the 22 - 23 zone short-term.
MIPS Technologies, Inc. (MIPS) popped 3 days ago, pulled back for a day, and then it popped again on Tuesday, up 69 cents to 6.97, or 11%, on 3.5 million shares. It got right up to, and closed near, the highs for the day. The next target is up around 8 1/4 - 8 1/2 short-term.
Stratasys Inc. (SSYS) completed an acquisition on Tuesday. It pulled back, and stopped a little bit more, before it backed off again. It popped 1.66 to 42.87, or 4% on Tuesday, and could get as high as the 52 - 53 range short-term.
Other stocks in our Charts for the Day are Feihe International, Inc. (ADY), Amylin Pharmaceuticals, Inc. (AMLN), Cleantech Solutions International, Inc. (CLNT), Endocyte, Inc. (ECYT), NewLead Holdings Ltd. (NEWL), Spanish Broadcasting System Inc. (SBSA), Threshold Pharmaceuticals, Inc. (THLD), Top Image Systems Ltd. (TISA), and ValueClick, Inc. (VCLK).