Day Trading with Hary Boxer

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AMLN, EAT, FAST, ROVI - Stock Charts to Watch RSS

Charts of the Day video for Mon April 23rd 2012

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

We’re going to cover both long and shorts, and although the stock market didn’t do well as whole on Monday, some of the longs did very well as some of the shorts did very well as well. So, we’ll take a look at both, and see what might be in store for some them over the next few days, or weeks, depending on the market.

Amylin Pharmaceuticals, Inc. (AMLN) is acting extremely well. On Monday it was up 3.14 to 26.06, or 13.7%, on 12.3 million shares traded. It got above the spike high that it reached at the end of March, and since then, a flag has formed in the last 2 1/2 - 3 weeks. It gapped up on Monday, ran, and it may be the beginning of a move that takes this as high as somewhere in the 32 - 33 zone, maybe even 33 1/2. That’s above the swing trade target at the 29 1/2-3/4 range short-term.

Brinker International Inc. (EAT) has a nice report. This stock popped and ran 2.98 to 30.88, or 10.7%, on 7.1 million shares. The pattern that has formed is a kind of wedge. It held the trend-line bottom, moved up, formed the wedge, and then broke out. It was a very good close at the upper end of the range. Look for more upside, something in the 32 1/2 - 33 range short-term.

On the Short Side…

Fastenal Company (FAST), after a beautiful run up, rolled over, and broke hard to the downside, formed a wedge, broke again, had a one-day snapback, and then had a really hard fall on Monday, down 1.84 to 46.37, or 3.8%, on 3 million shares traded. It looks like there may be some more to the downside, perhaps 43, the next target.

Rovi Corporation (ROVI) had key support that held for a couple months, but broke, formed a consolidation, and then tipped below the line of support. It did come back off the lows, but it’s still below it, and at this point, there could still be more downside, possibly a test of the 22 - 23 area short-term.

Other stocks in our Charts for the Day are Barnes & Noble, Inc. (BKS), Dehaier Medical Systems Limited (DHRM), Fonar Corp. (FONR), NewLead Holdings Ltd. (NEWL), Protalix BioTherapeutics, Inc. (PLX), SGOCO Group, Ltd. (SGOC), Constellation Brands Inc. (STZ), Threshold Pharmaceuticals, Inc. (THLD), Vermillion, Inc. (VRML), and Vringo, Inc. Common Stock (VRNG).

Charts of the Day on the short side include Alaska Air Group, Inc. (ALK), Apco Oil & Gas International Inc. (APAGF), American Public Education, Inc. (APEI), CEVA Inc. (CEVA), Gardner Denver, Inc. (GDI), Home Inns & Hotels Management I (HMIN), Joy Global, Inc. (JOY), Life Time Fitness Inc. (LTM), True Religion Apparel Inc. (TRLG), and Westport Innovations Inc. (WPRT).