Day Trading with Hary Boxer

Day Trading, stock picks & technical analysis with Hary Boxer

CRUS, INCY, PATK, SWI - Stock Charts to Watch RSS

Charts of the Day video for Thu April 26th 2012

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

It was a big day on Wall Street on Thursday, and there were a lot of stocks on the long side looking extremely well. So we’ll continue looking at some of those.

Cirrus Logic Inc. (CRUS) has had some really good action. The pattern over the last several years shows a base consolidation a couple times, and then a 2-day base that was broken out. A wedge formed, a breakaway gap took it out, it stair-stepped its way up to resistance, and backed off sharply. Wednesday it turned it around with a gap, and on Thursday, it gapped through the declining topsline and lateral price resistance, and popped 4.30 to 27.39, or 18%, on 15 million shares. Although it’s at the top of the channel, there may be a pullback consolidation, and on a long-term basis, look for it to head up toward the low-30’s.

Incyte Corporation (INCY) had a significant move as it broke of out a spike high from last year, and the recent high, with a thrust. It was up 2.53 to 21.93, or 13%, on 6.3 million shares on Thursday, closing just 3 cents off the high. Look for it to get up into the 24 – 25 zone short-term.

Patrick Industries Inc. (PATK) had a significant day on Thursday, after holding support for several weeks, the trend line had a breakaway gap. Reaching up near the high, it did back off about 1.20 off the high, but it was still up 2.50 to 11.44, or 28%. The way the channel is looking, the next target is up around 17.

SolarWinds, Inc. (SWI), one of our top favorites for this year, has had a fantastic chart in the last two years. It was up a whopping 7.56 to 45.38, or 20%, on 4.2 million shares on Thursday. Since last September, it has gone from 20 to 46, and it looks like it could get up another 4 - 5 points, up around the 50 area.

Other stocks in our Charts for the Day are Amarin Corporation (AMRN), Cheniere Energy Partners (CQP), Dunkin' Brands Group, Inc. (DNKN), Glu Mobile, Inc. (GLUU), Halc (HK), Marinemax Inc. (HZO), Jarden Corp. (JAH), Cheniere Energy, Inc. (LNG), Logitech International SA (LOGI), Mitek Systems Inc. (MITK), NewLead Holdings Ltd. (NEWL), SGOCO Group, Ltd. (SGOC), Threshold Pharmaceuticals, Inc. (THLD), VIVUS Inc. (VVUS).