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MOV, PETM, ROSG, SWI - Stock Charts to Watch RSS

Charts of the Day video for Wed May 23rd 2012

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Charts of the Day video analysis of key stocks in play

Wednesday was a pretty interesting day on Wall Street. They were down early in the morning, it looked kind of dire, but then I saw the falling wedges, and thought we could rally back. It was a much sharper rally than I anticipated, and a darn good close one for the market. Let’s see if we get a follow-through on Thursday. In any case, here’s about a dozen interesting stocks that we’ll cover.

Movado Group, Inc. (MOV) had a nice day on Wednesday. It’s been in a rising channel for the last eight or nine months, and has gone from the 11 range, up to the high 20’s, reaching near 30 recently. It had a big down day to test the 50 and bounced, then it had another drop to retest a gap in mid-March, which held, and then a retest of the 50-day moving average, which was also a reversal, and the sharp spike up on Wednesday, which took it up 2.92 to 28.86, or 11%, on nearly a million shares. That’s the best volume we’ve seen on an up day in a couple years. The juxtaposition of a major trend line comes in at about 32 1/2, which is the next potential target for this stock.

PetSmart, Inc. (PETM) had a huge day on Wednesday, and broke up to a key multi-month resistance level with a breakaway gap on earnings. It gapped up big time and broke through the highs, closing at the upper end of the range, up a whopping 7.30 higher to 62.92, or 13.12%. It had a strong 7.5 million traded, which now sets this up for a run up at the trend line around the 66 area, which is the next target.

Rosetta Genomics, Ltd. (ROSG) has had a spectacular move in the last few days. Tuesday, it had an inside day on volume, and on Wednesday, it popped out of that to key resistance, looking for a quick test of 12.90, maybe 13, coming up short-term. It popped 3.61 to 11.24, or 51%, on 6.2 million shares. If it gets a follow-through, it could be explosive, into the mid-teens for starters.

SolarWinds, Inc. (SWI), which had been in a beautiful rising trend this year, and one of the Top 20 for the year, had a falling wedge in December, and then moved from the high 20’s up to the high 40’s, formed a flag for about two weeks, and on Wednesday, it reversed from 44.64 to 48, closing up 2.40 to 47.88, or 5.28%, on 939,700 shares. The volume wasn’t spectacular, but close to a million shares traded. The target for this one is in the 52-3 zone short-term.

Other stocks in our Charts for the Day are cpwr, Expedia Inc. (EXPE), Glu Mobile, Inc. (GLUU), RailAmerica, Inc. (RA), Stratasys Inc. (SSYS), Synacor, Inc. (SYNC), Threshold Pharmaceuticals, Inc. (THLD), Westport Innovations Inc. (WPRT).