These are the Charts of the Day. We’re still looking at the long side. The stock market, despite mixed technicals and mixed indices on Thursday, we still have a lot of our stocks in trends, but a lot of them get long in the tooth. Let’s take a look at some that look great, maybe a little extended, and some that aren’t.
Energy Recovery, Inc. (ERII) had a big day and a very nice day. The long declining channel took about six months to form. After the big run-up, it made a 3-wave corrective move, and then moved back above the moving averages, and consolidated. The breakaway gap on Thursday was very vital. A thrust of 7.6 million shares traded was the biggest volume ever on this stock, up 1.74, or 36.6%. It opened at 5.75, ran up to 6.98, and closed at 6.49. It wouldn’t be surprising to see this stock hit its all-time high at 7 1/2-3/4 short-term, maybe as early as Friday. Then we’ll see what it does after that.
Hawaiian Holdings Inc. (HA) is looking intriguing as this stock is at a multi-year, all-time high. It formed a base pattern that lasted for several years. The current pattern is showing a really nice rising channel. On Thursday, it was up 1.10, or 8.4%, on 6.8 million shares. That’s a very big move for HA. It opened at 13.51, ran up to 14.33, and closed at 14.16. That’s something we’ve never seen before on this stock. Perhaps it will get some momentum and get to the 15-16 range. Once it gets up there, we’ll see what happens.
Rigel Pharmaceuticals, Inc. (RIGL) had a significant day on Thursday. After coming out of the long down channel and retesting it, and retesting the 50-day moving averages, it bounced to a major declining topsline, and backed off to test one more time before running the last four days straight from 3 1/4 to Thursday’s high of 4.99. There’s resistance there so it’s not surprising it pulled back. Look for more upside to 6.00, and then 7.00.
TherapeuticsMD, Inc. (TXMD), a current swing trade, had a nice spike-up on Thursday, getting up to the target around 9, and then pulled back. Not a good close, only up 37 cents, or 5%. Let’s see if there’s any kind of consolidation that follows. If it gets through the 9.00 range, it could get very interesting.
Other stocks on Harry’s Charts of the Day are Arotech Corporation (ARTX), E-Commerce China Dangdang Inc. (DANG), Dehaier Medical Systems Limited (DHRM), Energy Recovery, Inc. (ERII), Federal National Mortgage Association (FNMA), Logitech International SA (LOGI), Sky-mobi Limited (MOBI), Navios Maritime Holdings Inc. (NM), Pixelworks, Inc., Real Goods Solar, Inc. (RGSE), Rosetta Genomics, Ltd. (ROSG), Sangamo Biosciences Inc. (SGMO), Tekmira Pharmaceuticals Corp. (TKMR), Trina Solar Limited (TSL), WMI Holdings Corp. (WMIH), World Wrestling Entertainment Inc. (WWE), and Ixia (XXIA).