These are the Charts of the Day. It was a wild and crazy day on Wall Street on Tuesday. It’s like the market doesn’t know what to do, but it’s a great time for trading. Let’s take a look at some longs and see how they’re doing.
Alcoa Inc. (AA) has been wonderful. It trended up beautifully in the last several weeks, going from the 8.00 level to over 14.00. It bounced three or four times up in that 13.20 zone, and on Tuesday, it got up to 13.08. If it can get through 13.20, it could head up toward 14 1/2, and then 16.
Akebia Therapeutics, Inc. (AKBA) is a fairly new biotech stock. The biotechs have been getting hammered, but this stock is going in the opposite direction, up 1.12, or 5.3%, on 806,000 shares traded. It popped out of the falling wedge after the IPO, and had a positive inside day on Tuesday. If it can get above the 22 1/2-23 level, then it could be a 28-dollar stock. Keep an eye on this one. It has a rather intriguing pattern so far.
Rambus Inc. (RMBS) has been moving up very quietly since last April, when it was trading at about 5 1/2. It more than doubled. Recently it had a breakout and pullback twice. It looks like this could be a 16-dollar stock. That’s the swing trade target on this one.
U.S. Silica Holdings, Inc. (SLCA) was making new highs on Tuesday, up 1.63, or 4%, on 2.2 million shares, reaching new all-time highs at 41.25. The price resistance was taken out and tested as well as the 21-day moving averages. The next target is 44-45, and then the high 40’s.
Other stocks on Harry’s Charts of the Day are BioFuel Energy Corp. (BIOF), EnerNOC, Inc. (ENOC), FX Energy Inc. (FXEN), Halc (HK), Kodiak Oil & Gas Corp. (KOG), Maxwell Technologies, Inc. (MXWL), SuperCom Ltd. (SPCB), and Vertex Energy, Inc. (VTNR).