Uploaded by thetechtrader on Jan 11, 2012
1/11/12 - There are so many stocks breaking out, and so many stocks looking good, in particular the solar energy group, which took off on Wednesday. In addition, some of the biotech stocks are still acting great. We'll take a look at a few of them.http://www.TheTechTrader.com
JinkoSolar Holding Co., Ltd. (JKS) exploded out of a 2-month coil at the bottom of the basing pattern after a long decline. This stock dropped from the 40-range, all the way down to 4 and change. Finally, it popped on Wednesday, up 1.67 to 6.88, or 32%, on 3.8 million traded. It exploded through the declining topsline, and the 50-day, and got up to what looks like a potential resistance around 7.45 - 8.00. If it gets through there, look for an extension on this move around 9 1/2 - 9 3/4, which could possibly happen over the next few days. It could very well back and fill in this area, and flag first.http://www.TheTechTrader.com
Trina Solar Ltd. (TSL), which dropped from 32 down to 5 and change, formed a basing, coiling-type pattern, and on Wednesday it exploded for 2.13 to 9.48, or 29%, and closed at the very upper end of the range of resistance on a whopping 12.8 million shares, which is huge for that stock. That breaks it out. Look for more upside, potentially, up toward the 12 1/2 - 13 zone, which will be the swing trade target. Let's see if it gets a follow-through tomorrow.http://www.TheTechTrader.com
Human Genome Sciences Inc. (HGSI), one of the leaders in the biotech group, up 1.41 to 9.44, or 17 1/2% on Wednesday, on 21 million shares. It spiked up through the 50-day in a mini-base pattern. It has not broken out of the declining topsline just yet. There's resistance up in the 10 - 11 zone. That is the immediate short-term target. If it accelerates, this stock could move into the 15 - 16 zone. http://www.TheTechTrader.com
CROCS Inc. (CROX) had a good day on Wednesday, up 2.61 to 18.56, or 15%, on 13.5 million shares. It gapped up and ran across resistance, and then spited up and closed right at, or near the November high, and just touched the gap area. If it fills that gap, look for a move up to 21 for CROX. http://www.TheTechTrader.com
Dendreon Corp. (DNDN) had another good day on Wednesday, and the secondary resistance at the August, or snapback, highs was taken out when they reached 14.52. They closed not far off that high at 14.35, up 1.52, or 11.9%, on 24.6 million shares, which is huge volume. At this point, this stock may run to the high teens, maybe even the low 20's before it gets a potential pullback.http://www.TheTechTrader.com
Other stocks in our Charts for the Day are Yingli Green Energy Holding Co. Ltd. (YGE),
LDK Solar Co., Ltd. (LDK), Canadian Solar Inc. (CSIQ), China New Borun Corporation (BORN), DexCom, Inc. (DXCM), BroadVision, Inc. (BVSN), KB Home (KBH), Mitek Systems Inc. (MITK), Idenix Pharmaceuticals Inc. (IDIX), Global Cash Access Holdings, Inc. (GCA), Pharmacyclics Inc. (PCYC), VocalTec Communications Ltd. (CALL).
http://www.TheTechTrader.com
Harry's Charts of the Day, published each evening Monday through Thursday, features Harry Boxer's video technical analysis on a stock in play. To learn which stocks Harry is trading or discussing intraday, sign up for a Free 15-Day Trial to his Technical Trading Diary -- which includes both day trades and swing/intermediate-term stock picks. http://www.TheTechTrader.com
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