2013 Forcast
The stock market had a good day on Monday to finish off the session and the year of 2012. We’re going over the stocks on our Top 20 List for 2013 here. There are some pretty interesting intermediate and longer-term patterns, so keep a close eye on some of these. We will be following most of them over the weeks and months to come. Aegerion Pharmaceuticals, Inc. (AEGR) based out well during the year, exploded in Oct, consolidated Nov and Dec, moved out again mid-Dec, and made a new high before backing off the last few sessions. The overall pattern on the weekly chart looks like it’s testing the 2011 highs. It looks like it could test the mid 30’s, and then much higher down the road, possibly on a takeover. It does look really good, and it has a nice big base that can support a large move. BioScript Inc. (BIOS), on the weekly charts, shows an overall pattern going as far back as 2003 of a massive, 8-year base, with a head and shoulder-type bottom and multiple tops in the 9.25-.35 range. That was taken out recently. It’s been stair-stepping its way up, broke out, moved up, and has been consolidating. It looks like there’s still more upside on this stock. The targets going forward are going to be up in the mid-teens and beyond. Celsion Corp. (CLSN) has had a massive base as well for six years, which can support a huge move. This stock had a beautiful, 5-wave advance, and now it’s consolidating. Normally, after a 5th wave, I look for a pullback, but with it consolidating as strongly as it is, I would not be shocked to see it breakout at the top of the channel at the 11 range short-term, but on a long-term basis, it looks like this stock is making it back up to the mid-teens, and then maybe even the low to mid 20’s. That’s much further down the road, but I could see that as a possible forecast. Cray Inc. (CRAY) has a large pattern that developed after it spiked off the 2008 lows and consolidated for a 2-3 year period. This stock had a key breakout earlier this year with multiple gaps, and then it’s been trending ever since. Recently, it accelerated up to the top of the channel. Targets on this one are set at 19 on an intermediate basis, and in the mid 20’s on a long-term basis. Cornerstone OnDemand, Inc. (CSOD) has been in an uptrend all year. It’s done very well for the last 12-13 months. Recently, this stock pulled down and broke out as well. On Monday, it was up another 1.06, or almost 4%. It’s right up against resistance, and if it breaks through 30, look for a test of 33. The intermediate target is 38, and the long-term target is in the low 40’s. 8X8 (EGHT) has had a massive move up from under a dollar in 2009, all the way up to the 7.40 range, more than a 7-fold increase in the last 3 years. It’s up against key, long-term resistance, and if it can get back above here, then look for a move that will potentially take it into the low-teens, and then the mid to high teens. We’ll see what happens beyond that. Ellie Mae, Inc. (ELLI) has been up strongly in the last year. It exploded out of the base earlier this year and ran up from a single digit to the high 20’s, actually trading over 30 at one point. For the last few weeks it had been consolidating, broke back out recently to test resistance, and is now consolidating again. Watch for this to get over 30-30 1/4, and if it gets over 301/2 on strong volume, the long-term channel shows this stock running into the mid 30’s, and then the 40’s. So keep an eye on this one for sure. First Solar, Inc. (FSLR), which came all the way down from the 300-plus range a couple years ago, and 150 at the beginning of 2011, dropped all the way down to the 11.00 range, and then broke back out in August, coiled, broke out again in November, and is currently in a wedge. On Monday, it popped 1.06 and may be breaking out. But more importantly, the long-term chart, and the reason why it’s on the Top 20 List, is that it may be a leader in the solar group and it may have a comeback year in 2013. If it does, it could get up around 40 range intermediate-term, and then the high 40’s long-term. Infinity Pharmaceuticals, Inc. (INFI) is another very interesting stock that had a big move this year with a 6-7 fold increase. It could or could not do that again, but it’s at the top of the channel, and any pullbacks can be used to add to position. Should it go into a consolidation phase, look for entry opportunities because it looks like this one is headed for the high 40’s, and then low to mid 50’s eventually. MagnaChip Semiconductor Corporation (MX) has done very well this year on a daily basis, but in a choppy, stair-stepped manner coming from the single digits all the way up to the mid-teens, more than tripling over the last year or so. On Monday, it stuck its head into new all-time high territory, heading above 16. The longer-term chart pattern indicates a move as high as 20 short-term and the mid 20’s on an intermediate-term basis. NXP Semiconductors NV (NXPI) is in a very unique segment of the semiconductors. The long-term pattern on this stock is a big wedging-type, basing-type pattern, with multiple tops that were tested. It easily reached the 27.96 area, so watch for a move over 28, because, if it gets through that, it could get up into the mid 30’s, and then 40 as a potential target for this stock. PolyOne Corporation (POL) has had a huge move from the early 2009 lows under 1.00 all the way up to 20 and change, more than a 20-fold increase. The long-term charts show massive tops that were taken out, retested, and then the 2011 highs were taken out, and it’s up in new all-time high territory. This could very well see mid to high 20’s, and then low to mid 30’s. Qihoo 360 Technology (QIHU) has an impressive, overall chart pattern and the way it developed. It had a big base that developed, it popped through it, and then pulled back. On Monday, it exploded for 2.36, or 8.6%, on 6.6 million shares. That’s the best volume in 4 weeks. It’s right at resistance. If it gets through here, look for something up around 36-7 short-term, and the mid 40’s intermediate-term. Repros Therapeutics Inc. (RPRX) has been acting very well. It broke out with a big thrust earlier in the year in May, consolidated for 3 months, and broke out again in August, consolidated for 3 months again, and may be ready for a 5th leg up right at key resistance. If that occurs, watch for something in the mid 20’s, maybe even the 30’s on a more intermediate-term basis. Smart Balance, Inc (SMBL) had a wonderful year. It was one of our better swing trades on a couple occasions this year. Key resistance was broken out earlier in the year, retested, and now it’s up against overhead resistance, which goes all the way back to the all-time highs in 2007. If it gets through this level, and it looks like it’s going to, this stock could be a 20-dollar stock. So look for a 19-20 target later this year, but 17 as the short-term target. Santarus, Inc. (SNTS), a junior biotech, has had a beautiful chart this year, with a wonderful pattern that broke out earlier this year in the 3 1/2 range, and ran all the way up to the 11 range, and actually reached as high as 11.43 recently. The chart shows it at the top of the channel but still consolidating. It’s showing no sign of technical deterioration. On a long-term basis, there is some major resistance in 2005 and 2007 that could lead to a run up to 15 3/4-16 intermediate-term. The longer-range target is in the high teens, low 20’s. Sarepta Therapeutics, Inc. (SRPT) had a major trend-line break recently and thrust through major resistance. It had a massive move followed by a large coil or wedge pattern. On Monday, it popped 2.01, or 8.4%, on 1.2 million shares. Volume picked up, but more importantly, if it can get above the near-term target at 31-32, look for something around 35 intermediate-term, and the mid 40’s long-term. TASER International Inc. (TASR) has a big base pattern that developed, and the declining topsline and lateral price resistance were taken out. The big base that has formed can support a big move, so look for a move into the 11-12 area short-term, the 18 zone intermediate-term, and then the high teens, low 20’s if it really gets moving. Uni-Pixel, Inc. (UNXL) is another stock that exploded out of a large base recently, moving from about the 5 area all the way up to the 15 area, then pulled back to the 9-10 zone, consolidated, and on Monday, snapped back 2.86, or 26.4%, on more than a million shares traded. If this stock should take out 16.33, which looks possible, it could get into the low to mid 20’s, if not better. USG Corporation (USG), which in 2006 was trading over 100, came all the way down to the low single digits in 2009, broke back out, retested, and after a long run-up was at major resistance, popped through it, and backed off one more time. On Monday, it was up 1.02, or 3.77%, on over 2 million shares. If it gets up through the 28 1/2 range, which it looks like it will, look for something up around the 33-34 zone, and long-term, it looks like this stock has the potential to be a 50-dollar stock. Happy New Year!
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