FSLR, HOTT, LNG, SRPT, VRNG Among Charts to Watch
There’s certainly a lot of stocks moving nicely, and among some of the stocks here, we’re going to highlight some solar stocks, because of the emerging status of the group. But be careful and don’t get too crazy with these stocks, because a lot of these may be short-term extended and get some kind of pullback-consolidation, entry opportunity. First Solar, Inc. (FSLR) is one of the major solars, if not the leader in the industry. In August when we talked about this one it was breaking through the 16-17 range, then it ran up to the mid 20’s, stalled there for a few months, broke out of a beautifully formed wedge that formed, and ran up from the 29 range to the Thursday high at 35.60, filling both of our swing trade targets. It popped 2.42 to 34.41, or 7.56%, on 10 million shares. Based on the long-term pattern it looks like this stock will trade in the low to mid 40’s. Hot Topic Inc. (HOTT) had a key breakout, taking out the declining topsline, and moving up to test the double-top from March-April of this year, reaching nearly 11 at 10.92, closing up 1.08 to 10.80, or 11%, on 1.8 million shares. That’s the second biggest volume going back several months. It was an important day for this stock, and with that move, the pattern will extend up to the 13 1/2-14 zone, which is the swing trade target right now. Cheniere Energy, Inc. (LNG) is a stock we’ve liked all year but haven’t talked about much in the last couple weeks. It broke out, it pulled back, consolidated, moved up, stalled for a couple days, and in the last two days, it ran through and reached 20, which was the original swing trade target back in August, but never made it. At this point, it’s now up and out, and the swing trade target coming up is in the 25-26 area. Sarepta Therapeutics, Inc. (SRPT) has had a good couple sessions. It had a break out of the falling wedge, and for three days it’s been going up with an increase in volume. However, it needs to see more volume to get it going past the 31.87 area. It may take some doing, but if it does get through there, look for something at 35 and then 40. Vringo, Inc. (VRNG) had a big day on Thursday as rumors spread that the judge was going to make a positive ruling against Google Inc. (GOOG) and some royalties owed to VRNG. The stock opened at 2.86 and closed at 3.50, the high for the day, up 58 cents, or 20%, on 10 million shares. That’s the biggest volume since November. Perhaps it will test the 4-4.25 range short-term, and 5 1/2 intermediate-term. Other stocks on Harry’s Charts of the Day are Canadian Solar Inc. (CSIQ), Ferro Corp. (FOE), JinkoSolar Holding Co., Ltd. (JKS), LDK Solar Co., Ltd. (LDK), Landec Corp. (LNDC), PolyOne Corporation (POL), Qihoo 360 Technology (QIHU), ReneSola Ltd. (SOL), Suntech Power Holdings Co. Ltd. (STP), Guggenheim Solar (TAN), Trina Solar Limited (TSL), and Yingli Green Energy Holding Co. Ltd. (YGE).
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