ARDM: In September the stock moved up sharply off its base at $1.50 trading up to $4.75. It then formed a descending wedge and last week broke out to the upside of that wedge. The stock is now in an up trending channel and today traded as high as $5.68 closing at $5.45. I would look to go long over $5.80 with $7.00 as a price target. It does need volume to push it higher though.
CREE: Stock broke out of a basing pattern today on earnings news. It was a powerful day trade chart that just kept going as shorts got squeezed and institutional investors took large positions. It traded as high as $35.46 closing at $34.16. If the momentum continues I would go long over today's high with $40.00 as the price target. Short ratio, 8.6 days to cover.
ECYT: After exploding from the $1.50 range up to $6.55 the stock has made an orderly retrace down to $4.25. Today it broke out of that wedge formation trading as high as $5.00, closing at $4.91. I would look to go long this stock if I find a good entry level with a view of it getting back to the recent high of $6.55. Over that price and we could see $9.00. Probably needs more volume but worth a watch.
LLNW: Strong up trending chart since the summer from $1.25 to $4.50. But on earnings after hours the stock has gapped up to over $5.00. Will be on my watch for the morning with a trade to $6.00 and higher.
VKTX: Stock has been in a rising channel from $1.25 and today it broke through lateral resistance and spiked up to a high of $2.88 closing at $2.60. If there should be follow through then the top of the channel comes in around $3.50.
Thanks!
Youre the man!!
Join now or log in to leave a comment