Video URL: http://www.youtube.com/watch?v=VKRstAY7K70
Added: Feb 23, 2012
From: thetechtrader
Duration: 9:24
02/22/12 - We're going to take a look at several stocks that look intriguing, or had important breakouts on Wednesday. The market doesn't appear to be ready for shorts quite yet, but we may very well get a rollover starting Thursday, and if we do, we'll take a look at the shorts then. http://www.TheTechTrader.comHealthStream, Inc. (HSTM) was the stock of the day for us on Wednesday. It opened at 18.50 and went as high as 23.19 at one point, and close 22.55, up 5.21, or 30%, on 1.8 million shares. That's the heaviest volume since June. If we step back and look at the overall pattern, we'll see a beautiful chart after breaking out in 2010 around the 5.00 level, and has been steadily, choppily stair-stepping its way up, consolidating mid-2011, and running up to consolidate again only to breakout after three months of consolidation on Wednesday with a thrust that could take it pretty quickly up to the 26-range, which is the short-term target.http://www.TheTechTrader.com Sourcefire, Inc. (FIRE) had a pretty significant day on Wednesday. This stock has been on our Top 25 list for months. The overall pattern going back a couple years, shows that this stock did great in 2009, consolidated in 2010 for the most part, and began to move in 2011. It had a breakout, then consolidated, surged, and last week it was poking into new-high territory, and on Wednesday, it exploded for 9.36 to 45.18, or 26%, on 5.6 million shares, which is huge for this stock. In gauging what would be a long-term target for this stock, the angle for the top of the channel, shows a potentially very sharp increase from where it is right now. Short-term, however, look for something in the mid- to high-50's. http://www.TheTechTrader.com Community Health Systems, Inc. (CYH) had a big day on Wednesday. The long-term chart on this one shows that a big down trend was reversed, it edged it's way higher, and popped 3.19 to 23.85, or 15.4%, on 8.2 million shares at the base pattern. Look for a test of the 271/2 area, which is the next target.http://www.TheTechTrader.comHerbalife Ltd. (HLF) had a significant move on Wednesday after months of consolidation. It broke through the double-top area with breakaway gaps, and closed very nicely up 4.35 to 66.81, or 7%, on 5.2 million shares. At this point, this is all-time high territory. The long-term charts indicate a run up to 80 on an intermediate basis.http://www.TheTechTrader.com Other stocks in our Charts for the Day are KongZhong Corporation (KONG), Threshold Pharmaceuticals, Inc. (THLD), Spanish Broadcasting System, Inc (SBSA), Samson Oil & Gas Limited Sponso (SSN), Chiquita Brands International, (CQB), Aegean Marine Petroleum Network (ANW), Nabors Industries Ltd. (NBR), Motricity, Inc. (MOTR), Key Energy Services, Inc. Commo (KEG), Sangamo BioSciences, Inc. (SGMO), Kodiak Oil & Gas Corp (KOG), Procera Networks, Inc. (PKT). 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
Channel: Education
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