Charts of the Day - Harry Boxer, TheTechTrader.com
Posted on April 29, 2010 at 11:56 AM EDT
Owens Corning (OC), a well-known company that’s been moving strongly, today jumped a whopping 3.41 on 6 million shares. With a strong surge today, it could see higher levels. Overhead resistance may best tested up around the 36 zone from the 2007 high, at which point Owens will exceed new all-time highs. RF Micro Devices Inc. (RFMD) had a big day today, also getting a significant breakout, popping 43 cents or nearly 8% on 25 million shares. That’s the heaviest volume on an up-day all year. Looks like at this point if it does break out it could see something that takes this up towards the 7 – 7 1/2 level and beyond that 9 - 9 1/2. Sturm, Ruger & Co. Inc. (RGR) jumped today, breaking out across key resistance but accelerating to the upside, up 1.95 or 12.5%. It had a strong surge in volume and technicals. This stock may have a shot at reaching up in the 20–22 zone, where the ’07 highs existed at 22.58. Travelzoo Inc. (TZOO), which recently accelerated with volume, had a clean breakout the day before yesterday. Yesterday was an inside day, it paused on low volume, and today it popped another 1.28 or 6.78% on solid volume. Looks like Travelzoo may have some momentum here that could continue its move to test the 25 zone short-term and maybe 30 – 32 zone on an intermediate-term basis. Harry’s other stocks on Charts of the Day are Federal Agricultural Mortgage Corp. (AGM), BioCryst Pharmaceuticals (BCRX), China Electric Motor, Inc. (CELM), CPI Corp. (CPY), Delcath Systems (DCTH), Ferro Corp. (FOE), Integrated Silicon Solutions (ISSI), Key Tronic Corp. (KTCC), Silicon Image Inc. (SIMG).