AMCN, CSIQ, LCRY & MTW Among Charts to Watch
Posted on October 01, 2010 at 09:56 AM EDT
Despite the weakness in the market Thursday there were many stocks that TheTechTrader.com could trade that look real good and some new ones breaking out. AirMedia Group Inc. (AMCN) had a significant price-volume surge, jumping 92 cents, or 18%, on 800,000 shares, the biggest volume of the month. You can see that the breakout occurred this week out of the mini base that it’s been in, and it’s extended very nicely. Short-term target 6 3/4 may be met shortly. Secondary target in the 8-8 1/2 area. Canadian Solar Inc. (CSIQ), my old favorite junior solar, hasn’t acted very well this year, dropping back from 33 down to 9, but over the course of the last few months based out, and Wednesday spiked up and broke out.  On Thursday it followed through nicely, confirming the breakout, and moving to secondary resistance. My next target up around 18 1/2 short-term, and my intermediate target around the 22 level. LeCroy Corp. (LCRY), which has been moving nicely, accelerated this week, and did so with a thrust in technicals and volume. The breakout  leads me to believe we’ll see this stock at 10, my short-term trading target. Manitowoc Co. Inc. (MTW), farm machinery manufacturer, had been basing for several months, broke out Thursday with a price-volume surge on 12 million shares, the biggest volume in a long time. That’s a key breakaway gap on big volume. Looking for higher levels.  We can see this stock test the 14 range, and then secondary target 16 1/2. Other stocks in our Charts of the Day video are. Golden Minerals Company (AUMN),  Elan Corp. plc (ELN), Gran Tierra Energy, Inc. (GTE), Kandi Technologies, Corp (KNDI), The LGL Group, Inc. (LGL), Limelight Networks, Inc. (LLNW), Molycorp, Inc. (MCP), Oncolytics Biotech Inc. (ONCY), VeriFone Systems, Inc (PAY), Rare Element Resources Ltd. (REE), VirnetX Holding Corp (VHC), Verint Systems Inc. (VRNT), and Yingli Green Energy Holding Co. Ltd. (YGE).
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