ALLT, CDE, ROYL, XTXI Among Charts to Watch
Posted on March 01, 2011 at 06:57 AM EST
The market continues to press higher despite a midday sell off Monday. They snuffed them back and closed with solid gains for the day with technicals better on NYSE than Nasdaq. Nasdaq was kind of sloppy and may be some cause for worry. We’ll just have to see how it goes. In a day or so we may look at the short side, but for now stocks still continue to look strong. Allot Communications Ltd. (ALLT) is in a beautiful rising channel, and has been for months now, finally broke out of its two-week flag. The sharp thrust in volume, almost 750,000 shares, up 1.13, or 7.6%. A clean breakout should lead this up toward the 18 1/2 – 19 zone. That’s our next trading target. Coeur d`Alene Mines Corporation (CDE) had a big day Monday, breaking across a key level of resistance with a thrust in volume. It traded the heaviest volume in a very long time, 8.6 million, up 3.86, or almost 14%. That’s the highest price that stock has closed in about three years. At this point I’m looking for a move into the mid 30s. Royale Energy Inc. (ROYL) is one of the strongest in the junior oils in the thin ones. While some of the others have backed off this stock continues to move higher, reaching my target of 6.50 Monday. My secondary target is about 7 1/2. That’s what I’ll be looking for next. It seems to be stopped at 4.90, in my opinion. Crosstex Energy Inc. (XTXI) popped across key resistance Monday. Going back a year and a half and this could lead an extension of this move to the top of this channel ultimately. It could take place down the road. We’ll set a long-term target at 25, short-term target at around 13, intermediate at 18. Other stocks in our Charts of the Day video are Apricus Biosciences, Inc. (APRI), Abraxas Petroleum Corp. (AXAS), Dynamic Materials Corp. (BOOM), Columbia Laboratories Inc. (CBRX), Exelixis, Inc. (EXEL), Great Panther Silver Limited Or (GPL), Hardinge Inc. (HDNG), ION Geophysical Corporation (IO), Kodiak Oil & Gas Corp. (KOG), NXP Semiconductors NV (NXPI), Pulse Electronics Corporation C (PULS), SodaStream International Ltd. (SODA), Samson Oil & Gas Limited (SSN), Transition Therapeutics Inc. (TTHI), Vertex Pharmaceuticals Incorporated (VRTX).