LCAV, FTK, NDSN, GPRO Among Charts to Watch
Posted on January 04, 2012 at 23:58 PM EST
It was an interesting day on Wall Street Wednesday, and should be interesting on Thursday as well. In the meantime, we’re going to take a look at some of the longs and shorts to see how they’re doing. LCA-Vision Inc. (LCAV) made a significant move, and was up 35% on Wednesday. The volume increased to 672,000 shares.It broke through the declining topsline, lateral price support, and out of a wedge, with a breakaway gap, which may have triggered a whole new move. It closed up right around the secondary resistance zone, but there may be some additional upside up towards 5 1/2, which is the short-term target. Flotek Industries Inc. (FTK) had a significant day on Wednesday. It broke through key lateral price support, and thrust 1.66 to 12.18, or 15.8%, on 6.6 million shares, which is huge for this stock. It should lead to a test of something near the 13 range, which is the short-term target. Beyond that, long-term resistance shows, that if it does get up through that, it could run up into the high teens, low 20’s. Boxer Shorts Nordson Corporation (NDSN) broke down hard, wedged, and then broke down from that wedge, and is forming a bear flag. In the last year this stock has gone from the 36 area all the way up to 59, and then started on a downtrend, and on Wednesday it dropped to 41.60. If this little bear flag pattern breaks to the downside, look for a quick test of 37 - 37 1/2. Gen-Probe Inc. (GPRO), a stock that got as high as 82.50 in May of last year, has been in a down trend ever since. It bounced and spiked several times as it stair-stepped its way down. On Wednesday it cracked the declining topsline, and rolled over 1.41 to 57.62, or 2.4%, on 758,000 shares. It could come down and test the 54 level. If it takes that out, look for a big slide in this stock that could take it down to the high 40’s. Other stocks in our Charts for the Day are Netlist Inc. (NLST), Dex One Corporation (DEXO), Liz Claiborne Inc. (LIZ), Magnum Hunter Resources Corp. (MHR), NutriSystem Inc. (NTRI), Micron Technology Inc. (MU), Endeavour International Corporation (END), Kodiak Oil & Gas Corp. (KOG). Stocks on the short side included Abercrombie & Fitch Co. (ANF), FactSet Research Systems Inc. (FDS), Advanced Micro Devices, Inc. (AMD) 51job Inc. (JOBS).