DNKN, MFRM, NEWL,TZOO Among Charts to Watch
Posted on April 12, 2012 at 09:14 AM EDT
The stock market had a snapback day on Wednesday, and there were not a lot of losses, so we’ going to cover some of the longs that did well. Dunkin' Brands Group, Inc. (DNKN) has had a steady down channel, it popped, pulled back, popped, pulled back again, and then on Wednesday, it popped 1.00, or 3.3%, on 2.2 million shares. Watch for a breakout around the 30 area, and if it does breakout, look for it to retest the highs up around the 33 zone, and then if that gets through, look for something up around 34 1/2. Mattress Firm Holding Corp. (MFRM) has gone from the 21 range up to the 45 range, more than doubling, just since December. On Wednesday it jumped 6.57 to 11.00 even, or 17 1/2%, on 885,000 shares. The top of the channel should be tested on Thursday, up around 46-46 1/2. NewLead Holdings Ltd. (NEWL) took off the last three days and has gone from 1.00 all the way up to 5.25. It has good momentum, and if 5.25 is taken out on Thursday, this stock could very well get up to 6-7.00. Travelzoo Inc. (TZOO) announced that they are looking to sell the company. Their stock went from 21 to almost 28 at one point, closing up 6.00 to 27.06, or 28 1/2%, on 5.2 million shares. That’s by far the biggest volume in more than a year. If there’s a follow-through, look for this to at least try to test 29 short-term, the 31 zone intermediate-term, and beyond that, something up around 34. Other stocks in our Charts for the Day are Agenus Inc. (AGEN), ArQule Inc. (ARQL), EPAM Systems, Inc. (EPAM), SmartHeat Inc. (HEAT), OptimumBank Holdings Inc. (OPHC), Renren Inc. (RENN), Spanish Broadcasting System Inc. (SBSA), Sino-Global Shipping America, Ltd. (SINO), Titan Machinery, Inc. (TITN), and Ubiquiti Networks, Inc. (UBNT).
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