DGIT, INFI, TTM, USG Among Charts to Watch
Posted on September 12, 2012 at 23:07 PM EDT
The stock market had an interesting day, and it’s amazing how many stocks are starting to surge. Digital Generation, Inc. (DGIT) has a long down channel with a very sharp decline going back to 2011. It popped, had another sharp decline, popped again, had another sharp decline, and this time it popped through, formed a little flag, consolidated above the moving averages, and on Wednesday, it popped 1.19 to 12.19, or 10.8%, on 1.1 million shares, which is good volume for that stock. More importantly, the spike high from June, which reached about 13 and tested short-term, if exceeded, could take this stock up towards 15 1/2-3/4. Infinity Pharmaceuticals, Inc. (INFI) had a key breakout on Tuesday and a beautiful follow-through on Wednesday, up 1.64 to 20.72, or 8.6%, on 830,000 shares. The top of the channel is 28. That’s the target for this stock. Tata Motors Limited (TTM) has a mini left-shoulder-head-right-shoulder, the neckline was cracked with abandoned and breakaway gap on Wednesday, up 1.05 to 23.70, or 1.6%, on 2.4 million shares. Look for a move up toward 25 3/4-26 short-term, 28 1/2 intermediate-term. USG Corporation (USG), which we’ve been watching for months after the head-and-shoulder pattern was broken, continued to stair-step its way higher, cracking through the recent highs in July after pulling back sharply to moving averages, and held the trendline. On Wednesday, it was up 1.11 to 23.52, or 5%, on 2.7 million shares. If it moves back up through the July highs, it could get up to key resistance at 25 1/2-26, the next target. After that, look for something up around the high 30’s intermediate-term. Other stocks in our Charts for the Day are Achillion Pharmaceuticals, Inc. (ACHN), EnerNOC, Inc. (ENOC), GTX Inc. (GTXI), Heckmann Corporation (HEK), Himax Technologies, Inc. (HIMX), Hovnanian Enterprises Inc. (HOV), Coffee Holding Co.Inc. (JVA), Mindspeed Technologies Inc. (MSPD), Sears Holdings Corporation (SHLD), U.S. Silica Holdings, Inc. (SLCA), Santarus, Inc. (SNTS), and Smith & Wesson Holding Corporation (SWHC).