ANR, CSC, PSX, RIMM Among Charts to Watch
Posted on November 06, 2012 at 23:55 PM EST
Quite a few stocks acted well on Tuesday as the stock market had a big day. Let’s take a look at some of the ones that broke out or had a good technical day. Alpha Natural Resources, Inc. (ANR), one of our favorite coal stocks right now, developed a nice pattern. It had a big thrust in Sept, pulled back, then ran up to new highs right near the lateral price resistance. On Tuesday, it was up 26 cents to 9.62, or 2.78%, on 26 million shares. If it can get through the line of resistance, this stock could run further up toward the 12.00 target, and then the target at 13 1/2, or so. Computer Sciences Corporation (CSC) had a big day on Tuesday after the earnings report came out. After falling in a multi-week wedge, it exploded with a big breakaway gap 5.34 to 36.80, or 17%, on 7.4 million shares. That’s the biggest volume since Aug. Look for this stock to reach 40 short-term. Phillips 66 (PSX) had a big breakout on Tuesday. This post IPO stock, after the split with Conoco Phillips, has been running nicely, and finally settled into a consolidation. On Tuesday, it had a breakout, popping 2.28 to 50.04, or 4.77%, on 8.2 million shares. The channel projection shows a move up to 55-56 short-term possibly. Research In Motion Limited (RIMM) recently brokeout and consolidated. It looks good and has a good pattern forming. It looks like it could move higher. Look for a move up to 9.30 short-term, and then 11 intermediate-term. Other stocks on Harry’s Charts of the Day are Alon USA Energy, Inc. (ALJ), AOL Inc. (AOL), First Solar, Inc. (FSLR), InterDigital, Inc. (IDCC), Medifast Inc. (MED), Office Depot, Inc. (ODP), OfficeMax Incorporated (OMX), Patrick Industries Inc. (PATK), and Thor Industries Inc. (THO).
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