CETV, EPAM, CLIK, THRX Among Charts to Watch
Posted on April 02, 2012 at 23:39 PM EDT
The stock market had a positive day on Monday, and just keeps pressing higher. We’re in a time zone now that’s very critical from a lot of cycle standpoints. But, we will continue on the long side. Central European Media Enterprises Ltd. (CETV) broke out with a pop on Monday out of a big wedge pattern, and took out the declining topsline going back nearly a year. It was up 1.39 to 8.49, or 19 1/2%, on 1.25 million shares traded. The next target for this stock may be a test of resistance up around the 9.00 area short-term, and may be tested very soon. The secondary target is set at 12. EPAM Systems, Inc. (EPAM), a recent new issue, started to move in March, and has been stair-stepping its way higher. It spiked last Tuesday, consolidated Thursday and Friday, particularly on a quiet inside day on Friday. On Monday, it popped out of the pattern, spiking 1.19 to 21.71, or 5.8%, on low volume. It appears this stock may have some more upside. The target is set at the 23 - 24 range short-term. Qlik Technologies Inc. (QLIK), after popping through the resistance zone, settled back for a 3-day flag, and on Monday, it popped 1.15 to 33.15, or 3.5%, on 1.4 million shares. It’s coming out of a flag, and this flag indicates a target for this stock is up around the 36 zone. Theravance Inc. (THRX) had a big move on Monday, up 3.79 to 23.29, or 19.4%, on 2.3 million shares. It cleanly broke out above the first line of support, and then tested the second line of support before it backed off slightly at the close. Should it get through the 24-range, look for this stock to make it up around the 27 – 28 zone. Other stocks in our Charts for the Day are Agenus Inc. (AGEN), Anika Therapeutics Inc. (ANIK), E-Commerce China Dangdang Inc. (DANG), Glu Mobile Inc. (GLUU), Cheniere Energy, Inc. (LNG), Pozen, Inc. (POZN), QuickLogic Corporation (QUIK), Repligen Corporation (RGEN), Shuffle Master, Inc. (SHFL), Santarus, Inc. (SNTS), Smith & Wesson Holding Corporation (SWHC), Towerstream Corporation (TWER), and Vringo, Inc. (VRNG).
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