6 Momentum Stocks To Watch
by Harry Boxer
Here are six stocks to watch with strong momentum:
Alcoa Inc. (AA) has recently punched through a double-resistance level, and on Tuesday it continued a little higher, popping 17 cents, or 1.3%, to 13.04 on 24 million shares. We're looking for it to get up to around 15.00 short-term.
AA Chart
Hewlett-Packard Company (HPQ), which has broken out several times recently, gained another 87 cents, or 2.7%, on Tuesday on 13 million shares. It looks like it's going to go even higher, with our target at around 38.00
HPQ Chart
Inteliquent Inc. (IQNT) has been consolidating since the big breakout at the end of February, and for the last two weeks, it has been doing a nice job of holding above the prior resistance, which is now support. The stock is in the confines of a large rising channel, and we're looking for it to get up to 18.00 and then 20.00.
IQNT Chart
LiveDeal Inc. (LIVE) is looking good. It had a 5-wave pullback in a tightening coil, and on Tuesday, it started to wake up. If it can get across the declining tops line, then this could make a run at the 10.50 range.
LIVE Chart
Maxwell Technologies Inc. (MXWL) had a great turnaround on Tuesday. The stock has been in a falling wedge, which held near price support at the 20-day moving average, and then it spiked on Tuesday, 1.43, or 11%, to 14.35 on 2.2 million shares. That's the best volume in four weeks. It looks like it's going to retest the 16.00 range, and then make a run at 18.00, and then 20.00.
MXWL Chart
Pacific Ethanol Inc. (PEIX) had a terrific day on Tuesday, up 2.32, or 15%, to 17.90 on nearly four million shares. That's the second best volume in about four weeks. Let's see if it will get up through the recent high, which is a multi-year high, at 18.20, which could get it to 22.00-23.00.
PEIX Chart
Courtesy of MarketWatch