Six Stock Charts On The Move
Let's take a look at some of the better-acting stocks that we've been watching closely.
Adept Technology Inc. (ADEP) which had a significant break above the 6.00 range in September, has moved up dramatically and continues to break out. It had a strong move on Monday and a follow-through on Tuesday, up another 67 cents, or 6.1%, to 11.63 on nearly a half million shares. If it gets up through the 12.00 range, this looks like a stock that could really run. The next target would have to be up into the mid- and then high-teens.
ADEP Daily Chart
[1]
Extreme Networks Inc. (EXTR) is doing well, running up from under 4.00 in early September to nearly 7.00. On Tuesday, it was up 55 cents, or 8.7%, to 6.87, on 3.2 million shares. That's the best volume in a while, and breaks it out of a three-week coiling pattern. It's testing resistance now in the 7.00 area. The short-term target is around 7.75. Beyond that, look for it to reach up around 10.00, the high going back to 2003, which is the secondary target.
EXTR Daily Chart
[2]
Rite Aid Corporation (RAD) has been up five consecutive days. This was a swing trade set up on Monday of this week. It broke out of a two-month coil on Tuesday, up 21 cents, or 3.78%, to 5.76, on 33.3 million shares. The short-term target is 6.90-7.00. Beyond that, look for something up toward the 9.00 range, as the long-term, parallel up-channel points to more upside.
RAD Daily Chart
[3]
SeaChange International Inc. (SEAC) has been doing well. The long-term pattern shows the stock in a beautiful uptrend. It recently broke through the top of the channel, forming an accelerated channel since its September low. The stock had a corrective pullback, but has run back up to test the declining tops line, forming a wedge. On Tuesday, it was up 64 cents, or 4.6%, to 14.49 on nearly 200,000 shares. It needs to get more volume, but if it takes out Friday's high at 14.85, it's on its way to 16.00, and then 18.00.
SEAC Daily Chart
[4]
SunEdison Inc. (SUNE) is looking great. It's in a perfect parallel rising channel. The top of that channel measures about 18.00. Current action shows a two-week coiling, consolidation pattern. If it pops out of the flag it's in, look for 16.00 short-term.
SUNE Daily Chart
[5]
ZELTIQ Aesthetics Inc. (ZLTQ) had a good day on Tuesday, up 1.01, or 6.22%, to 17.24 on 800,100 shares traded. The stock recently broke out through lateral resistance, went up to the top of the channel and formed a perfect flag. It attempted to break out, pulled back, ran up again on Tuesday, tested the multi-year highs at 17.40, reaching that exact high intraday before pulling back. Look for it to head up toward 21.00 on the next move.
ZLTQ Daily Chart
[6]
Courtesy of Harry Boxer, marketwatch.com [7]