APH, ASML, HON, SUPN Among Charts to Watch
Posted on July 18, 2012 at 22:41 PM EDT
It was a good day on Wall Street on Wednesday. The market did well, so a lot of our stocks did well. We’ll take a look at the patterns on some of these stocks and what to watch. As you will see, the biotech stocks just keep going up with no sign of slowing down in sight. Amphenol Corporation (APH) had a big day on Wednesday on strong earnings, popping 7.58 to 58.94, or 15%, on 4.5 million shares. It gapped up above the entire consolidation range and the big breakaway gap, and closed at the high end of the range. It was a big day, big volume. The last time it had a move like that, it continued to move substantially over the next 2-3 months. Expect that as well here. Look for it to get into the low- to mid-60’s short-term. ASML Holding NV (ASML), a big Dutch manufacturer, had a nice day on Wednesday, up 3.07 to 54.57, or 6%, on 3.4 million shares. It has been in a beautiful rising channel during the past year and has gone from 31 to 54. Look for more upside, something up toward the high 60’s, maybe even as high as 70. Honeywell International Inc. (HON) broke out of a declining pattern, through price resistance, declining topsline, and the 50-day moving average, all in one fell swoop, up 3.64 to 58.18, or 6.67%, on 8.4 million shares. Now, look for a move up to the 61-2 zone short-term. Supernus Pharmaceuticals, Inc. (SUPN), with a big pop on Wednesday, jumped 3.95 to 14.64, or 37%, on 621,000 shares, closing just 13 cents off the high. A very nice close and right near the prior high at 15.20. If it gets up through there, it could get up into the high teens fairly quickly. Other stocks in our Charts for the Day are Amyris, Inc. (AMRS), Array BioPharma, Inc. (ARRY), BioCryst Pharmaceuticals, Inc. (BCRX), 3D Systems Corp. (DDD), Ellie Mae, Inc. (ELLI), Galena Biopharma, Inc. (GALE), Infinity Pharmaceuticals, Inc. (INFI), Isis Pharmaceuticals, Inc. (ISIS), Kodiak Oil & Gas Corp. (KOG), Parkervision Inc. (PRKR), Stratasys Inc. (SSYS), Theravance Inc. (THRX).