The market had yet another big day on Thursday. It’s getting a little overbought to say the least, but there’s a lot of stocks that are still looking good and are breaking out. We’ll take a look at a few of those.
Bebe Stores, Inc. (BEBE), as many other retail stocks, had a big day on Thursday. It broke out of a one-year base pattern with pops in July and October of 2010 as well as the May pop being taken out on Thursday with a thrust, up 1.01, or 15%, on 3.6 million shares traded. That’s by far the biggest volume in several years. This was an important technical move. A test up around 9 1/2 is forthcoming.
Global Crossing Ltd. (GLBC) continues to act great. The big gap was triggered in April, then it coiled, broke out, flagged, broke out, coiled, and is now running again, up 1.50 to 41.00 on Thursday. The top of the channel measures about 51, and it wouldn’t be surprising to see this stock in the high 40s.
Coffee Holding Co.Inc. (JVA) continues its beautiful action. It’s been thrusting, flagging, popping, pulling back, testing, coiling, breaking out, inside day, and popping again on Thursday, up another 2.33 to 22.35. Before this is over it could very well reach 30, 35, even 40. It’s hard to tell where it’s going, but it certainly has momentum.
Ocz Technology Group Inc. (OCZ) was up 1.32 to 9.66, or 15%, on 10 million shares traded on Thursday. It broke out of a basing pattern, popped through the June reversal day high, and now it’s going to test 10 1/2. Once it gets through that it’s on its way to new all-time highs. Short-term target is set at 11 1/2 – 12, intermediate target is up around 14 – 15.
Other stocks in our Charts for the Day are Achillion Pharmaceuticals, Inc. (ACHN), AeroVironment, Inc. (AVAV), Abraxas Petroleum Corp. (AXAS), Evergreen Energy, Inc. (EEE), 8×8 Inc. (EGHT), FiberTower Corporation (FTWR), Genetic Technologies Ltd. (GENE), GMX Resources Inc. (GMXR), Hot Topic Inc. (HOTT), Hutchinson Technology Inc. (HTCH), Immunogen Inc. (IMGN), iPass Inc. (IPAS), Magic Software Enterprises Ltd. (MGIC), Nanometrics Incorporated (NANO), Express-1 Expedited Solutions Inc (XPO), Crosstex Energy Inc. (XTXI), Zalicus Inc. (ZLCS).