It was a tough day on Wall Street. The indices came down sharply on rumors, went back up just as sharply, rolled over, and had a mixed close. There’s been a lot of pressure on semiconductor and biotech stocks. It’s not a good thing, but we’ll see what happens. For now, we’ll look at some of the stocks that are acting well.
Basic Energy Services (NYSE:BAS), which we’ve taken a look at several times, has broken out of a base, and looks like it wants to go higher. On Tuesday, it closed at 9.35, up another 49 cents, or 5.5%, on 4.6 million shares. At this point, it looks like a 12-dollar stock. That’s the next target.
Freeport-McMoran Copper & Gold Inc (NYSE:FCX) had a coiling base, it broke out, retested the moving averages, while they turned around and moved up, and then on Tuesday, it finally broke through the 21.90 resistance level, closing at 22.68, up 86 cents, or 2%, on 3.2 million shares. It may very well test 23.89-90, before it pulls back, if it pulls back. Momentum could take this to 27.00, the swing trade target.
Solazyme (NASDAQ:SZYM) is one of our swing trades, up 16 cents to 3.93, or 4.24%, on 631,700 shares traded on Tuesday. It popped out, pulled back, has been consolidating the last 6-7 sessions, and even though it did reverse from 3.70 to 3.96, I would like to see it get to 4.06 with volume, and then take out 4 3/4, before it gets to the target at 5 1/2.
TASER International (NASDAQ:TASR) closed up 52 cents to 28.89, or 2%, on 3.1 million shares on Tuesday. This stock, along with Digital Ally (NASDAQ:DGLY), popped on problems in Baltimore. This still appears to be a 32-33 dollar stock short-term, and the longer-term target is 39-40.
Other stocks on Harry’s Charts of the Day included Capnia (NASDAQ:CAPN), Clean Energy Fuels Corp (NASDAQ:CLNE), Canadian Solar (NASDAQ:CSIQ), Gigamon (NYSE:GIMO), JetBlue Airways (NASDAQ:JBLU), (NYSE:NUGT), Rudolph Technologies (NYSE:RTEC), Solar3D (NASDAQ:SLTD) and Vuzix Corp. (NASDAQ:VUZI).