The markets had a big rally on Wednesday, and it was a good day for Wall Street. The technicals were pretty good, too. So, we’re going to take a look at some stocks that snapped back, especially biotech’s and Chinese stocks, just to give you a sampling of what’s out there.
Infosys Limited (NYSE:INFY), a Indian technology company, had a great day on Wednesday, up 1.04 to 19.09, or 5.76%, on 10.5 million shares. It is in a large wedge pattern. It popped out of the wedge on Tuesday, and then exploded on Wednesday. The targets for this stock are now 20, 21, and 24 going forward.
Intel Corportation (NASDAQ:INTC) is really looking good. It’s in a nice, strong, 3-wave corrective pullback, with the forth wave forming. It jumped 90 cents to 30.14, or 3%, on 41 million shares. That’s the best volume on an up-day in about a month. It may follow through as early as Thursday. The declining topsline comes in around 32, so the next target is 31 1/4-1/2.
Natural Health Trend (NASDAQ:NHTC) is acting very well considering the market. On Wednesday, it popped 2.88 to 32.68, or nearly 10%, on 249,000. This stock pretty much backed off resistance to hold the moving averages down. It looks like it’s broken out, pulled back, retested, and may be on its way back up again. 28 1/2 will get this one out above resistance, and then 35 1/2, and 39 are the targets for NHTC.
NVIDIA Corporation (NASDAQ:NVDA) popped 94 cents to 24.65, or 4%, on nearly 14 million shares on Wednesday. The long-term channel goes back to 2012, taking this stock from the 11 range, all the way up to the 24 area. At this point, the top of the channel says 26 1/2 short-term, but it may see more than that.
Other stocks on the long side include Esperion Th (NASDAQ:ESPR), JinkoSolar Holding Company Limited (NYSE:JKS), Neurocrine Biosciences Inc (NASDAQ:NBIX), 58Com Inc Adr (NYSE:WUBA).