The stock market kind of missed today, and a little on the choppy side, but a late rally brought it back, and it ended mixed. A lot of stocks we follow, and traded today, were quite interesting. I’m going to show you some of those patterns.
Coupons.com (NYSE:COUP) had a big day on Wednesday. Going back a to the beginning of the year, it had a big move up, then big decline, it snapped back in June, rolled over in June-July, hit bottom about mid-to-late Sept after the IPO and then based out. The pattern over the last few months shows that it had four test to the lows to create a bottoming-type pattern. Wednesday’s pop of 4.13, or 33.2%, on almost 7 million shares was huge. For me, all goes well for this stock moving forward. It’s very similar to what we saw on Groupon. So the near-term target will be a test of the gap at 18.66, and then the secondary target is up around the 21-22 zone.
Criteo SA (NASDAQ:CRTO) had a nice move on Wednesday. A big base had developed on this one. This stock came down in March at 61, and then got down into the low 20’s, around the 25 range. It bounced around, spiked up in three places, and then formed a falling channel. It broke out of that on Wednesday, up 6.44, or 22%, on 3.4 million shares. It popped, came across the declining topsline, moving average, and lateral price resistance. So, I’m looking for a quick test to see if it can get up to 37-37 1/4, but I think the target, for me, is going to be up around 40. If it breaks out of that level, then it’s on its way up to an important move as the major base pattern over the last several months will have been broken.
FormFactor Inc. (NASDAQ:FORM) is acting great, along with many other semiconductor stocks, up 96 cents, or 12%, on 2 million shares, on Wednesday. The pattern for this stock over the last couple three years now, has moved it up to a breakout point that could very well test the big level of resistance at 10.40-.50, which is my next target.
Integrated Device Technology, Inc. (NASDAQ:IDTI), which I put a swing trade on Wednesday, had a good day. I like the way it broke out, formed a beautiful wedge, the bottom receded, and then it popped again, closing at the upper end of the range, and across resistance. I’m expecting a test of at least 18 1/2-19 short-term, and then maybe it will get into the 22 zone.
Other on Harry’s Charts of the Day are Adept Technology Inc. (NASDAQ:ADEP). Bloomin' Brands, Inc. (NASDAQ:BLMN), BroadSoft, Inc. (NASDAQ:BSFT), Cognizant Technology Solutions Corporation (NASDAQ:CTSH), Ekso Bionics Holdings, Inc. (OBB:EKSO), NRG Energy, Inc. (NYSE:NRG), NXP Semiconductors NV (NASDAQ:NXPI), Planar Systems Inc. (NASDAQ:PLNR), and YOU On Demand Holdings, Inc. (NASDAQ:YOD).