Harry Boxer of The Technical Trader offers six stocks to watch with strong momentum.
Alcoa Inc. (AA) has recently punched through a double-resistance level, and on Tuesday, it continued a little higher, popping 17 cents, or 1.3%, to 13.04 on 24 million shares. We're looking for it to get up to around 15.00 short-term.
AA Chart
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Hewlett-Packard Company (HPQ), which has broken out several times recently, gained another 87 cents, or 2.7%, on Tuesday on 13 million shares. It looks like it's going to go even higher, with our target at around 38.00.
HPQ Chart
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Inteliquent Inc. (IQNT) has been consolidating since the big breakout at the end of February, and for the last two weeks, it has been doing a nice job of holding above the prior resistance, which is now support. The stock is in the confines of a large rising channel, and we're looking for it to get up to 18.00 and then 20.00.
IQNT Chart
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LiveDeal Inc. (LIVE) is looking good. It had a five-wave pullback in a tightening coil, and on Tuesday, it started to wake up. If it can get across the declining tops line, then this could make a run at the 10.50 range.
LIVE Chart
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Maxwell Technologies Inc. (MXWL) had a great turnaround on Tuesday. The stock has been in a falling wedge, which held near price support at the 20-day moving average, and then it spiked on Tuesday, 1.43, or 11%, to 14.35 on 2.2 million shares. That's the best volume in four weeks. It looks like it's going to retest the 16.00 range, and then make a run at 18.00, and then 20.00.
MXWL Chart
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Pacific Ethanol Inc. (PEIX) had a terrific day on Tuesday, up 2.32, or 15%, to 17.90 on nearly four million shares. That's the second best volume in about four weeks.
PEIX Chart
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Let's see if it will get up through the recent high, which is a multi-year high, at 18.20, which could get it to 22.00-23.00.
By Harry Boxer, Author, The Technical Trader
