AMSC, FSYS, SMSC, V – Stock Charts – Harry Boxer, TheTechTrader.com

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Today we’re going to cover, as promised, some of the Boxer Shorts as the market took a hit today. It was a lot worse than it looked, in my opinion, and we’ll have to see if there’s any downside over the next few days and what the bears have in their arsenal. But certainly it will do well to be prepared.

American Superconductor Corporation (AMSC) from our Boxer Shorts List is in a nice neat down trend. It has failed a couple times to get back above the 30 range after breaking down across a key support line. Next step may be a move lower. There is some support around the 25 range, which I expect to be tested. That’s the short-term target. Secondary target 21.

Fuel Systems Solutions, Inc. (FSYS) rolled over in November, bounced, and then came down again in December and made lower lows. Since then, over the last four weeks, it’s formed a kind of bear consolidation or bear flag. You can see it’s stalled right at the declining topsline and 21-day moving average. A break below the 29 area could lead to a very quick hit down toward 25. That’s our shorter-term trading target. Through that would be a disaster, as the stock would probably fall into the $20 range.

Standard Microsystems Corp. (SMSC) broke last week and has continued lower this week with another 82-cent loss that took out an important support line. Looks to me like this stock could see a test of the 21-21 1/2 range short-term. Secondary target down around 18.

Visa, Inc. (V), which broke hard in December, rallied back in a bear flag, and since then has been rolling over. It was down 2.04 today, and looks like a test of the 65-66 zone is due. A break of that level and we can see this stock in the mid 50s.

Other stocks in our Charts of the Day video are Dorman Products, Inc. (DORM), ITT Educational Services Inc. (ESI), GSI Commerce Inc. (GSIC), Skechers USA Inc. (SKX), Strayer Education Inc. (STRA), and Thoratec Corp. (THOR).