AMSC, EXPD, HWKN, NTAP Among Charts to Watch

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The market started off the week with a down note Monday. It may well be headed lower and break key support levels, which we have not done yet. Although this morning they got close to testing some of those levels and bounced late in the day. We’ll see if there’s any reversal and down side follow-through Tuesday.

Now we’ll take a look at some of the Boxer Shorts.

American Superconductor Corporation (AMSC) continues in a distinct down trend, breaking support in two places, and now consolidating to meet that level of support. Looking for a test of the 24-24 1/2 area. If that’s taken out, momentarily we can see 20 potentially on an intermediate basis, secondary target down around 20.

Expeditors International of Washington Inc. (EXPD) came down hard two weeks ago, bounced last week and formed a bear wedge. Monday it dropped 81 cents and could be headed towards short-term support at the 42 1/2 – 43 zone.

Hawkins Inc. (HWKN) finally moving out of its bear coil to the downside last week tried to snap back but failed, and Monday backed off another 46 cents. Some support at 34, but ultimately this stock may be down near 30.

NetApp, Inc. (NTAP), after breaking hard in February, coiled for a couple weeks, and then Monday dropped another 92 cents. If it takes out 49 3/4, or thereabout, I could see 46 3/4 pretty quickly.

Other stocks in our Charts of the Day video are Akamai Technologies Inc. (AKAM), Atlantic Tele-Network, Inc. (ATNI), Broadcom Corp. (BRCM), Carnival Corporation (CCL), Cloud Peak Energy Inc. (CLD), Cree Inc. (CREE), Ctrip.com International Ltd. (CTRP), Dolby Laboratories Inc. (DLB), Fuel Systems Solutions, Inc. (FSYS), Green Dot Corporation (GDOT), GSI Commerce Inc. (GSIC), Homex Development Corp. (HXM), Rovi Corporation (ROVI), Strayer Education Inc. (STRA), Sensient Technologies Corporation (SXT), Target Corp. (TGT), and Thor Industries Inc. (THO).