CEVA, QTWW, TSLA, WPRT Among Charts to Watch

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We saw quite a few stocks that emerged on Wednesday. Most of the ones we’re going to take a look at are trending in or breaking out.

CEVA Inc. (CEVA) had a recent consolidation that was taken out with a pop of 1.97on Wednesday. Volume surged to 421,000 shares. That’s the heaviest volume since January. It appears this is just the beginning of this move. Look for a move up towards 36 1/2 – 37 range short-term.

Quantum Fuel Systems Technologies Worldwide Inc. (QTWW) had a big pop on Wednesday. It did give back a big chunk of it, but it’s still up 1.37, or 35.49%, on 2.2 million shares. That’s a big gain for that stock. It had an orderly pullback at the moving averages, bounced, pulled back one more time on low volume before it took off on Wednesday. It’s right at the resistance zone, and if it gets through the 6.00 range, it could be tested as early as Thursday. The swing trade target on this is about 8 1/2.

Tesla Motors, Inc. (TSLA), a swing trade portfolio position, took a nice pop on Wednesday and went from 26.17 to 29.01, closing at 28.98, up 2.25, or 8.25, on nearly 4.7 million shares. That’s big volume on this stock. It’s taken out the entire trading range, and at this point, it appears to finally be going to take a run to the 33 range. That’s the target and swing trade target on TSLA.

Westport Innovations Inc. (WPRT), which we had a successful swing trade on when it broke out in April, pulled back for the last six weeks. On Wednesday a decisive price-volume surge took it out across moving averages, all across the declining topsline, right up to lateral price-resistance, then backed off a bit from there. It popped 1.32, or 5 1/2%, on nearly a million shares, the heaviest volume in six or seven weeks. This should continue it’s move up for a move through 26, and then the low 30s.

Other stocks in our Charts for the Day are Star Scientific, Inc. (CIGX), Cornerstone Therapeutics Inc. (CRTX), Derma Sciences Inc. (DSCI), DUSA Pharmaceuticals Inc. (DUSA), Elan Corp. plc (ELN), El Paso Corp. (EP), Glu Mobile, Inc. (GLUU), OmniVision Technologies Inc. (OVTI), Raptor Pharmaceuticals Corp. (RPTP), Volcano Corporation (VOLC), Zale Corporation (ZLC).