AVGO, VOLC, WPRT, YOKU Among Charts to Watch

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The market had a great day on Tuesday. Stocks closed strong, and a lot of stocks were breaking out and moving. We’ll take a look at some of the stocks that looked exceptionally good on Tuesday.

Avago Technologies Limited (AVGO) has been in a beautiful rising channel for the last couple years. It finally broke out of the little consolidation range. After popping last week, and consolidating for three days, it popped out across the May-June highs, up 1.50 to 36.94 on 3.1 million shares on Tuesday. It may be now headed toward the low 40s, in the 42 -43 range, which is the intermediate target.

Volcano Corporation (VOLC) popped on Tuesday, up 1.14 to 31.67. It broke out of a 4-day flag and is testing the May-June highs. Look for a move that takes it to 34 1/2, thereabouts, short-term.

Westport Innovations Inc. (WPRT) had a big day on Tuesday, popping 2.49 to 24.00, or 11 1/2%, on 2 million shares. That’s the biggest volume in about three weeks. It broke across lateral price resistance, 50-day moving average, and is now testing the declining topsline. A take out of the 25 area could lead to a sudden thrust that moves it to the 28 range, and then into the low 30s.

Youku.com Inc (YOKU) had a significant price-volume surge, exploding 8.20 to 35.54, or 30%, on 22 million shares on Tuesday. It’s taken out the 2-month declining channel, lateral price resistance, and 21-day moving average. It certainly looks like a test of the 39 – 40 range is forthcoming. This is a significant breakaway pop for this stock.

Other stocks in our Charts for the Day are Allot Communications Ltd. (ALLT), Cardiovascular Systems Inc. (CSII), Endocyte, Inc. (ECYT), Elan Corp. plc (ELN), EasyLink Services International Corporation (ESIC), Glu Mobile, Inc. (GLUU), Coffee Holding Co.Inc. (JVA), Krispy Kreme Doughnuts, Inc. (KKD), Oncothyreon Inc (ONTY), Orsus Xelent Technologies Inc. (ORS), Seattle Genetics Inc. (SGEN), GT Solar International, Inc. (SOLR), ServiceSource International, In (SREV), Tibco Software, Inc. (TIBX).