ICGN, JAZZ, PVSW, SCEI Among Charts to Watch

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The market has been having a difficult time of late, and Thursday was no different. There’s downside pressure, but still quite a few stocks that we follow had a pretty good session.

ICAgen Inc. (ICGN) had a big day on Thursday. This stock, which exploded at the end of June, formed a perfect textbook coil or wedge, exploded again on Thursday going from 6.10 to 8.20, closing at 8.29, up 1.04, or 30 1/2%, on 5.4 million shares. That’s huge volume for this stock. It may not be done yet. Look for an extensive move up around the 9 – 10 range short-term.

Jazz Pharmaceuticals, Inc. (JAZZ) also had a big day on Thursday, up 2.09 to 37.07 in a lousy market, and breaking out of a 5-day flag. This stock has extended to new all-time highs. The long-term channel indicates this could go as high as 50, or better, some time in the next few weeks.

Pervasive Software Inc. (PVSW) gapped, opened at 7.00, went up to 7.93, backed off, closing up 70 cents to 7.33, or 11 1/2%, on 521,000 shares. That’s the biggest volume this stock has traded in more than a year. It looks like it may get an extension to move, and if so, look for a move to about the 8 1/2 level.

Sino Clean Energy Inc (SCEI) had a big session for that stock, breaking out of a multi-month down channel, moving back across the 50-day moving average, and closing just above it. At this point with a 44 cent gain, or 30 1/2%, on Thursday, this stock could be beginning a new up trend, which should at least take it to around 2.90 short-term.

Other stocks in our Charts for the Day are Agilysys Inc. (AGYS), Endologix Inc. (ELGX), Glu Mobile, Inc. (GLUU), MBIA Inc. (MBI), Ocz Technology Group Inc. (OCZ), Quantum Fuel Systems Technologies Worldwide Inc. (QTWW), Rediff.com India Ltd. (REDF), SodaStream International Ltd. (SODA), ZAGG Incorporated (ZAGG).