MCP, MS, SINO, VRX Among Charts to Watch

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It was another big day on Wall Street on Thursday so a lot of our stocks had a good day. We’ll take look at some that are moving, and some that look promising.

Molycorp, Inc. (MCP) had an important day on Thursday. The declining topsline, the wedge pattern, and 50-day moving average were taken out. This stock closed not too far of the highs for the day, up 4.08 to 58.80, or 7 1/2%, on 5.1 million shares traded. The biggest volume in a couple weeks. If it extends through that and takes out the 60 range, the next target is set at 66.

Morgan Stanley (MS) had a big day along with some of the others in the banking group. After the big gap, it had a breakaway through the declining topsline, 50-day moving average, and lateral price resistance. On Thursday it was up 2.48 to 24.20, or 11.2%, on 65.7 million shares traded. That’s by far the biggest volume in the last two and a half years. If it gets a follow-through there, the next target is set up around the 26 1/2 zone.

Sino-Global Shipping America, Ltd. (SINO) had another monster day, although if finally got some profit taking, heading down from Wednesday’s low at about 1.62 to Thursday’s high at 9.16. A pullback did occur and it could pullback some more, but there’s support around the 4 1/2 zone. It was up 1.89, or 43%, on 4.6 million shares on Thursday and will be interesting to see what happens going forward with this stock.

Valeant Pharmaceuticals International, Inc. (VRX) finally took out the four-month consolidation range, and then pulled back for a day or two on low volume. Thursday it popped 1.34 to 56.73 on 2.3 million shares. It reached a multi-year and ten-year high. A move through this zone could get this one headed up toward the 60 range.

Other stocks in our Charts for the Day are Achillion Pharmaceuticals, Inc. (ACHN), BioSante Pharmaceuticals, Inc. (BPAX), Clean Energy Fuels Corp. (CLNE), Cardiovascular Systems Inc. (CSII), SmartHeat Inc. (HEAT), Hansen Medical, Inc. (HNSN), Imperial Sugar Co. (IPSU), Kandi Technologies, Corp (KNDI), Melco Crown Entertainment Ltd. (MPEL), Pharmacyclics Inc. (PCYC), Procera Networks, Inc. (PKT), Raptor Pharmaceuticals Corp. (RPTP), TeamStaff, Inc. (TSTF), Express-1 Expedited Solutions Inc (XPO).