SQNS, STMP, SUSS, AVGO Among Charts to Watch

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A lot of stocks are still doing well, although there was a late sell off on Wednesday. The stock market had another up day for the third consecutive day. It may be getting close to a top, but as long as the market is ending up on the day, we’ll continue to look at the longs that are doing well.

Sequans Communications S.A. Ame (SQNS) was the star of the day on Wednesday, up 3.01 to 7.44, or 68%, on 7.1 million shares. That was the biggest volume in a very long time for this stock. At one point this stock was up almost 100%. It exploded from 4.25 up to 8.75, nearly reaching the declining 50-day moving period before backing off. The resistance zone is 10 1/2 to 12 1/2, so look for it to move up to test the 9.00 zone short-term, and if it gets through that, maybe it’ll get up to 10 1/2.

Stamps.com Inc. (STMP) has also been a star over the last couple days; a stock that was spotted during the breakout from a flag. It moved from about 18 1/2 to about 24.10 on Wednesday. The 24-25 target was hit, and at this point it may be a little short-term over bought, but it’s certainly a great chart. Look for something in terms of a consolidation near a flag.

Susser Holdings Corporation (SUSS) continues its very strong relative strength move, and remains on the top 25 list. Wednesday it jumped 2.08 to 23.04, or 10%. It was a very strong session. The volume was 312,000 shares traded, which is really good for that stock. It may need a rest, but look for something in the mid to high 20s.

Avago Technologies Limited (AVGO) has been acting very nicely. It popped across lateral price resistance on Wednesday taking out the low and the high, and the declining topsline. It was up 2.24 to 36.56, or 7%, on 4.7 million shares traded. It may be on its way to retesting the high up around 39 – 39 1/2 short-term. Intermediate target is set at the 43 – 45 zone.

Other stocks in our Charts for the Day are Coldwater Creek Inc. (CWTR), FiberTower Corporation (FTWR), Tangoe, Inc. (TNGO), Maxwell Technologies Inc. (MXWL), Silicon Motion Technology Corp. (SIMO), Akorn, Inc. (AKRX), Micron Technology Inc. (MU), Merge Healthcare Incorporated. (MRGE), Endologix Inc. (ELGX), Westport Innovations Inc. (WPRT).