CMTL, REGN, WPRT, SGEN Among Charts to Watch

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The stock market has had three consecutive up days this week. Friday may possibly be a consolidation day. We’ll just have to see what occurs. For now, we’re going to continue to look at stocks that are looking very well.

Comtech Telecommunications Corp. (CMTL) had a significant price-volume surge since rumors that it is attracting potential takeover interest from several government contractors. It completed a head-and-shoulder bottom, a thrust, and breakaway gap on Thursday. It popped 2.70, or almost 10%, on 2.2 million shares traded. This stock is at the highest level since December of last year. There is resistance at that level, and we’re going to be watching to see if it takes it to the trading target up around 32 1/2 short-term. If it gets through that, look for something around the 35 – 36 level.

Regeneron Pharmaceuticals, Inc. (REGN) continues to act great. After spiking up, and then coming down hard with the market, and breaking key support as it blew right through that on Thursday, it was up 5.35 to 61.73, or 9.3%, on 1.2 million shares traded. It’s right back up at the 50-day, lateral price resistance, and the 21-day moving average. It looks like it could start to run again and get up into the mid to high 70s. That’s the trading target on this one.

Westport Innovations Inc. (WPRT), a swing trade recommendation, followed through nicely. Thursday it was up another 1.47, or 5 1/2%. It traded 1.1 million shares. That’s not excessive, but it is up against resistance. So, look to see if it will accelerate to test the 30 range. That’s the short-term, swing trade target. If it gets through that, a retest of 33 is in order, and eventually, though, look for something up around the 40 – 42 zone.

Seattle Genetics Inc. (SGEN) just continues to be explosive looking. After a quick pullback around 17.80, it held the trend line, and then exploded right back up to the June high at 21.41, and should it get above that level, it could move up to the 23 – 24 zone short-term.

Other stocks in our Charts for the Day are Echo Therapeutics, Inc. (ECTE), Emergent BioSolutions, Inc. (EBS), Constellation Brands Inc. (STZ), Nuance Communications, Inc. (NUAN), Questcor Pharmaceuticals, Inc. (QCOR), Liquidity Services, Inc. (LQDT), Smart Balance, Inc (SMBL), BioMarin Pharmaceutical Inc. (BMRN), MELA Sciences, Inc. (MELA), Cubist Pharmaceuticals Inc. (CBST), Endologix Inc. (ELGX), Alexion Pharmaceuticals, Inc. (ALXN), Mitek Systems Inc. (MITK).