ENS, OSG, URI, FTNT Among Charts to Watch

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Wall Street certainly had its ups and downs on Thusday, but all was well at the end of the day as the market closed on a positive note. So, once again, we’ll be highlighting some stocks that are moving, breaking out, and looking good.

EnerSys (ENS) came down hard from a topping pattern where it spent most of the year, it plunged in June, July, and August down to the 17 range, bounced, retested, and came back up. A breakout occurred, and then it had a back-and-forth kind of consolidation above the moving averages in October, which was positive for Thursday's action, up 1.16 to 26.22, or 19%, on 2.55 million shares. It had a breakout, a strong move up, and closed at the high end of the range. At this point, look for that move to continue upward and get up near 30 – 31 short-term.

Overseas Shipholding Group Inc. (OSG) is another one of our shipping stocks that had a big day on Thursday with the Baltic Dry Index improving. It’s been on a down trend for the last few months, and Thursday’s move slightly took out the declining topsline. It closed at the high end of the range within pennies off the high, up 1.67 to 14.37, or 13%, on 1.96 million shares. It’s just under the 50-day, and if it gets a follow-through, look for a move up to about 16 1/2.

United Rentals, Inc. (URI) is acting very well, and on Thursday it popped 1.88 to 25.82, or 7.8%, on 3.6 million shares. It looks like it’s about to test and take out the lateral price resistance from the multiple highs. If it does, it could reach the 33 – 35 zone potentially.

Fortinet Inc. (FTNT) had a nice day on Thursday, up 1.70 to 24.97, or 7.3%, on 3.8 million shares traded, which was an increase in volume. The thrust over the last month moved from 15 1/2 up to 25 1/2. It continues to fill a gap, and if it gets a pullback supported around 23, the target is around 28.

Other stocks in our Charts for the Day are SMTC Corp. (SMTX), Torch Energy Royalty Trust (TRU), Frontline Ltd. (FRO), Flotek Industries Inc. (FTK), Genco Shipping & Trading Ltd. (GNK), Heckmann Corporation (HEK), KIT digital, Inc. (KITD), C&J Energy Services, Inc. (CJES), Procera Networks, Inc. (PKT), SuccessFactors, Inc. (SFSF).