Charts of the Day
by Harry Boxer, www.TheTechTrader.com

The stock market had a very interesting snapback on Thursday after a very nasty opening following WednesdayÕs late sell-off. They did a retracement back to key resistance and in the last hour they rolled over again. We took a look at the shorts in our last video, so weÕll cover, not only some longs, but some of our recent swing trades to see how they are doing.

8X8 (EGHT) had a big day on Thursday, up 59 cents, or 85, on 2.1 million shares. It went from 7.14 to 8.10 before pulling back and closing at 7.14. ThatÕs the best volume itÕs had all year except for a big down-day in February. As a result, with this stock crossing the multi-year highs and closing right at the upper end of the range, it wouldnÕt be surprising to see this stock continue its rising channel at some point and getting up to 10 plus. WeÕre holding off on any further swing trade until we see if it gets any downside or upside follow-through.

Hewlett-Packard Company (HPQ) had a big day on Thursday. We like this stock, but weÕre worried about the 5-wave advance that has taken place over the course of the last several months since November when it went up to resistance, and then pulled back sharply in April, held, consolidated, and on Thursday, it exploded for 3.63, or 17%, on 88 million shares. This stock popped from an opening at 23.24, pulled back to 22.90, and then went to 24.95 right at our target at 24.90-25.00. It backed up a little bit but not much, and closed near the high end of the range right at key-lateral resistance. Based on the overall structure of the weigh pattern and the channel angle, it looks like this stock is headed to 29. ThatÕs the next swing-trade target.

Nordion Inc. (NDZ) has an interesting chart. It shows a key breakout above key resistance, and ThursdayÕs breakout of 90 cents, or 12.6%, on 1.8 million shares, the biggest volume since February, gets it into the big-gap zone from the September disaster. There is some resistance slightly above here at the 8.15 range. If it gets through that, we could see 9 and then 10,. It's also a potential swing trade here based on the breakout on Thursday on heavy volume.

ServiceSource International, Inc. (SREV) had a big breakout on Thursday as it moved across key-lateral resistance. The volume surged to 2.3 million shares, and it's another stock we would put out as a swing trade normally, but weÕre waiting to see what kind of market follow-through it gets.

Other stocks on HarryÕs Charts of the Day are ACADIA Pharmaceuticals Inc. (ACAD), Aegerion Pharmaceuticals, Inc. (AEGR), Ambarella, Inc. (AMBAImmersion Corporation (IMMR), MannKind Corp. (MNKD), Revolution Lighting Technologies, Inc. (RVLT), SolarCity Corporation (SCTY), Sarepta Therapeutics, Inc. (SRPT), TearLab Corporation (TEAR), Tesla Motors, Inc. (TSLA), MEMC Electronic Materials Inc. (WFR), and Weatherford International Ltd. (WFT).

Please click here for the full Charts of the Day video.

Good Trading!

Harry

Harry Boxer is an award-winning, widely syndicated technical analyst and author of The Technical Trader (www.thetechtrader.com), which features a real-time diary of Harry's minute-by-minute trades and market insights, plus annotated technical charts & stock picks, based on Harry's nearly 40 years experience as a Wall Street technical analyst.

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