AXAS, GLNG, JVA, PQ Among Charts to Watch

AXAS, GLNG, JVA, PQ Among Charts to Watch By Harry Boxer, www.TheTechTrader.com an AdviceTrade.com publication

The market had a spectacular day on Tuesday and a lot of the stocks that we follow had a wonderful day. So, now let’s take a look at some of those stocks.

Abraxas Petroleum Corp. (AXAS), a junior oil stock, is moving again. Consolidation that formed over the last six or seven sessions was broken on Tuesday with a thrust, up 62 cents to 4.97, or 14%, on 5.1 million shares. That’s the biggest volume in about three or four weeks. This stock may test the 5.20 - 5.29 area soon, and a move through that area could take it up to reach the February highs up around the 6 - 6.15 zone.

Golar LNG Ltd. (GLNG) formed a little coil, or wedge, over the last six or seven sessions, and broke out of it on Tuesday by popping 1.50 to 39.15. If this stock gets to 39.90, it could get to 33 short-term, 47 - 48 intermediate-term.

Coffee Holding Co.Inc. (JVA) had a nice extension. It did back off the high on Tuesday, but it was still up 1.84 to 23.42, or 8 1/2%, on 2.2 million shares traded. Bouncing off the internal trend line and 21-day moving average, it very well may extend back up to test the 30 area. Look for something around 28 - 30 short-term.

PetroQuest Energy Inc. (PQ) is another junior oil that had a good day on Tuesday. It popped 8.32, up 1.17, or 16%, on 2.5 shares traded. This stock looks like it not only took out the declining topsline, but the 50-day moving average and lateral price resistance. Look for something in the 9 1/4 - 9 3/4 zone as the next target on PQ.

Other stocks in our Charts for the Day are Asia Entertainment & Resources Ltd. (AERL), Caribou Coffee Company, Inc. (CBOU), Flotek Industries Inc. (FTK), FX Energy Inc. (FXEN), Hansen Medical, Inc. (HNSN), ICAgen Inc. (ICGN), New Energy Systems Group (NEWN), Oncothyreon Inc (ONTY), Volcano Corporation (VOLC), Westport Innovations Inc. (WPRT), Express-1 Expedited Solutions Inc (XPO), Crosstex Energy Inc. (XTXI).

To view the complete video chart analysis of Harry's Chart of the Day, please visit http://www.thetechtrader.com/chartofday/. To sign up for a Free 15-Day Trial to Harry's Trading Diary, please visit https://www.thetechtrader.com/reg/cod

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