Market Overview

KKD, ORS, SWI, ZAGG Among Charts to Watch

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KKD, ORS, SWI, ZAGG Among Charts to Watch By Harry Boxer, www.TheTechTrader.com an AdviceTrade.com publication

The market had a great day on Tuesday. It was the best in a couple months, but snapped back from oversold conditions. Let’s hope that we are going to rally for at least the next few days. But we’ll have to wait see.

Krispy Kreme Doughnuts, Inc. (KKD) had a significant price-volume surge on Tuesday, up 80 cents, or almost 10%, on 3 1/2 million shares traded. That’s the biggest volume in about 2 1/2 weeks. The flag pattern that formed over the last week or so should lead to a quick test up around the 9.75 area. If it gets through that the next target is set at 11.00.

Orsus Xelent Technologies Inc. (ORS) has been a monster this past week, moving from under 2.00 to over 7.00. Tuesday it was up another 1.10, or 20%, on 3.1 million shares. Although it’s up against overhead resistance, it may take some sort of potential pullback for a consolidation. Momentum may take this one higher. Short-term target is at 7.30, intermediate target set at 8 1/2 - 9.

SolarWinds, Inc. (SWI) had a key breakout on Tuesday, up 1.71, or 7%, on 2 1/4 million shares. That’s the heaviest volume since November of last year. Lateral price resistance was taken out by a thrust, and now a move to the top of the channel around 28, or so, may be had. That’s the target for SolarWinds.

ZAGG Incorporated (ZAGG), after breaking out and pulling back in a beautiful flag on low volume, it popped in the last five days going from 10.25 up to 13.05. Although it may pullback and consolidate at some point, momentum should carry this one higher. Look for something in the mid teens, and then the high teens.

Other stocks in our Charts for the Day are Affymetrix Inc. (AFFX), Chelsea Therapeutics International Ltd. (CHTP), CVR Energy, Inc. (CVI), Global Crossing Ltd. (GLBC), Glu Mobile, Inc. (GLUU), Ironwood Pharmaceuticals Inc. (IRWD), Magma Design Automation Inc. (LAVA), Macquarie Infrastructure Company LLC (MIC), Mitcham Industries Inc. (MIND), Oncothyreon Inc (ONTY), Pharmacyclics Inc. (PCYC), RiT Technologies Ltd. (RITT), 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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