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Charts of the Day

|Includes: EXACT Sciences Corporation (EXAS), IDT, JOBS, REDF, SIFY

By Harry Boxer

Today I’m going to talk about several stocks that we’ve highlighted recently as swing trades and a few other emerging ones.

Exact Sciences Corporation (NASDAQ:EXAS), a recent swing trade pick which has moved very nicely from the 5.00 range to 6 3/4, has reached two of my trading targets at 6 1/4 and 6 3/4. It backed off this morning at 6.16, but came on again, and closed up 26 cents, or 4%. Looks like this is not done yet. New target now is around 7 3/4.

IDT Corporation (NYSE:IDT), in a beautiful rising channel for the last year, at this point appears like it’s coming out of the coil pattern that it was consolidating in, and over the last four days it’s moved up steadily, from 15 1/2 up to as high as 18 1/2 today, reaching a resistance zone and backing off. My opinion is that this will be taken out, and then the stock will move into the low 20s for my short-term trading target. Mid-to-high 20s intermediate target.

51job Inc. (NASDAQ:JOBS) exploded through the 29 1/2-30 zone.  We added it as a swing trade and this stock has now moved up about 8 points and fulfilled our trading target on the short-term basis, but still it doesn’t show any signs of letting up. We may see something in the low-to-mid 40s very shortly. India Ltd. (NASDAQ:REDF) has had an explosive move in the last two and a half weeks, moving from 2.00 to nearly 6.00 today, reaching 5.89, up another 86 cents, or 17.7%. You can see this stock has got very strong momentum short-term. It’s gone through two layers of resistance. The third target, and what I’d call swing trade possibilities, is up around 6.90 to 7.25, in that zone. If it reaches there, that will be a place, maybe, to consider exiting short-term.

Sify Technologies Limited (NASDAQ:SIFY) has been moving of late, going from 1.27 to 2.43, and it looks like my target at 2 3/4 may be met very shortly. Step back and look at the overall pattern and you’ll see that the long-term down channel was broken, lateral price resistance was taken out, retested, and  then popped.  A move through the 2.75-2.90 zone could see this stock at 4.00 - 5.00.

Other stocks highlighted on Charts of the Day are Amtech Systems Inc. (NASDAQ:ASYS), Ebix Inc. (NASDAQ:EBIX), HealthSpring Inc. (NYSE:HS),  Infinera Corp. (NASDAQ:INFN), McMoRan Exploration Co. (NYSE:MMR), Rare Element Resources Ltd. (NYSEMKT:REE), Savient Pharmaceuticals, Inc. (NASDAQ:SVNT), and VirnetX Holding Corp (NYSEMKT:VHC)

Disclosure: No holdings.