Naz News, Gappers and FLE's

[chrich12]

MCP, DECK, EQT, NDSN, GMCR Among Charts to Watch

Molycorp, Inc. (MCP), unfortunately, is among that list. It broke a little flag and cracked on Wednesday, dropping 3.96 to 24.04, or 14.14%, on 7.67 million shares, and increase in volume, while most of these stocks were low in volume on Wednesday. There’s some support around 21 that may be tested shortly, which could give this stock a 3-point raise potentially.

Deckers Outdoor Corp. (DECK) formed a rising head-and-shoulder over the last several months, cracked with a breakaway gap, bounced, and then came down on Wednesday, dropping 2.64, or 3%. It looks like it could crack again at this point into the low to mid-70’s.

EQT Corporation (EQT), with it’s massive top formation, dropped, gapped up, stair-stepped it’s way back down, started back up again, but formed a bear flag near the moving average, and dropped again on Wednesday, down 1.28 to 54.66, or 2.3%, on low volume. If it gets just underneath the moving average, it could drop to 47 - 48 very quickly.

Nordson Corporation (NDSN) looks extremely bearish. It’s massive top in July up around 59 was broken, a double-top multi-month wedge that formed in the 49 zone was broken, it rolled over hard in the last week and a half, reaching the 39 area at one point. It formed a little bear wedge that took it up a few points, however, on Wednesday it dropped 84 cents to 40.38. It looks like it’s about to crack and retest the October lows around 37, and may potentially run all the way down to the 32 - 33 zone.

Green Mountain Coffee Roasters Inc. (GMCR) continues to look ugly. In the last four months, this stock has gone from nearly 112, all the way down to 46. During that time, it broke hard, wedged, broke hard again, wedged again, and broke hard one more time. Now it's formed a little bear pennant. If it cracks to the downside, this stock could rollover, and rollover hard, right into the low 30’s. Keep an eye on this stock.

Other stocks in our Charts for the Day are Kraton Performance Polymers Inc. (KRA), HollyFrontier Corporation (HFC), Magna International, Inc. (MGA), Bunge Limited (BG), Abercrombie & Fitch Co. (ANF), BMC Software Inc. (BMC), Franklin Resources Inc. (BEN), Waters Corp. (WAT), wpi, FactSet Research Systems Inc. (FDS), and Green Mountain Coffee Roasters Inc. (GMCR).

http://www.advicetrade.com/chartsoftheday/MCP-DECK-EQT-NDSN-GMCR-Among-Charts-to-Watch-20111228852.html

Nice video of his charts.