Three Top Charts With SigmaForex

Our first Chart of the Week is Converted Organics (COIN). As you can see on the daily chart, a long decline that lasted about six months brought it down from 17 to the 3 1/2 area. The stock bottomed in August, and then a price volume surge took it from about the 3 1/2 to 7 range in about a five-day period. A two-day pullback did about a 50% retracement, and that's when we added to our model portfolio.

Our next stock and Chart of the Week is Clean Energy (CLNE), which we've mentioned a few times in the last couple weeks, and there's no question as to why. Take a look at the relative strength of this stock in a market like we've had recently. Here's a move from 10 to nearly 20 in the course of the last 2 1/2 months.

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The stock completely accelerated in eight sessions through the end of last week with a thrust in volume and technicals, breaking out over the 15 level and running up to Thursday's high of 19.69. What really is impressive is that the stock continually comes back from intraday sell-offs and closes near the highs for the day. Certainly the mini-channel bottom that was hit on Friday morning at around 17.79 reversed sharply as it closed at 19.04.

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Finally this week we highlight Biodelivery Sciences (BDSI). An impressive price volume surge occurred a couple weeks ago. On Thursday and Friday of that week the stock exploded on volume on some strong news and doubled from about 2.40 to near 4.80, with 4.74 being the high. Over the last four days of this past week it's had a nice pullback on lower volume, with much lower volume on Friday, in particular, and it appears to be in a bullish flagging formation. This is one of my favorite patterns: a flag right out of the breakout of the base pattern.