Future Stars: Stocks to Watch in 2011 – Update

It’s only one week since my post Future Stars: The IPO Holiday Gift List for 2011 so we can’t get ahead of ourselves but the list of 18 IPO’s from last week saw some wild swings, both up and down. Overall, the majority of the stocks moved up or down only a few percent, on average.

Recap:
11 of the 18 stocks are up an average of 7%
6 of the 18 stocks are down an average of 6%
1 of the 18 stocks is virtually unchanged

MCP was the biggest gainer with a 22% surge while MOTR dropped the most at 15%.

Future Stars: Top Performers (1-week update):

• MCP – 38.26, Molycorp was up 22% over the past week on the largest volume in nearly two months. I said this: “The current consolidation is ideal to shake out weak holders and allow new supports to jump on board.” Now, let’s see if MCP can blast to new highs (it’s an important test).
• QLIK – 26.14, Qlik Technologies was up nearly 12% on above average volume. As mentioned last week: “A move to new highs would be positive for grabbing shares.” A move to $28 or above would be very positive.

Future Stars: Bottom Performers (1-week update):

• MOTR – 20.00, Motricity dropped 15% last week on the largest weekly volume since it’s debut. I noted last week: “is consolidating back to its 50-d moving average”. The stock dropped hard Wednesday but reversed from it’s low and closed the week higher. It’s still a longer term opportunity. The key here is to reestablish trading above the 50-d m.a.
• ONE – 20.71, Higher One Holdings dropped 11.20% on above average volume but it stopped at the 50-d m.a. As mentioned last week: “Solid support is down near the $16 area with moving average support at the 50-d (just above $18).” Now is the time to buy shares if it holds support above $16-$18.
• KH – 18.20, China Kanghui dropped more than 11% on heavy volume as many Chinese stocks continue to get hit hard. The stock is currently trading at its support level so its key to hold above the $17.50 area.