Sep 3, 2010 9:02 AM PDT
The bulls have taken charge as we head into the last bit of today's trading, though the rally from the indices isn't quite reaching down into the charts of the vast majority of stocks. Still. A handful of small caps (and one large cap) have caught a few traders' fancies though. Here's a technical trading look at Radient Pharmaceuticals Corporation (AMEX:RPC), Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX), Eastman Kodak Company (NYSE:EK).
Love it or hate it, you can't deny that Eastman Kodak Company (NYSE:EK) shares are on a roll. As such, the recent rebound may be a high-odds move that merits a few speculative bucks.
The overreaching driver of this uptrend from EK is the rising support line (orange) that rolls back to last November. It's been a volatile ride to be sure, but that floor has been a reliable one for Eastman Kodak shares. The blue horizontal lines were a potential trading range (and future floors or ceilings) that this stock could have been shackled by, but with today's move to $6.28, this chart has pretty much shrugged those pitfalls off.
All told, this is largely case of two excess reactions. The first one was the ridiculous runup from Eastman Kodak in April, and the second was the ridiculous pullback over the last two weeks. Now that EK has stabilized, look for the moderate uptrend to be resumed. 
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Looks like the uptrend that Catalyst Pharmaceutical Partners, Inc. (NASDAQ:CPRX) started with a one-day-wonder move back in early April is going to be renewed after all. For several weeks now, the pullback from CPRX continuously encouraged profit-taking. As of today though, this small cap has broken out of its rut by breaking above a key resistance line (blue).
It's all pretty clear on the chart of CPRX below; that falling resistance line is clean, and the break above it is clear. While the volume hasn't been as solid as I'd like to to see with a breakout, clearly there's more buying volume for Catalyst Pharmaceutical shares than selling volume.
If you wanted to play it ultra-safe, you could wait for a move back above the 61.8% Fibonacci retracement line, currently at $1.45. In fact, given that lack of volume, I'd specifically do that before stepping into a Catalyst Pharmaceutical Partners trade.
And finally, though the broad market is soaring today, Radient Pharmaceuticals Corporation (AMEX:RPC) is not only struggling, but is approaching (again) a meltdown level.
That make-or-break line in the sand for RPC is $0.88, marked in blue on the chart below. It's been brushed twice, though hasn't actually caved in yet. The third time's the charm though, so anybody concerned about today's weakness from Radient Pharmaceuticals is rightfully worried.
If the $0.88 level does break down, there's not another floor in sight until you get back to the $0.23 cent level; there's a gap between here and there as well. While I don't know that Radient Pharmaceuticals Corporation will need to stumble all the way back to that value to adequately shake off all the selling, I wouldn't dismiss the idea either. 
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