ICO Global Communications is a space bound company operating medium orbit based satellites. The company aims to provide wireless voice, video and internet services in the United States. While the company has an exciting business model it is important to note that ICO filed for Chapter 11 bankruptcy in 2009. Showing 51-million in cash and just 15-million in debt, ICOG seems like it has found its financial footing for the time being. Despite past financial hardships, the company is heavily owned by insiders and institutions with 24% and 34% respectively.

The company has been the target of short sellers the past 3-years since its Chapter 11 filing. Making a low of just .12 in late 2009 the stock is now valued at $3.23 as of June 24, 2011 at market close. Although the company is speculative in nature and has seen major upside already, we believe another push up could be just around the corner. The Russel 2000 index re-balancing last Friday resulted in a major move higher for ICOG on heavy volume at the close. As the stock punches through old highs some of the 6% (4.2 million) share short interest should begin covering. If the overall market can hold steady, we think ICOG can reach $3.60 in the near term based on its chart.

With several Japanese auto manufacturers weakened by climatic events, Ford Motors (NYSE: F) may have got the break it badly needed. Both Honda and Toyota motors have been weakened from the destruction overseas. Coincidentally, Ford and General Motors have seen some buying activity on speculation of increased market share. The chart clearly shows an upsloping support line providing support to the stock. We used the latest test of this line as a buying opportunity.

Drilling and exploration has been hit and miss over the past few years as British Petroleum caused a drilling moritorium after one of its ocean wells exploded. That hasn’t stopped a few of the small cap names from producing modest gains. Hercules Offshore (NASDAQ: HERO) is one driller with the right ingredients for a big move in share price. It has a low share float and high short interest (7%) providing explosive potential. With oil over $100 per barrel we believe drillers are poised for huge growth going forward. The stock has formed a pennant pattern on its 3-month chart and has used the 13-day exp moving average as support.

While you may think of a pizza franchise being a boring investment, Papa Johns (NASDAQ: PZZA) may prove otherwise. Taking over the pizza world, Papa Johns operates over 3,000 stores in 50 states. The company has a solid looking chart, breaking out of a 2-year base in recent weeks. As the company trends higher in coming weeks, we think it could make another run at blue skies. While the stock faces headwinds like rising commodity costs and weak consumer strength, sales somehow continue rising. Markets have sold off in recent trading, but Papa John’s continues to grind higher. Watch this stock over the next 3-months as it gains upside momentum.

After two years of consolidation in a large triangle pattern Sprint (NYSE: S) has made a technical breakout. Trading over 150 million shares and gapping up, Sprint pierced through $4.80 trendline resistance and hasn’t looked back yet. With followed through momentum and continued talk of a deal with T-mobile the company looks poised to make a run. Judging by prior reaction highs the stock should be able to hit $5.35 before meeting resistance.

F5 Networks (FFIV) gave us a headfake today as the market moved lower on the US jobs report. Testing a major trendline, F5 found support and is now moving back up in a tough tape. We expect strength in F5 Networks going forward until that major support line is violated to the downside. The head & shoulders pattern shown in the chart above remains intact, although it has not been confirmed yet.

Michigan based energy company DTE Energy (NYSE: DTE) has seen its stock price base between $44-$47 per share this past year. Recent trading activity should generate more excitement as the stock broke above $47.55 with higher volume. If we see follow through into next week DTE could make a 3 point run and a move toward blue skies.