Biotechs (LABU) looks like they want to go higher.
DVAX: Stock moved strongly today up to lateral resistance at $10.70 and closed at $10.65. It needs to get through $10.70 with conviction. If so then$13.50 is my price target. Short ratio 3.2 days to cover.
GNCA: Stock broke out of a declining channel (orderly retrace) today trading as high as $6.04 and closing at $5.83. The longer term chart is not that strong but I would look for it to trade to $6.30 tomorrow and $then $7.25 is my next target. But with a short ratio of 11.9 days to cover, a squeeze could happen to carry this stock higher.
IMGN: Stock is at the lower end of the up trending channel and today popped out of the orderly retracing channel. It traded as high as $6.38 closing near the top of its range at $6.34. Over $6.50 and I think it is a good swing over the next few weeks to $8.00 and then $10.00. Short ratio, 5.3 days to cover.
IPXL: Just a stock that looks like it wants to go higher. It has broken through the neck line of a reverse head and shoulders pattern and today it broke out of a wedge formation. Price target $21.00 and $26.00. Short ratio, 4 days to cover.
KRO: Stock is at the lower end of the up trending channel. Today it broke out of the wedge formation trading as high as $21.10 closing at $20.27. I would look to go long over $21.10 with $23.00 as the target. Short ratio, 4.4 days to cover.
Hi Bob. Can you explain where you get your indices tickers from? For example: LABU
Bob, on $IMGN did you mean a good swing over the next few days instead of weeks?
LABU is a leveraged ETF. It just represents the sector.
It is not as volatile and so over the next 2 weeks.
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