New record highs for the indices today. Markets continue to power higher. And as I have been writing lately, the biotechs (LABU) are surging. LABU up 16.5% today trading over $102 and closing at the top end of its range.
ARRY: One of the strong moves by a biotech that I have been writing about lately. Stock traded through the double top at $14.50 trading as high as $16.00 and closing at $15.56. On the short term I would see this stock trade to mid channel at $18.00 with the top of the channel coming in at $35.00. Short ratio 4.6 days to cover.
CBIO: Nice break out from my $16.00 alert and today trading as high as $21.50 (tagging my $21.00 price target) and closing at $21.21. This is a key area of resistance for it. This stock has come from $4.50 to $21.00 so it may need to back and fill in here. But if it breaks out over today's high $30.00 is the price target.
CENX: A swing trade I put on last week that got whacked when the Alcoa earnings came out. But since then it has recovered and today traded to $23.07 closing at $23.04. The upper channel line comes in at $24.00 resistance. Above that and we should see $28.00. Short ratio, 4.4 days to cover.
COLL: Stock has made a big move the last two days popping from my $21.00 entry level up to my first price target of $25.00 ($25.02) before closing at $24.32. If it breaks through the $25.00 resistance level then $29.00 is the price target. Short ratio, 10.8 days to cover so could add momentum to the trade.
FATE: Nice winner from my watch list last night as the stock traded as high as $8.29 and closed right at the top of the range. With a strong close like that I would expect a follow through tomorrow. It does find resistance at $8.75 and then the channel top at $11.00. Short ratio, 4.6 days to cover.
HTGM: Back in April, this stock spiked to $13.00 and then pulled back and formed a base. Then earlier this month it spiked up to $4.55 and pulled back over the last few weeks. Today it popped out of the bull flag it was forming and traded as high as $4.10 closing at $3.84. Over $4.55 and I would look to go long. Price targets $6.00 and then $8.00.
IMMU: After breaking out over $15.00 the stock has been building a base in a sideways consolidation pattern. Today it traded up to the triple top at $17.18 closing at $17.15. If it can break through the overhead resistance then the price target is $25.00. Short ratio, 9.3 days to cover.
IOVA: Broke out through resistance at $10.00 yesterday and traded as high as $12.25 today closing at $11.85. It has been up for 8 days in a row now so may be getting extended. But if momentum continues, then $13.00 and $14.00 are price targets. Short ratio, 6.7 days to cover.
KODK: After popping to $13.50 on block chain news the stock pulled back and held support at $8.00. After 4 days of consolidation it popped today through lateral resistance at $10.50 trading as high as $12.00 before closing at $11.55. I would go long over $12.00 with $13.50, $15.00 and $17.00 as price targets. Short ratio 18.3 days to cover.
VUZI: Stocked popped out of its wedge formation today trading as high as $9.30 closing at $9.25. It needs to get through $9.50 with $12.00 as the price target. Short ratio. 7.3 days to cover.
XXII: Long rising multi week channel. Nice strong chart. Traded as high as $4.18 today closing at $4.16. Price targets $4.50 and $5.50.
Thanks for the watchlist. Two questions on stocks on previous watchlists: Where have you set your stop for MARK? Do you think CORT is overextended now (I am in since 22sh, do you think it's topping now?)?
$MARK, under $12.00 is my exit. It is up 5 days in a row and near th etop of the hannel. But I will stick with what I wrote on my watch list
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