On the long side some new, some old ones. Let’s start with BioCryst Pharmaceuticals, Inc. (BCRX ) and give you an idea where we’re at on this one. As you can see, a beautiful long-term channel’s underway that shows resistance up around 13 1/2, my next target, and then possibly something as high as 17 – 17 1/2. But the top of that channel measures in the high 20s, so it could be very interesting down the road.
Let’s look at it on the perspective of the 15-minute chart and you’ll see that this stock has been trading higher in the last couple of days, and it’s moved up from 9 to 12. That’s about a 33% move in just the last 5 or 6 sessions. However, the daily charts shows it coming up to test the key overhead resistance level from the August highs. A move through that could get us quickly into the 17 area or better. So, definitely one to keep an eye on it over the next few days.
My favorite stock in the shipping group is Genco Shipping & Trading Ltd. (GNK). It’s probably the best chart of all the shippers, which have been depressed lately, and has done well to go sideways in a coiling action for the last 5 - 6 months. However, look at today’s action. The biggest volume in many months. More that 5 million shares traded today. This stock jumped 3.04, closing at the high for the day, up 14.67%. Closing right at resistance. Any follow through here and it could get explosive. More importantly, look at the long-term channel. It shows upward of a possibility in the 40s somewhere in this stock. Short term there’s a high from the June high up around the 29 zone, then lateral resistance up around 34. Those are our trading targets for GNK going forward.
A new one we’ve spotted recently is Ion Geophysical Corp. (IO), which came out of a nice V bottom, and then formed a new up trend. The stock popped on news in October, backed off and retested the trendline and moving averages successfully, then broke out yesterday (Tuesday). Today it tried to follow through, just falling short of yesterday’s high, but if it does get through the 5.60 area, we can see an accelerated move that takes this up towards the 8 or 9 zone, potentially. So we’ll keep our eyes on that one, too.
Liveperson, Inc. (LPSN) certainly has potential to spiral up towards the 8 – 81/2 zone for a nice percentage gain.
Nanometrics, Inc. (NANO) had a big day today. Closed at 8.86, up 1.26 or 16.58% on 1.6 million. The heaviest volume in quite awhile, going back several years, actually. It could get up around 15 or so, but initial target is at 11 – 11 1/4.
Ocean Power Tech Inc. (OPPT) has quite a unique chart. A move across 10 and this one could get explosive. It’s rather thin.
Another new stock, SMART Modular Technologies (SMOD), had a 20% gain today, up 80 cents to 4.78.
Sinovac Biotech Ltd. (SVA), a vaccine group, finally broke out today and gained 37 cents to 8.86 or 4.36%. If it gets some good volume and goes through the 9.00 range, it could explode up towards 10 1/2 quickly, and maybe beyond.
The last one for today is a fairly new issue called Talecris Biotherapeutics Holdings Corp. (TLCR). Seen best on a 15-minute chart, you’ll see that after a huge break out yesterday morning, then a pullback, the stock backed and filled. They call it a rising wedge. A break out above 23 area could get it spiraling upward.
Those are some ideas for the rest of the week and beyond. Be sure to listen to Chart of the Day to get further information on each of the stocks mentioned tonight.
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