Today I’m going to start out with the definite winner for the day. That was Opexa Therapeutics, Inc. (OPXA), which jumped 267%. After the gap up at 2.64, I indicated to our subscribers to buy the first pullback, and sure enough it got back down to 2.22 before rocketing for the rest of the day, to believe it or not, just near 7.00, at 6.93, before closing back at 5.62. Up 4.09 for the day. At one point it was up over 300% in one session. The volume was 56.8 million shares, by far the heaviest in history.
In early Aug there was a break away gap and a big volume surge, a one day bump similar to today, and then it settled down and went sideways in a coil on very low volume for about two or three weeks. Today it gapped up and exploded. On the intraday chart, which I find most telling, there was a big gap up, an early pullback, a run up and flag three times, a nice five-way move. It went from 2.20 to about 3.94 inside of the first hour. After that there was an hour-long flag, then it started to move again.
It stair-stepped up in five waves, flagged again, then exploded in a 3-way advance off of that and reached 6.93 before pulling back and reconsolidating and retesting over the last couple of hours. Certainly a very impressive performance, and with that kind of performance, the long-term chart shows that it broke out above the early Aug high, the Aug-Sept highs of last year, and even took out the Jan ’08 high, and is at the highest level it’s been in about two years now. It showed extremely strong volume action and price action.
Sinovac BioTech Ltd. (SVA) is another stock that had an interesting day today, which opened at 9.50 and went to 10.33 before backing off, but still up 61 cents today on increasing volume. Definitely with OBV at new highs, you’ll want to keep an eye on this one for a potential breakout of a mini flag and an explosion into the low to mid-teen potential.
Advanced Micro Devices (AMD) had a big day today. Even though it’s a heavily capped stock I want you to see the action on it. Checking out the long-term declining top side, which has taken three and a half years to break out, it finally got that break out about a week and a half ago, consolidated for four or five days, and then today exploded, not only 66 cents or 15% on 73 million shares, which is the heaviest volume all year, but it took out the May-June highs and closed just beneath the high for the day going away. It had a very strong performance. You can expect prices to get up to about that 6.50 area, my short-term trading target.
Solar energy stocks had a big day today, and one of my favorites has always been Canadian Solar Inc. (CSIQ). Looking at the chart you’ll see a really neat 4-week down channel that went from early Aug until today when it was broken. It also took out the 21-40 day moving averages, and closed near the mid-Aug snapback high. If it gets through the area of resistance, we’ll see a retest at the 20.00 level, beyond that, forecasting the top of the channel somewhere in the high 20s. This stock could be a real runner along with several stocks in that group, which also had a good day today.
I want to point out that LDK Solar Co (LDK) has the highest short interest of any of those and it had a pretty good session today.
Moving on to MannKind Corp (MNKD), the chart shows today’s action breaking out of a three-month coil on heavy volume, which was significant, and if it takes out the 9.25-9.35 zone from early June, it could run into the 10.00-11.00 range, maybe even as high as 12.00 short term.
It’s a beautiful chart. Looking at the long base it formed prior to the run up in Feb-Mar-Apr before that coil formed, you’ll see terrific technical action.
MDS Inc. (MDZ), a healthcare services firm, formed a nice base, broke out last week, settled in for a couple of days, and started surging again up 38 cents, on volume of 448,000 today. It’s right up against the spike high and if it starts to accelerate, it may move toward the 10.50-11.00 range.
Oculus Innovative Sciences, Inc. (OCLS), which bounced off the bottom of its trendline and channel bottom repeatedly. It got up to 3.06 today, which is near the resistance level I drew across the chart, backed off, but if it comes on again tomorrow and takes out the 3.09-3.10 zone, it could surge up to the 4.00 level, maybe even 4.50-4.75, as high as 5.00 wouldn’t surprise me either.
Once again here are some really good stocks to keep an eye on and monitor.
