ARNA, CLSN, HALO, TEAR - Stock Charts to Watch
Charts of the Day video for Mon January 14th 2013
There was some sloppy action and the stock market ended mixed on Monday. Many of the stocks we follow are still doing well. We were going to go over the short side, but decided not just yet. Instead, we’ll take a look at some of the longs we have been following and swing trades that we put out.
Arena Pharmaceuticals, Inc. (ARNA) has a nice base and a long pattern that goes back to July. It ran up May, June, July, which took it from 2.25 to 14, almost seven-fold in just a couple months. Then it resulted in a big consolidation, freebased, and now it’s up against resistance near the 10.35 range, reaching as high as 10.31 on Monday, and closing at 10.20, up 54 cents, or 5.59%, on 20 million shares. That’s the second biggest volume in a couple months. If it does follow through on Tuesday, we could see this stock run quickly to 12, the short-term target, and then to the secondary target at 14.
Celsion Corp. (CLSN) has been acting great. We put another swing trade out on it on Monday. There was a wonderful trade during most of November that went from the 4.00-range up to 8.50 or so. It consolidated in a wedge the last few weeks, and may have popped out of it on 2.9 million shares on Monday. That’s the biggest volume in two or three weeks. It closed at 27.22, up 2.39, or 9.6%, and looks like it may run up to test the 10 3/4 zone, which is the near-term target.
Halozyme Therapeutics, Inc. (HALO) had the declining topsline and lateral price resistance taken out as well as the flag that was in that same area. It popped, pulled back for a couple days, and then exploded on Monday, up 1.12 to 8.34, or nearly 16%, on 3 million shares. That’s the second biggest volume since September. At this point, if it can get across the line where it closed on Monday, then it should be able to get up around 10-10.25.
TearLab Corporation (TEAR) was put out as a swing trade, and it popped through resistance, pulled back to retest that zone, and then it bounced, up 13 cents to 5.44, or 2.45%, on nearly a half million shares. That was the best volume in the last three or four sessions. It looks like it can extend. The long-term chart shows some big upside in the 10 zone, which means it will have doubled if it makes that move up.
Other stocks on Harry’s Charts of the Day are ACADIA Pharmaceuticals Inc. (ACAD), Amyris, Inc. (AMRS), Acme Packet, Inc. (APKT), BIOLASE, Inc. (BIOL), Flowers Foods, Inc. (FLO), Krispy Kreme Doughnuts, Inc. (KKD), Opko Health, Inc. (OPK), Perion Network Ltd (PERI), Research In Motion Limited (RIMM), Sangamo Biosciences Inc. (SGMO), and TrovaGene, Inc. (TROV).