CLDX, GENE, ONXX, ROSG - Stock Charts to Watch
Charts of the Day video for Thu May 24th 2012
There’s been a lot of activity in the junior biotech stocks, so we’re going to take a look at the ones that we consider to be the top ten.
Celldex Therapeutics, Inc. (CLDX) had a significant surge on Thursday. This stock popped about 22 cents, or 5%, on 7.3 million shares. That’s the heaviest volume for this stock in a long time, and may be significant in that it’s coming across the recent spike high at 5.52, reaching 4.70 on Thursday, although it did back off to close at 4.48, right on the trend line and 50-day moving average. Let’s see if this pops back up and follows through in the next few days. If it does, look for a retest of the 5 1/2 area, and beyond that, look for something around 6 1/2.
Genetic Technologies Ltd. (GENE) has had very nice moves in the last couple sessions. In just 3 days this stock popped through 2-3 layers of resistance, on Wednesday, it had an inside day backing off, and on Thursday, the volume exploded 5.8 million, and jumped 2.22 to 5.76, or 63%. It backed off a little, but closed at the upper end of the range. At this point, look for a follow-through that could get this one up toward 7-7 1/2 short-term.
Onyx Pharmaceuticals, Inc. (ONXX) had a nice day on Thursday, up 2.45 to 46.41, or 5.6%, on 2.1 million shares. It cleanly broke out of a large wedge pattern, held the trend line and 50-day moving average. The turn-around has been nice on this stock. Look for a test of the 47.80 area, and if it gets through that, look for something up around 50.
Rosetta Genomics, Ltd. (ROSG) is the star of the year, maybe, having gone from 1 1/2, all the way up to 23.40, in about 7 sessions. It popped last week, consolidated for a couple days, and on Monday, it popped right near resistance, on Tuesday it had an inside day, Wednesday was a great day, and then on Thursday, it popped again, up 5.05 to 16.29, or 45%, on 8.7 million shares. Support lies in the 11 1/2 to 13 zone. If it holds there, this stock may very well have more upside to go.
Other stocks in our Charts for the Day are Amarin Corporation (AMRN), Complete Genomics, Inc. (GNOM), Idenix Pharmaceuticals Inc. (IDIX), Isis Pharmaceuticals, Inc. (ISIS), Onyx Pharmaceuticals, Inc. (ONXX), Rosetta Genomics, Ltd. (ROSG), Repros Therapeutics Inc. (RPRX), and Vermillion, Inc. (VRML).