It was an interesting day on Tuesday, down at the open, and then back up again, closing mixed, but there are a lot of stocks that we follow that did well, and some trading opportunities.
Bonanza Creek Energy, Inc. (BCEI) has a very nice pattern, an inverse head-and-shoulder, a breakout, a wedge, and then a another breakout on Tuesday, up 94 cents to 8.52, or 12.4%, on 3.5 million shares. It looks like it is going to test the 10-10.20 zone short-term, and when it gets through that, the target is 13.
ConocoPhillips (COP) is doing very well. It had a swing put on it, it pulled back, bounced, formed a double-top, pulled back again, formed a double bottom, it turned when it held and so did the 50. On Tuesday, it popped out of a wedge, jumping 2.04 to 55.32, or 3.8%, on 8.2 million shares. It has 3 1/2 days to cover. Look for it to test and take out 57 1/4. Once it does that the target is 60.
Intra-Cellular Therapies, Inc. (ITCI), one of our favorite biotech’s right now, had an explosive move on positive news, then a 50% retrace to test support, and it is now moving up steadily in a rising channel. If it gets to the top of the channel to 62-63, that would challenge recent highs at 60.79. Tuesday’s high was 57.74, so it’s not too far away from the target.
Neogenomics Inc. (NEO), one of our swing trades, looks like it may finally be emerging. On Tuesday, it popped 18 cents to 8.30, or 2.27%, on 475,400 shares traded. It’s challenging its high near the 8.20 level, and if gets through that, it could see 9, and then 9 3/4.
Other stocks on the long side include Abercrombie & Fitch Co. (ANF), Callon Petroleum Company (CPE), Constellium N.V (CSTM), Helix Energy Solutions Group, Inc. (HLX), Imperva Inc. (IMPV), Intra-Cellular Therapies, Inc. (ITCI), Nuance Communications, Inc. (NUAN), SunEdison, Inc. (SUNE), TrueCar, Inc. (TRUE), Unit Corporation (UNT), Voltari Corporation (VLTC), and Vuzix Corporation (VUZI).