It was a good way to start the month on Thursday as the markets were up at the opening, came down by midday and went to session lows, held support, and then came on nicely to close near the session highs. We’ll see if there’s any follow-through on Friday. There were some stocks that acted interestingly well on Thursday. Let’s take a look at a few of them.
Mobileye N.V. (MBLY) is one of those interesting stocks, up 1.44 to 46.92, or 3%, on 5.4 million shares on Thursday. It went five waves down, the fifth wave made higher lows, a double bottom, and now resistance is in the 48-49 1/2 zone. That is where it looks like it’s going. Maybe as high as 50, with a secondary target of 53-4. It was up three days in a row but the technicals need to improve a little bit. Keep wan eye on this one.
Pacific Biosciences of California, Inc. (PACB) was the star of the day on Thursday, up 1.79 to 5.45, or 49%, on 2.2 million shares. We traded it early on, it kept stair-stepping its way higher, and intraday it had the perfect, parallel channel, until the end of the day when it broke support. The fundamental people are saying this is major for this company. It may be a turn-around for this stock. The major declining topsline was broken and it moved right up to resistance. If it gets through Thursday’s high at 5.91, it should test 6.60 pretty quickly, and it may even get up near the 7.30 range. That’s the near-term target for this stock.
Radius Health, Inc. (RDUS) is acting extremely well, up another 5.26 to 74.57, or 8%, on 1.5 million shares. It has been phenomenal for the last two years. It pulled down in April-May, which resulted in one big move, then another consolidation pulled it back down in Aug, it popped, and just as the market was getting good, it rolled over and retested. This time it had a much higher retest. Resistance is at 75-75 1/4, and it closed just underneath that. If it punches up through there, it may test 80, followed by a test of 83 1/2. Those are the targets on this one.
Sarepta Therapeutics, Inc. (SRPT) had a really good day, up 7.17 to 39.28, or 22%, on 8.55 million shares. OBV was at the high for the year. At this point, it looks like it’s going to retest the highs at 41 1/2, and if it gets through that, look for it to run up to 47, which is the next target.
Other stocks on the long side include Axovant Sciences Ltd. (AXON), Amaya, Inc. (AYA), salesforce.com, inc. (CRM), VelocityShares 3x Inv Natural Gas ETN (DGAZ), Verisk Analytics, Inc. (VRSK).