It was really a nice day on Wall Street on Monday. A lot of our stocks did well. The technicals were very good, and it was a decent day.
Genetic Technologies Limited (GENE) finally made the big pop, up 1.24 to 4.94, or 33 1/2%, on 12.6 million shares. That’s the best volume since February. It had a big move with a long pullback that was about a 50% retracement. The important thing about today is that it jumped with a gap through three moving averages, the 10, 21, and 50, closing within a penny of the high for the day. It looks like it may take a run at the 6.65 range, which is the next target. Keep an eye on this one. There is a bit of a gap that comes in around 5.50. That could be your challenge for Tuesday. If it moves through there, it should come in around 6.50. So those are your short-term targets.
Horizon Pharma, Inc. (HZNP) on the accretive acquisition soared on Monday. It closed on Friday at 21.81, ran up to 25.95 on Monday, backed off to 24.55, and then closed at 25.75, up 3.97, or 18.2%, on 13.7 million shares. It held steady after the gap up, and a beautiful move. The top of the channel says it has more to go. Potentially, on a short-term basis, it could see 27, and after it accelerates, even more.
NewLink Genetics Corporation (NLNK) had a beautiful 3-day snapback. It didn’t look good at one point. It held support, zone, and the 50, turned around two days ago, spiked on Friday, and then on Monday, it was right back up near the high at 57.47, about 80 cents away. If it gets through this, the angle of decent will need to change. The long-term channel looks intriguing. Target is 70 plus.
Resatearch Frontiers Inc. (REFR) had a huge move on Monday, up 1.34 to 6.53, or 26%. It had a breakout, then a coil, a falling wedge, a breakaway gap, and huge record volume of 1.5 million shares. The double top-triple top is showing up at the 7.60 range, which is the next target, followed by longer-term resistance at 9.00, which is the secondary target.
Other stocks on Harry’s Charts of the Day included Advaxis, Inc. (ADXS), Capnia, Inc. (CAPN), Cyber-Ark Software Ltd. (CYBR), Genetic Technologies Limited (GENE), Green Plains Renewable Energy, Inc. (GPRE), Juno Therapeutics Inc. (JUNO), Retrophin, Inc. (RTRX), Solar3D, Inc. (SLTD), Unilife Corporation (UNIS).