The markets had a difficult day on Wednesday, stabilized midday, but towards the end of the day they pulled back, and managed to pare back some of the losses. It was a sloppy day to say the least. The stocks that we follow still did well, so let’s take a look at the patterns we are playing.
Advaxis, Inc. (ADXS) has been up five days in a row now. The last couple days it has taken out the 14 1/2 area, reaching 15.55 on Wednesday, closing at 15.49, up 1.05, or 7 1/4%, on 2.4 million shares. That’s the biggest volume in a few days. If it’s going to get going, now is the time. The target is 18 1/2-3/4 in the next move up.
Capnia, Inc. (CAPN) looks like it’s bubbling under. It’s been consolidating for four weeks as technicals actually improved. OBV is the highest it’s been since 9.90 in early March. It was up 59 cents to 6.99, or 9%, on 1 million shares on Wednesday. Look for it to get across the 6.99 level, and run up to do a quick test of 9.90. Beyond that, look for it to get up to 12-13.
Green Plains Renewable Energy, Inc. (GPRE) is one of our swing trades that is working for us. It formed a left shoulder-head-right shoulder breakout, a flag or pennant, held moving average and price support, and then broke out on Wednesday, up 1.14 to 29.69, or 4%, on 1.3 million shares. It’s right at the prior high at 30.20. Wednesday’s high was 30.18. If it can get up through here, look for 37ish.
SunEdison, Inc. (SUNE) popped 1.10 to 25.10, or 4.58%, on 14.8 million shares as it’s doing deals with TerraForm Power, Inc. (TERP) to form a subsidiary. The pattern is now above the 24 1/4-25 range, which was the high in the summer of 2014. In the last few months this stock has moved from a double-bottom around 17.25 to Wednesday’s high of 25.19. It looks like there will be more upside to 27, and then 31.
Other stocks on Harry’s Charts of the Day included Eagle Pharmaceuticals Inc. (EGRX), Esperion Therapeutics, Inc. (ESPR), Great Basin Scientific, Inc. (GBSN), Green Plains Renewable Energy, Inc. (GPRE), Rigel Pharmaceuticals, Inc. (RIGL), Solar3D, Inc. (SLTD), SunEdison, Inc. (SUNE), Supernus Pharmaceuticals, Inc. (SUPN), TerraForm Power, Inc. (TERP), Trillium Therapeutics Inc. (TRIL), and TherapeuticsMD, Inc. (TXMD).