The stock market had a very good start to the week on Tuesday, reaching new highs in the S&P 500 in the transportation sector, and the technicals are showing well. So the market can’t get too bearish just yet.
Bitauto Holdings Limited (BITA) jumped 2.07, or 5%, on nearly 1 million shares on Tuesday. Looking for a move that test the 47-dollar range, and beyond that 52.
Isis Pharmaceuticals, Inc. (ISIS) is an example of a turn-around, particularly on some of the biotech stocks. On Tuesday, it was up 2.56, or 9.2%, on 5.2 million shares. The declining topsline was pierced, it gapped, had a breakaway above it, and as the moving average started to flatten out, it moved up, and may very well see a test of 50-day at 33.68, which is the next target.
Merrimack Pharmaceuticals, Inc. (MACK), after the big top and breakaway gap a few weeks ago, it coiled very tightly and quietly, and suddenly picked up. It’s been up four days in a row, and on Tuesday, it took out the May 1st 7.65 line, up 48 cents, or 6.38%, on 2.6 million shares, closing at 8.00. It’s a beautiful chart. Looking for something around 11ish.
Rite Aid Corporation (RAD) followed through on Tuesday, up 15 cents, or 1.85%, on 23 million shares, and closed at 8.27. It looks like it’s going to see 8 3/4 next.
Other stocks on Harry’s Charts of the Day are Amkor Technology, Inc. (AMKR), Arris Enterprises, Inc. (ARRS), Arotech Corporation (ARTX), BioCryst Pharmaceuticals, Inc. (BCRX), Cavium, Inc. (CAVM), China XD Plastics Company Ltd. (CXDC), Dyax Corp. (DYAX), FireEye, Inc. (FEYE), Horizon Pharma, Inc. (HZNP), Momenta Pharmaceuticals Inc. (MNTA), Maxwell Technologies, Inc. (MXWL), NewLead Holdings Limited (NEWL), Ophthotech Corporation (OPHT), Pernix Therapeutics Holdings, Inc. (PTX), Rackspace Hosting, Inc. (RAX), RadNet, Inc. (RDNT), SuperCom Ltd. (SPCB), Spherix Incorporated (SPEX), and TriQuint Semiconductor, Inc. (TQNT).