CASI, CCJ, IMMU, MRTX — Stock Charts to Watch

CASI Pharmaceuticals, Inc. (CASI) is doing well. On Tuesday, it popped 48 cents, or 7.21%, to 7.14, on 769,650 shares traded. The volume picked up a little bit and it may be beginning to move out of here. The target going forward is 10.

Cameco Corporation (CCJ), a uranium company, formed a left shoulder-head-right shoulder, and is right at the neckline. It spiked 62 cents, or 6%, to 11.15, on 5.5 million shares on Tuesday. I’m looking at the 12 1/2-13 1/2 zone. If it gets through that, on a longer-term basis where you might see this stock make a bigger move up towards key-key resistance could be tested at some point. That comes in around 17 1/2-18. So, my targets on this stock are 13 1/2 and 17 1/2.

Immunomedics, Inc. (IMMU) has a beautiful long-term chart, rising parallel channel, and long consolidation. It looks like the 19.04 area was taken out with another 83 cents, or 4.56%, on 1.9 million shares on Tuesday. At this point, I’m looking for 23 and 25 as the next targets on IMMU.

Mirati Therapeutics, Inc. (MRTX), a swing trade that we put in September, continues to improve. The last 3-4 months it’s been consolidating nicely. It looks like it may have come through the declining topsline, consolidated, and is moving back up again. On Tuesday, it jumped 1.85, or 6%, to 32.65, on 346,462 shares traded. Going forward I am looking at 33 1/2, a retest of 37, and then low 40’s.

Stocks on the long side included CASI Pharmaceuticals, Inc. (CASI), Cameco Corporation (CCJ), The GEO Group, Inc. (GEO), Heron Therapeutics, Inc. (HRTX), Heat Biologics, Inc. (HTBX), Immunomedics, Inc. (IMMU), Kirkland Lake Gold Ltd. (KL), Mirati Therapeutics, Inc. (MRTX), MagnaChip Semiconductor Corporation (MX), Tenet Healthcare Corporation (THC), and Travelzoo (TZOO).

On the short side, stocks included Alnylam Pharmaceuticals, Inc. (ALNY), Belden Inc. (BDC), Bitauto Holdings Limited (BITA), National Beverage Corp. (FIZZ), Lumber Liquidators Holdings, Inc. (LL), Mazor Robotics Ltd. (MZOR), Prestige Brands Holdings, Inc. (PBH), Sun Hydraulics Corporation (SNHY), and Wayfair Inc. (W).