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EXAS, NKTR, OLED, XNCR — Stock Charts to WatchRSS

Charts of the Day video for Monday August 1st, 2016

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It was kind of a rough day on Wall Street on Monday. Nasdaq had a good day, but the Blue Chips did not. As a result, it was a mixed picture. A lot of stocks we follow did well.

Exact Sciences Corporation (EXAS) hit the top of the channel on Monday and backed off, up 73 cents to 18.11, or 4.2%, on 7.3 million shares. The volume is lower than it has been, but the OBV keeps pushing up. I’m looking for 22 as the target on this stock, and I think we’re going to get there. It has 3.75 days to cover.

Nektar Therapeutics (NKTR) is acting great. The wedge broke, and it’s been up three days in a row. Strongly so. It closed up 47 cents to 17.76, or 2.7%, on 1.9 million shares on Monday. I’m expecting more upside now that it’s broken through the double top. I would not be shocked to see this make a run to 20, and then 23. There’s 11.9 days to cover.

Universal Display Corp. (OLED), a swing trade of ours, continues to push another little pop out of a mini wedge, jumping 2.98 to 73.82, or 4.2%, on nearly million shares. With 5.2 days to cover I expect this one to head up to the 83-85 range. 5.22 days to cover.

Swing trade, Xencor, Inc. (XNCR) looks like it’s beginning to work. It popped out of a coil on Monday, up 41 cents to 19.35, or 375,213 shares traded on Monday. All it needs is a run through the 19 1/4 range. Maybe it will get there on Tuesday. Target going forward is 22. I like the way it’s looking. It has 5.3 days to cover.

Stocks on the long side included First Majestic Silver Corp. (AG), Array BioPharma Inc. (ARRY), Accelerate Diagnostics, Inc. (AXDX), VelocityShares 3x Inverse Crude Oil ETN (DWTI), ProShares UltraShort Bloomberg Crude Oil (SCO), Etsy, Inc. (ETSY), Exact Sciences Corporation (EXAS), Market Vectors Gold Miners ETF (GDX), Inovio Pharmaceuticals, Inc. (INO), Innoviva, Inc. (INVA), Direxion Daily S&P Biotech Bull 3X ETF (LABU), LeMaitre Vascular, Inc. (LMAT), MeetMe Inc. (MEET), Nektar Therapeutics (NKTR), Universal Display Corp. (OLED), ORBCOMM, Inc. (ORBC), Silver Wheaton Corp. (SLW), Weibo Corporation (WB), Xencor, Inc. (XNCR), and Yirendai Ltd. (YRD).

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