It was a real good day on Wall Street on Wednesday, and a lot of stocks we follow did great as a trading day. So, let’s go over some stocks that we follow that look good, or are promising and developing nicely.
Amedisys Inc. (AMED) is one of our top stocks for the year. Last year it based, broke out and wedged, and then exploded, came down over a 3-month period, exploded again, ran to the top of the channel, pulled back from the top to the bottom of the channel, forming a big wedge. The hole in the big gap is the key at the 24 range. It started to move up again, and Wednesday it was a big day, up 2.54 to 31.67, or 8.7%, on 674,400 shares traded. That’s the biggest volume on an up-day since October. It’s just a tad above, and closed above, the prior high, which is important in terms of the breakaway move. Right now, the target has to be 39-39 1/2. It’s probably a good swing trade, and may have a swing put on it on Thursday.
Cellectis (CLLS), a fairly new IPO, did extremely well in the last two days. It had an explosive pop, an inside day, and Wednesday was the follow-through day, up 4.54 to 40.99, 3 points from the high, or 12 1/2%, on 1.5 million shares. The momentum here, the base having been completed, could even run up to the mid-to-high 40’s before it pulls back. Looking for another an extension in the next day or so.
NeoPhotonics Corporation (NPTN), a swing trade of ours, is doing great. It popped out, pulled back perfectly, popped and flagged, and on Wednesday, it popped again for the third day in a row, up 44 cents to 8.28, or 5.6%, on 1.3 million shares. Big volume. Targets are 9 3/4 and 11 1/2-12.
Silicon Motion Technology Corp. (SIMO) had a big pop on Wednesday, up 2.66 to 34.38, or 8.4%, on 1.4 million shares. That’s the best volume in a couple months. Breaking out of the wedge is important. The trendline may very well be dictated at the channel top. Short-term it will be taking it up to 36-36 1/4, and then, if it extends to the top of the channel, look for it to run up to the low 40’s.
Other stocks on Harry’s Charts of the Day included Agenus Inc. (AGEN), AirMedia Group Inc. (AMCN), A10 Networks, Inc. (ATEN), Actinium Pharmaceuticals, Inc. (ATNM), Avago Technologies Limited (AVGO), Infoblox Inc. (BLOX), Broadcom Corp. (BRCM), Eagle Pharmaceuticals Inc. (EGRX), Chanticleer Holdings, Inc. (HOTR), Retrophin, Inc. (RTRX), Solar3D, Inc. (SLTD), Straight Path Communications Inc. (STRP), and Tetraphase Pharmaceuticals, Inc. (TTPH).