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ACADIA Pharmaceuticals Inc. (ACAD) made a monster move on Monday on good news and then pulled back. On Tuesday, it was up 2.37, or 6%, to 41.22, on 7.4 million shares. I think it’s going to go higher. I’m looking for 50-51.
Iteris, Inc. (ITI) has a beautiful inverse head-and-shoulders, a base, a breakout, a retest, consolidate, and go. It’s four waves up and I think the fifth one has started. It was up 26 cents, or 5%, to 5.69, or 236,025 shares traded on Tuesday. I think it will go to 6 1/2, 7 1/4, and 8.
Maxar Technologies Inc. (MAXR) had a swing put on it that didn’t work, it came down and retest for six more weeks, and then popped out on Tuesday. It was a big day, jumping 1.35, or 19.2%, to 8.38, on 5.4 million shares. Look for it to test 10. The top of the channel may be tested as well at about 12 and maybe 12 3/4.
Nektar Therapeutics (NKTR), which I love the chart and the company, popped 2.05, or 11 1/2%, to 19.91, on 4.3 million shares on Tuesday. It’s at the bottom of the long-term channel, but it’s telling me that it may have a big move coming up. Halfway into the gap is 24, and then 28 are the targets.
Overstock.com, Inc. (OSTK) is doing well on a big comeback. It’s been up five days in a row, and on Tuesday, it popped another 1.85, or 9.5%, to 21.32, on 5.7 million shares. The volume was the best in two weeks. I think it’s immediately going to test the zone in the 22 3/4-23 1/2 area. If it gets through that, I expect it to get to 26-27.
Sientra, Inc. (SIEN) looks like it’s ready for a reversal day, perhaps. On Tuesday, it advanced 46 cents, or 7%, to 7.08, on 1 million shares. If this can get through 7.33-.35, then 8 1/2 and 10 are the targets.
Stocks on the long side included ACADIA Pharmaceuticals Inc. (ACAD), Akebia Therapeutics, Inc. (AKBA), AMAG Pharmaceuticals, Inc. (AMAG), Endo International plc (ENDP), Francesca's Holdings Corporation (FRAN), G1 Therapeutics, Inc. (GTHX), At Home Group Inc. (HOME), Iteris, Inc. (ITI), LSB Industries, Inc. (LXU), Maxar Technologies Inc. (MAXR), Mesoblast Limited (MESO), The Michaels Companies, Inc. (MIK), Mallinckrodt Public Limited Company (MNK), Nektar Therapeutics (NKTR), Owens & Minor, Inc. (OMI), Orion Group Holdings, Inc. (ORN), Overstock.com, Inc. (OSTK), Puma Biotechnology, Inc. (PBYI), Pier 1 Imports, Inc. (PIR), Pieris Pharmaceuticals, Inc. (PIRS), Sientra, Inc. (SIEN), and Tenneco Inc. (TEN).