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Atara Biotherapeutics, Inc. (ATRA) has a long declining topsline going back more than a year and a half, and lateral price resistance as well. It also has what looks like the potentiality of a rising channel, which is in play now. Three days in a row this stock has popped, going from 12.00 to Wednesday’s high at 14.92, and closed up 1.37, or 10%, to 14.83, on nearly a million shares traded. The OBV is making new highs for the year. I had a price and that’s positive divergence. I’m now looking for 17 1/2-18, which is the next target.
InMode Ltd. (INMD), one of our old swings, moved up on Wednesday, and then back off, but gained 1.78, or 5.55%, to 33.85, with a session high of 35.08, on 438,937 shares traded. The volume needs to get better and it needs to get over 36.35 at the resistance level. If it does, we could see 40-41.
Intra-Cellular Therapies, Inc. (ITCI) had a fantastic, explosive day on big drug news on Wednesday, literally opening at 31.15, ran to 33.74, and backed off with a gain of 13.43, or 73%, closing at 31.86, on 43.5 million shares traded. It looks like this stock is going to start edging back up into the high 30’s, low 40’s even.
SmileDirectClub, Inc. (SDC) popped out of a base pattern a couple days ago and pulled back, reversed on Tuesday, and on an engulfing reversal bar it followed through on Wednesday, popping 70 cents, or 6.6%, to 11.27, with a session high of 11.44, on 11.7 million shares traded. There’s a little bit of resistance at about 12, and the target is 15.
Trillium Therapeutics Inc. (TRIL) on Wednesday exploded 4.13, or 44%, to 13.59, with a session high of 14.14, on 33.6 million shares traded. After hours it did a secondary, but came right back, dropped, and then settled in. With this kind of volume, we might see this stock move into the high teens.
On the long side, stocks included Atara Biotherapeutics, Inc. (ATRA), BiondVax Pharmaceuticals Ltd. (BVXV), DraftKings Inc. (DKNG), DiamondPeak Holdings Corp. (DPHC), Datasea Inc. (DTSS), Forum Merger II Corporation (FMCI), Graf Industrial Corp. (GRAF), InMode Ltd. (INMD), Intra-Cellular Therapies, Inc. (ITCI), Landcadia Holdings II, Inc. (LCA), NIO Inc. (NIO), Nautilus, Inc. (NLS), Nano-X Imaging Ltd. (NNOX), Catasys, Inc. (OTRK), Pacific Ethanol, Inc. (PEIX), Peloton Interactive, Inc. (PTON), Renewable Energy Group, Inc. (REGI), SmileDirectClub, Inc. (SDC), Trillium Therapeutics Inc. (TRIL) and Workhorse Group Inc. (WKHS).