It was a good day for Wall Street on Wednesday. Many of our trades did well. Let’s take a look at some longs here and see how they’re doing.
Advaxis, Inc. (NASDAQ:ADXS) had a good day on Wednesday and a nice follow-through to the swing trade. It went across the topsline, moved through the moving average, and exploded. It had a nice pop on Tuesday, going all the way up through 20.22 and backed off to 18.32 — so a nice 2¼-point pullback. It closed up 18 cents to 19.63, on nearly two million shares. A positive inside day. It looks like it wants to go higher. Look for a run up to 21-21¾ range, eventually 25. Those are the targets going forward.
Exelixis, Inc. (NASDAQ:EXEL) was put out as a swing trade. I like the way it’s looking, up 4.06 to 37.10, or 12.3, on 10.1 million shares on Wednesday. It appears to me that the left-shoulder-head-right-shoulder is a result of the stress that’s going to take it to 8.00-9.00 eventually.
Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) made a monster move on Wednesday, up a whopping 22.68 to 48.79, or 86.86%, on 13.7 million shares. This was a major breakout on positive drug news — potentially a game changer. Look for this stock to consolidate and edge a little For sure, Wednesday’s low at 42 will be support. Target is in the mid 50s.
Vera Bradley, Inc. (NASDAQ:VRA), one of our swing trades, after the big pop pulled back in a nice, orderly wedge on low volume, popped 55 cents to 13.74, or 4%, on 457,500 shares traded. The volume was not as big as I would like to have seen it. Technicals look good. It feels like it could retest 14½. The target is 16½.
Other stocks on the long side include Aceto Corp. (NASDAQ:ACET), Aerie Pharmaceuticals, Inc. (NASDAQ:AERI), Arrowhead Research Corp. (NASDAQ:ARWR), Activision Blizzard, Inc. (NASDAQ:ATVI), Collegium Pharmaceutical, Inc. (NASDAQ:COLL), Encana Corporation (NYSE:ECA), Exelixis, Inc. (NASDAQ:EXEL), Fitbit Inc. (NYSE:FIT), Weight Watchers International, Inc. (NYSE:WTW).