It was turn-around Tuesday on Wall Street. A lot of the stocks we follow and/or traded the last few sessions did well on Tuesday. Let’s take a look at a few new ones as well.
Amgen Inc. (NASDAQ:AMGN) had a fantastic day on Tuesday, up 7.20 to 172.74, or 4%, on 8.5 million shares. It has been in a very long consolidation. Since Dec, it has made five attempts at getting through the highs at 174.00. If it is able to get through 174.00, and Tuesday’s high was 174.80, a nominal new high, it may very well extend. It could quite possibly take AMGN up near the 200-210 zone. That’s the next target for swing trade on AMGN.
Fitbit Inc. (NYSE:FIT), a recent IPO, was up 1.54 to 45.47, or 3.5%, on 3.7 million shares on Tuesday. Initially, this stock did very well, and ran up sharply to the top of the channel, and then pulled back. After a 3-wave, corrective pullback, it tested support, and bounced nicely. It ran up above the moving averages on the 50-minute chart and looked like it was going to have a blowout move, and it still may. Once it hits 47.00, it could be off to the races. The next target is 55.
Flamel Technologies SA (NASDAQ:FLML), a stock that we’ve been following for a while, and formerly a swing trade of ours, was up 1.13 to 25.69, or 4.6%, on average volume, on Tuesday. It’s looking very good, has a nice rising channel, moved across major resistance, flagged, and extended. Look for it to eventually get to as high as 36. The short-term target is 28.
Novavax, Inc. (NASDAQ:NVAX), a swing trade of ours, is acting well, up 57 cents to 12.20, or 5%, on 3.3 million shares on Tuesday, and is on the border of a breakout. It had a breakout in June, ran up, flagged, ran up again, flagged, pulled back, and in the last couple days it has been a little bit more difficult, but a lot of biotechs were, and on Tuesday, it had a nice snapback off an internal trendline. If that is the case, look for this to make it up to 14, and then 16 1/2.
Other stocks on Harry’s Charts of the Day included BioTelemetry, Inc. (NASDAQ:BEAT), Cadence Design Systems Inc. (NASDAQ:CDNS), Cellcom Israel Ltd. (NYSE:CEL), Fibrocell Science, Inc. (NASDAQ:FCSC), Amicus Therapeutics, Inc. (NASDAQ:FOLD), Intra-Cellular Therapies, Inc. (NASDAQ:ITCI), Inotek Pharmaceuticals Corporation (NASDAQ:ITEK, NewLink Genetics Corporation (NASDAQ:NLNK), NeoPhotonics Corporation (NYSE:NPTN), POZEN Inc. (NASDAQ:POZN), Prothena Corporation plc (NASDAQ:PRTA), Sucampo Pharmaceuticals, Inc. (NASDAQ:SCMP), Solar3D, Inc. (NASDAQ:SLTD), Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN), and Intrexon Corporation (NYSE:XON).