It was an interesting day on Tuesday, down at the open, and then back up again, closing mixed, but there are a lot of stocks that we follow that did well, and some trading opportunities.
Bonanza Creek Energy, Inc. (N:BCEI) has a very nice pattern, an inverse head-and-shoulder, a breakout, a wedge, and then a another breakout on Tuesday, up 94 cents to 8.52, or 12.4%, on 3.5 million shares. It looks like it is going to test the 10-10.20 zone short-term, and when it gets through that, the target is 13.
ConocoPhillips (N:COP) is doing very well. It had a swing put on it, it pulled back, bounced, formed a double-top, pulled back again, formed a double bottom, it turned when it held and so did the 50. On Tuesday, it popped out of a wedge, jumping 2.04 to 55.32, or 3.8%, on 8.2 million shares. It has 3 1/2 days to cover. Look for it to test and take out 57 1/4. Once it does that the target is 60.
Intra-Cellular Therapies, Inc. (O:ITCI), one of our favorite biotech’s right now, had an explosive move on positive news, then a 50% retrace to test support, and it is now moving up steadily in a rising channel. If it gets to the top of the channel to 62-63, that would challenge recent highs at 60.79. Tuesday’s high was 57.74, so it’s not too far away from the target.
Neogenomics Inc. (O:NEO), one of our swing trades, looks like it may finally be emerging. On Tuesday, it popped 18 cents to 8.30, or 2.27%, on 475,400 shares traded. It’s challenging its high near the 8.20 level, and if gets through that, it could see 9, and then 9 3/4.
Other stocks on the long side include Abercrombie & Fitch Co. (N:ANF), Callon Petroleum Company (N:CPE), Constellium N.V (N:CSTM), Helix Energy Solutions Group, Inc. (N:HLX), Imperva Inc. (N:IMPV), Intra-Cellular Therapies, Inc. (O:ITCI), Nuance Communications, Inc. (O:NUAN), SunEdison, Inc. (N:SUNE), TrueCar, Inc. (O:TRUE), Unit Corporation (N:UNT), Voltari Corporation (O:VLTC), and Vuzix Corporation (O:VUZI).