I was a little surprised at how strong the market was on Monday. It was choppy in the morning, but a lot of stocks we follow did great, and we have quite a few of them here, so let’s take a look at them.
BroadSoft (NASDAQ:BSFT) had a nice day on Monday, up 99 cents to 32.44 on 380,300 shares. That’s the best volume in five days. It had a nice consolidation, and formed a nice little wedge. It looks like it broke out. If it continues upward, the target on this one is 37.00. If it remains so, it’s a swing trade.
DepoMed (NASDAQ:DEPO) is another biotech favorite of ours. Ever since the falling wedge and breakaway gap, it ran up to resistance. The target two days ago was 24 1/2. It backed off, but on Monday it had a reversal, up 70 cents to 24.14, or 3%, on 1.4 million shares. If it continues we could see this at 29.00.
Esperion Therapeutics (NASDAQ:ESPR) had a great day on Monday as it stair-stepped its way higher, up 2.01 to 67.29, or 3%. It’s just coming out of a flag. Obviously, the objective is to take out 70.87, and run up towards 79.80. It has an $80 target on it. This stock would be a great swing trade.
RMG Networks Holding (NASDAQ:RMGN) had a monster day on Monday, having been awarded $2.5 million for a contract, in addition to good quarterly results. This is a stock that, at one time, traded at 21.00, and then came all the way down to under 1.00. It got very, very quiet, and then on Monday, it blew from 1.19 to 1.97, before pulling back to 1.74, up 69 cents, or 65.7%, on 8.9 million shares. If it can get above Monday’s high at 1.97, the target would have to be up around 2.40-.50.
Other stocks on Harry’s Charts of the Day included Advaxis, (NASDAQ:ADXS), Anacor Pharmaceuticals, (NASDAQ:ANAC), Asterias Biotherapeutics,. (AST). Asx Bristol-Myers Squibb (NYSE:BMY), Cempra, (NASDAQ:CEMP), Celladon (NASDAQ:CLDN), Cypress Semiconductor (NASDAQ:CY), Green Plains Renewable Energy, (NASDAQ:GPRE), Infinera (NASDAQ:INFN)), Sucampo Pharmaceuticals, (NASDAQ:SCMP), TG Therapeutics, (NASDAQ:TGTX), Vivint Solar, (NYSE:VSLR), Westport Innovations (NASDAQ:WPRT), Unilife Corporation (NASDAQ:UNIS), and ZIOPHARM Oncology, (NASDAQ:ZIOP).