It was a difficult day on Wall Street on Tuesday. First they were down, and back up, and then they rolled over and closed very, very badly at the lows going away. It’s not done yet. A lot of the biotech stocks we follow are doing well, but some are showing some weakness. However, I am going to show you some that have done very well and others that may be emerging.
Calithera Biosciences Inc (NASDAQ:CALA) was up 59 cents to 13.61, or 4.5%, on 1.1 million shares. This stock has come from 12 1/2 up to 22 just in the last week. So, let’s see if it comes down and consolidates. I’m looking for a follow-through that gets it up near 25, which is the next target.
Ovascience Inc (NASDAQ:OVAS) had a major breakout on Tuesday, up 5.81 to 53.46, or 12%, on nearly 2 million shares. The consolidation the last two weeks has taken out two lines of support and taken it to new highs. Look for a run to midrange at 70.
Prothena Corporation plc (NASDAQ:PRTA) looked good on Tuesday, up to 1.61 to 39.34, or 4.3%, on 21 million shares. After popping sharply and pulling back on Monday, on Tuesday, it popped a little bit and backed off again. It may be forming a wedge. It has a big base, breakout, flag, another breakout, and then this consolidation. Let’s see how long this lasts, but eventually, I think it’s going to head up towards 45, and then 50.
Vimicro International Corporation (NASDAQ:VIMC) had a fairly good day, up 57 cents to 9.33, or 4.5 million shares, on 422,900 shares traded. Based on the overall structure of the pattern and the length of the consolidation, it appears that it may want to make a move. If it gets across the 10.30 range, ir could see 11 3/4-12 pretty quickly, and then they’re off to the races.
Other stocks on Harry’s Charts of the Day included ABIOMED Inc (NASDAQ:ABMD), Coronado Biosciences Inc (NASDAQ:CNDO),Diplomat Pharmacy (NYSE:DPLO), First Solar, Inc. (NASDAQ:FSLR), Intracellular Th (NASDAQ:ITCI), Jumei International Holding Ltd (NYSE:JMEI), MiMedx Group Inc (NASDAQ:MDXG), NewLink Genetics Corporation (NASDAQ:NLNK), Oramed Pharmaceuticals Inc (NASDAQ:ORMP) , OvaScience, Inc., Pfenex Inc. (PFNX), and Rally Softwr Dev (NYSE:RALY).