Cirrus Logic Inc (NASDAQ:CRUS) is looking great and has a powerful-looking chart. It was up 2.18, or 4%, to 56.16, on 1.65 million shares traded on Tuesday. I am going to take out 56.16, because I think it remains in the large rising channel, and I think the angle should look more like a wedge, a breakout, retest of the apex, and it’s going again. Carefully watch this one because at 58, with any kind of energy, you could see 64-5 pretty quickly. It looks very intriguing.
Lantheus Holdings Inc (NASDAQ:LNTH) is not as much biotech as diagnostic and research. It’s such a beautiful chart, even with the pullback from the double top four days in a row. It bounced off the trendline on Monday, and on Tuesday it bounced 40 cents, or 4.6%, to 9.05, on 505,594 shares traded. That’s huge. Watch carefully the double top for 10.25-.30, and after that you’re looking at 12 1/2-13.
Seattle Genetics Inc (NASDAQ:SGEN) is a super star with a fantastic chart. Even though it did pull back with the biotech’s, it had quite a reversal three days ago, and on Tuesday, it was supposed to move to 51.55, but ran 4.04, or 7.8%, to 55.74, on 1.8 million shares traded, closing near the high for the day. That is big volume for that stock, the biggest on an up-day since May. You may be seeing the retest coming up of the highs near 58 short, and then a run to the 62-3 range.
TESARO Inc (NASDAQ:TSRO) may be the best biotech stock in the world right now, up 26 cents, to 121.14, on 836,040 shares traded on Tuesday. After the major news in June and then the run-up, it stair-stepped it’s way higher, and more than doubled at that point, gapping at 68.85 in June, and traded up to the 123.00 range. This stock, after the consolidation, is wedging and looks like it wants to go. The first target is 133-4, and the second is 145-50.
Stocks on the long side included Advaxis Inc (NASDAQ:ADXS), ARIAD Pharmaceuticals Inc (NASDAQ:ARIA), Array BioPharma Inc (NASDAQ:ARRY), Colucid Pharmaceuticals Inc (NASDAQ:CLCD), Exelixis Inc (NASDAQ:EXEL), Lantheus Holdings Inc (NASDAQ:LNTH), Nektar Therapeutics (NASDAQ:NKTR), Seattle Genetics Inc (NASDAQ:SGEN), TESARO Inc, and Valeant Pharmaceuticals International Inc (NYSE:VRX).
In addition, other stocks included Canopy Growth Corp (TO:CGC), Cloud Peak Energy Inc (NYSE:CLD), Cirrus Logic Inc, Clayton Williams Energy Inc (NYSE:CWEI), VelocityShares 3x Inverse Natural Gas (NYSE:DGAZ), First Solar, Inc. (NASDAQ:FSLR), Direxion Daily Junior Gold Miners Bull (NYSE:JNUG), Direxion Daily Gold Miners Bull 3X ETF (NYSE:NUGT), ProShares Ultra VIX Short-Term Futures (NYSE:UVXY), and Vedanta Ltd (NYSE:VEDL).