It was a stronger day on Wall Street on Tuesday, and a good trading day. Many of our stocks did great, and if you take a look at some of the stocks I’m going to show you here, you’ll know what I mean.
Energy Recovery Inc (NASDAQ:ERII) is acting great, up another 1.12, or 7.35%, to 16.35, on 1.5 million shares traded on Tuesday. That’s very good volume for that stock. OBV is moving sharply higher. This looks like a stock that wants to get to the top of the channel. It may get up near the 20-dollar range. That’s my target. Almost 8 days to cover .
Exelixis Inc (NASDAQ:EXEL) is doing excellent. It doesn’t get better than this chart. It has an incredible rising channel. On Tuesday it was up 17 cents, or 1%, to 15.48, on 5.5 million shares traded. This stock has been up for 9 days in a row. It can extend, but it may pull back. I think it has room to move up to 19 1/2. That’s the target for EXEL. It has 4.7 days to cover.
Gigamon Inc (NYSE:GIMO) popped another 2.41, or 4.5%, to 55.672.41, on 1.3 million shares traded on Tuesday. It’s at the top of the channel with five waves up, but I don’t think the fifth wave is long enough. So you may see an extension and it may make it up to 60 very quickly. It has 2 days to cover.
NVIDIA Corporation (NASDAQ:NVDA) is looking great, up 2.20, or 3.4%, to 66.54, on 9.8 million shares traded. Its channel is very similar to that of EXEL. It has gone from the 24 range, up to 66, and is still running. I would not be shocked to see this stock get up to the low to mid 70’s. It has 5.89 days to cover.
Stocks on the long side included Aerie Pharmace (NASDAQ:AERI), Airgain Inc (NASDAQ:AIRG), Bitauto Holdings Limited (NYSE:BITA), Cara Therapeutic (NASDAQ:CARA), Cempra Inc (NASDAQ:CEMP), Eagle Pharm (NASDAQ:EGRX), Energy Recovery, Inc. (ERII), Everbridge Inc (NASDAQ:EVBG), Exelixis, Inc. (EXEL), Gigamon Inc. (GIMO), Juno Therapeutic (NASDAQ:JUNO), Direxion Daily S&P Biotech Bull 3X Shares (NYSE:LABU), Novan Inc (NASDAQ:NOVN), NVIDIA Corporation (NVDA), Impinj Inc (NASDAQ:PI), Twilio Inc (NYSE:TWLO), Twitter Inc (NYSE:TWTR), Weibo Corp (NASDAQ:WB), Xencor Inc (NASDAQ:XNCR), Yelp Inc (NYSE:YELP).