Yesterday the stock market had a nice rally in the afternoon after the morning dip, and the indices managed to close near the plus column, but it wasn’t a very good day technically. The advance-decline and up/down volume were not good, and so it remains to be seen if the market is tired and still undergoing distribution. The stocks we’re going to look at here certainly don’t look like that.
Novavax, Inc. (NASDAQ:NVAX) is a junior biotech vaccination stock that has been great, particularly in the last few days. After breaking out and pulling back, it has run sharply from 5.82 to 7.43 in the last three sessions. It’s at a key resistance zone at the top of the channel, so it may get a little bit of a pullback/consolidation should it blow through there. The mid-range target is 8 1/2 coming up.
Silver Wheaton Corp. (NYSE:SLW), one of my favorite silver stocks, was up 47 cents to 23.78, or 2%, on 5.9 million shares. It recently broke out, pulled back, and ran up again. There is some initial resistance at 25 3/4. Through that, and it could test the early 2014 high of just under 28.
Smith & Wesson Holding Corporation (NASDAQ:SWHC) came out with a big earnings report on Tuesday, and the whole down-channel was broken as was the base pattern that had developed. The stock surged 16 1/2%, or 1.65, on 9.5 million shares, and reached 12.00, my day-trade target. At this point, we’ll have to see if it gets through 12-12.05, because if it does, it could fill this gap up towards 13-13.25 roughly.
TASER International Inc. (NASDAQ:TASR) looks awesome. This swing trades continues to give. On Tuesday, it was up 1.55 to 26.91, or 6%, on 4.4 million shares. I love the way the 3 1/2 week flag broke out on Tuesday, with a thrust of 4 1/2 million shares. The next target is 32 short-term, and then 35 intermediate-term.