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4 Stocks: ACAD, I, IDRA, VKTX

By Harry BoxerStock MarketsOct 17, 2018 12:14AM ET
www.investing.com/analysis/acad-i-idra-vktx-200348777
4 Stocks: ACAD, I, IDRA, VKTX
By Harry Boxer   |  Oct 17, 2018 12:14AM ET
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ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), which I put out as a swing on Tuesday, because this stock has been very toppy. A longer-term pattern shows a big run-up that took this from under a dollar in 2010-11, all the way up to over 50 in 2015. After a massive, multi-year top, it came down, broke support to below 12, and snapped back sharply. The current pattern shows that the declining topsline and channel were taken out with a super surge, it consolidated for about 2 1/2 weeks, and on Tuesday it popped 1.64, or 7.7%, to 22.92, on 3.7 million shares. With the increase in volume at 3.7 million shares, and the OBV holding up steadily, it’s slightly moving up. I think it may start to accelerate. Minor resistance is at the 26-28 zone, which is my target zone. Once it gets through there, I’m looking at 32 and 33.

Intelsat S.A. (NYSE:I) is a monster stock. Ever since we first spotted it running in the 3-4 range, it’s now at 36 plus. On Tuesday, it was up a whopping 4.14, or 13%, to 36.58, on 5.4 million shares. It broke out of the pattern it was in, and I’m looking for an extension that takes it to 42.

Idera Pharmaceuticals, Inc. (NASDAQ:IDRA) gained 68 cents, or 8.44%, to 8.74, on 226,651 shares traded. The swing trade we put on it around 6.19-.20, ran up, pulled back, popped, and formed a large wedge. It looks like waves one and two are completed and wave three should take it to 12 1/2-13, which is my next target.

Viking Therapeutics, Inc. (NASDAQ:VKTX), which had a big explosive move and pullback, kept drifting lower. On Tuesday, I believe, it popped out, advancing 1.06, or 7.46%, to 15.26, on 3.9 million shares, closing at the upper end of the range. But the volume wasn’t heavy enough. I want to see volume that is in the 6, 7, 10 million range. There’s resistance around 16 3/4. That will be my next target, if it follows through. If it does, I’m looking for 16 3/4 and 18 1/4 going forward.

Stocks on the long side included ACADIA Pharmaceuticals Inc. (ACAD), Aldeyra ACAD, AMRN, I, IDRA, Viking Therapeutics, Inc. (VKTX) Therapeutics, Inc. (NASDAQ:ALDX), Amarin Corporation plc (NASDAQ:AMRN), Blink Charging Co. (NASDAQ:BLNK), Boston Scientific Corporation (NYSE:BSX), CareDx, Inc (NASDAQ:CDNA), Cerus Corporation (NASDAQ:CERS), CryoLife, Inc. (NYSE:CRY), FireEye, Inc. (NASDAQ:FEYE), Guardant Health, Inc. (NASDAQ:GH), GOL Linhas Aéreas Inteligentes S.A. (NYSE:GOL), Intelsat S.A. (I), Idera Pharmaceuticals, Inc. (IDRA), Direxion Daily S&P Biotech Bull 3X ETF (NYSE:LABU), Noodles & Company (NASDAQ:NDLS), NIO Inc. (NYSE:NIO), PagSeguro Digital Ltd. (NYSE:PAGS), Tesaro, Inc. (NASDAQ:TSRO), and Viking Therapeutics, Inc. (NASDAQ:VKTX).

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4 Stocks: ACAD, I, IDRA, VKTX
 

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4 Stocks: ACAD, I, IDRA, VKTX

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Comments (2)
Charlie Prewett
Charlie Prewett Feb 13, 2019 7:26AM ET
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looking for the next monster stock like I. Any lie that? wow!
Charlie Prewett
Charlie Prewett Feb 13, 2019 7:26AM ET
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Any Like that? (no editing messages!)
Berk Bozkir
Berk Bozkir Dec 22, 2018 2:44PM ET
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How do you know that? And where did you get those information and did u check to last 7 years charts?
 
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