The markets had a big day on Tuesday. They gapped, ran, and had a really strong session until the last hour when profit taking set in, but it was a strong close. Most stocks we follow did well, and some new ones popped up, so let’s take a look at the ones we were trading today.
Achillion Pharmaceuticals Inc (O:ACHN) had a swing was put on it on Tuesday. This stock was a big winner for us after being down for almost a year. By Oct it finished its low, ran up from the 6 1/2 range all the way up to about 10 1/2, and then consolidated, pulled back, tested the 50, formed a new rising channel bottom, consolidated, and is moving up. On Tuesday it was up 37 cents to 10.42, or 3.68%, on 1.4 million shares. It’s right up against resistance, looks like it wants to explode, and has a shot at taking out the 11-11.10 range near-term. When it gets through that level, it could head up toward 12 3/4 potentially. It has 8 3/4 days to cover.
LeMaitre Vascular Inc (O:LMAT) is on our Top 20 list for 2016, and continues to look great. The rising wedge was broken to the upside on Tuesday, up 1.08 to 17.77, or 6.5%, on 2.3 million shares. The volume wasn’t so good, but the OBV is looking great. Look for a move to 20 on this stock.
Neurocrine Biosciences Inc (O:NBIX) has been great all year. A swing was put on it in the high 30’s, and it ran up to 50 1/2. It tested the 50-dollar range four times, and in the last couple sessions it’s moved up. On Tuesday, it popped 3.48 to 56.49, or 6.6%, on a solid 6.8 million shares. That’s good volume for that stock. Watch the 58 1/2 level. If it can get through that, this stock could move substantially, maybe even to the low 70’s. It has 6 3/4 days to cover.
Vuzix Corp Cmn Stk (O:VUZI) has been doing great, particularly Tuesday when it popped 60 cents to 7.19, or 9%, on 535,800 shares traded. That’s the biggest volume since Jan. It's coming up towards the double top at the 7.40-.60 zone. If it gets through there, it could run to 8.00, and then 9-9 1/2. Those are the targets for VUZI. It’s looking good, with 7 days to cover.
Other stocks on the long side included Actinium Pharmaceuticals Inc (N:ATNM), Auris Medical Holding AG (O:EARS), Exelixis Inc (O:EXEL), Five9 Inc (O:FIVN), FXCM Inc (N:FXCM), Lattice Semiconductor Corporation (O:LSCC), NVIDIA Corporation (O:NVDA), ORBCOMM Inc (O:ORBC), Resource America Inc (O:REXI), and Vital Thera (O:VTL).