The stock market had a pretty good session on Monday, opening lower, holding support, and going up all day, until the last forty-five minutes to an hour, when they sold off a bit on profit taking. Still, a lot of stocks broke out, so we’re going to look at some of those here.
AirMedia Group Inc (NASDAQ:AMCN) a Chinese stock, had an interesting day on Monday, up 43 cents to 5.51, or 8.5%, on 2 million shares. It broke out with a thrust through a double top. After a 5-wave move and a coil, this stock could get up near 7-7 1/4 short-term. That’s the target. Keep close tabs on this one. It’s interesting.
Gigamon Inc (NYSE:GIMO) a swing trade of ours, is acting great. After it popped on a breakaway gap, it coiled for two and a half weeks, started to move Friday, and popped on Monday, up 1.55 to 32.04, or 5%, on 1.2 million shares. The volume picked up, the best in a couple weeks. The target is 36.
OraSure Technologies Inc (NASDAQ:OSUR) had a big surge on big volume on Monday, on 8.4 million shares. It jumped 1.43, closing at 7.41, or 24%. It'is at resistance. If it extends it could see 8 1/4, but if it doesn’t and pulls back in here, it may set up a beautiful, potential swing trade.
Sorrento Therape (NASDAQ:SRNE) had an inside day, but a positive one. It popped, pulled back, and closed very strongly, up 1.19 to 14.20, or 9%, on 8.7 million shares. If this holds and key support is at Friday’s low at the 12.48-.50 area, it could reach up to 16 1/2-3/4, and maybe as high as 20.
Other stocks on Harry’s Charts of the Day included Achillion Pharmaceuticals Inc (NASDAQ:ACHN), AMAG Pharmaceuticals Inc (NASDAQ:AMAG), Ambarella Inc (NASDAQ:AMBA), A10 Network (NYSE:ATEN), Infoblox Inc (NYSE:BLOX), Ebix Inc (NASDAQ:EBIX), Gilead Sciences Inc. (NASDAQ:GILD), Chanticleer Holdings Inc (NASDAQ:HOTR), Natural Health Trend (NASDAQ:NHTC), NeoPhotonics Corporation (NYSE:NPTN), Opko Health Inc (NYSE:OPK), PlasmaTech Biopharmaceuticals (NASDAQ:PTBI), Solar3D, Inc. (NASDAQ:SLTD), Levy Acquisition (NASDAQ:TACO),Trillium Therapeutics Inc (NASDAQ:TRIL), and Veracyte Inc (NASDAQ:VCYT).