Array BioPharma Inc. (NASDAQ:ARRY) had a big snapback after getting all the way up into the 13.40 range in Feb, and then it pulled down more than half. Wednesday’s pop with a breakaway gap went right up to the moving average, coiled the rally, and pulled back, closing up 1.41, or 20%, to 8.43, on 17.5 million shares traded. That’s the biggest volume since Sept when it had a big explosive day on drug news. Potentially, we’re going to watch Wednesday’s high at 9.24. If it gets through that, it will be running into the low teens. It has 7.2 days to cover .
Calithera Biosciences, Inc. (NASDAQ:CALA) had a big day on Wednesday, popping 1.95, or 71%, to 13.25, on nearly a million shares traded and breaking out of a two-month bull-coil. It had a good day, good volume, and I’m looking for a test short-term, maybe as early as Thursday, at 14.90, and then 17 and 20 are the targets.
Mimecast Limited (NASDAQ:MIME), a swing trade of ours, is on its way. It broke through the wedge on Wednesday with a breakaway gap, jumping 1.22, or 5%, to 25.22, on nearly a million shares traded. If it can take out 25.37, the near-term targets are 27 and 31.
Mazor Robotics Ltd. (NASDAQ:MZOR) had a big day on Wednesday, reaching as high as 44.00 before pulling back and closing up 2.01, or 5%, to 42.00, on 1.5 million shares traded. It’s been long in the tooth for four days, and it’s five waves up. It may get a little extension to 49-50, but be careful of anything under Wednesday’s 38.53 low. I would stop this one at 38 1/2.
Stocks on the long side included Applied Optoelectronics, Inc. (NASDAQ:AAOI), Abercrombie & Fitch Co. (NYSE:ANF), Array BioPharma Inc. (ARRY), Calithera Biosciences, Inc. (CALA), Crocs, Inc. (NASDAQ:CROX), 3D Systems Corporation (NYSE:DDD), First Solar, Inc. (NASDAQ:FSLR), Impax Laboratories Inc. (NASDAQ:IPXL), KEMET Corporation (NYSE:KEM), Lumber Liquidators Holdings, Inc. (NYSE:LL), Mimecast Limited (NASDAQ:MIME), Mazor Robotics Ltd. (NASDAQ:MZOR), Nektar Therapeutics (NASDAQ:NKTR), Natera, Inc. (NASDAQ:NTRA), Nuance Communications, Inc. (NASDAQ:NUAN), NVIDIA Corporation (NASDAQ:NVDA), Nova Measuring Instruments Ltd. (NASDAQ:NVMI), SolarEdge Technologies, Inc. (NASDAQ:SEDG), Shopify Inc. (NYSE:SHOP), Teladoc, Inc. (NYSE:TDOC), Tellurian Inc. (NASDAQ:TELL), Tronox Limited (NYSE:TROX), and Valeant Pharmaceuticals (NYSE:VRX) International, Inc. (NYSE:VRX).