AXT Inc (NASDAQ:AXTI) is doing very well moving up the ranks. Over the course of the last couple weeks this stock has done very well. It’s in a rising channel, and pulled back slightly, but, for me, Thursday was a breakout day, popping 35 cents, or 4.8%, to 7.60, on 836,765 shares traded. There is some resistance where the snapback high and another high came in. That may be a difficult takeout at the 7.85-.95 zone. That’s my immediate target. If it gets through that, I’m looking at 8 1/4-3/4 at the old high. More importantly, look at the long-term chart. It’s a beautiful chart and has been spinning, or consolidating all year so far, coming down, popping up, and coming down again. For me, once it reaches my target, it’s free sailing to 10 and then 12. It has 3.8 days to cover .
Century Aluminum Co. (NASDAQ:CENX) had a very nice recovery. I was really worried about the pullback. Look how it held around the 50, and near the bottom trendline, not far from the major trendline. Coming off that, bouncing and forming a flag, it broke out. On Thursday, it was up another 66 cents, or 3.7%, to 18.34, on 2.7 million shares traded, with 5.8 days to cover short. As the next targets, I’m looking at 20 and 24.
The Direxion Daily S&P Biotech Bull 3X ETF (NYSE:LABU) broke out, pulled back, formed a nice little flag, or wedge, it had a nice volume day, and then stalled right at resistance. For about two weeks it couldn’t get through resistance. On Thursday, it did break out, and jumped 2.64, or 3.9%, to 70.05, on 2.2 million shares traded. We’ll be watching 73.00-73.07 on Friday, and if it gets through that, it’s headed toward 80.00. Biotech’s may be on the verge of a big move.
MagnaChip Semiconductor Corporation (NYSE:MX) is one of our favorites. After holding near support, it popped on Thursday, advancing 35 cents, or 3%, to 11.35, on 452,103 shares traded. It will probably need to get to 11.60-.65, and run toward 13.00 and 15.00, which are my next targets.
On the long side, stocks included AbbVie Inc. (NYSE:ABBV), ADTRAN, Inc. (NASDAQ:ADTN), AXT Inc. (AXTI), Century Aluminum Co. (NASDAQ:CENX), Datawatch Corporation (NASDAQ:DWCH), Esperion Therapeutics, Inc. (NASDAQ:ESPR), Blackhawk Network Holdings, Inc. (NASDAQ:HAWK), Kite Pharma, Inc. (NASDAQ:KITE), Direxion Daily S&P Biotech Bull 3X ETF (NYSE:LABU), Seres Therapeutics, Inc. (NASDAQ:MCRB), Kopin Corporation (NASDAQ:KOPN), Seres Therapeutics, Inc. (NASDAQ:MCRB), MagnaChip Semiconductor Corporation (NYSE:MX), Nektar Therapeutics (NASDAQ:NKTR), Impinj, Inc. (NASDAQ:PI), Sarepta Therapeutics, Inc. (NASDAQ:SRPT), and Zion Oil & Gas, Inc. (NASDAQ:ZN).