It was another big day on Wall Street on Tuesday, up nearly 400 on the Dow, and a special day for the NASDAQ 100 and S&P 500. A very strong day indeed. The last surge took out two levels of resistance, so it will be very interesting going forward. For now, let’s take a look at some longs that are doing well.
BioTelemetry, Inc. (NASDAQ:BEAT) is still looking good, and on Tuesday it was up another 51 cents to 16.11, or 3¼%, on a solid 835,900 shares traded. That’s the second biggest volume in a couple weeks. It looks like it wants to blow through resistance level going back to 2013. If it gets through that, look for it to run up to 21½–¾, maybe even mid-to-high 20s.
Dynavax Technologies Corporation (NASDAQ:DVAX) has been consolidating for the last couple months, and on Tuesday it moved up another 1.68 to 29.99, or 6%, on 383,300 shares traded. The volume wasn’t very strong, but the technicals were very good. If it can get through the 31.00 zone, this stock will fly. The targets are 33½ and 38.
FibroGen, Inc. (NASDAQ:FGEN) had a nice day on Tuesday, up 3.07 to 26.24, or 13%, on nearly a million shares. That’s the biggest volume in three weeks and the second biggest volume in three months. It’s pushing through resistance, which comes in at about the 26 range. It should try 27¾, maybe as early as Wednesday. The top of the channel shows that there may be a possible move up toward 30.
Amicus Therapeutics, Inc. (NASDAQ:FOLD) had a nice pop on Tuesday through the declining top line out of what looks like a head-and-shoulder pattern, and may be on its way to short covering, seven days to cover. It was up 1.82 to 17.35, or 12%, on 2.4 million shares. The immediate target will be a test of the highs around 18.80. If it gets through that look for this stock to run up to the 21 zone, and eventually the mid-to-high 20s.
Other stocks on the long side include Akebia Therapeutics, Inc. (NASDAQ:AKBA), Ardelyx, Inc. (NASDAQ:ARDX), Dermira, Inc. (NASDAQ:DERM), Energy Focus, Inc. (NASDAQ:EFOI), Heron Therapeutics, Inc. (NASDAQ:HRTX), Inotek Pharmaceuticals Corporation (NASDAQ:ITEK), JetBlue Airways Corporation (NASDAQ:JBLU), LGI Homes, Inc. (NASDAQ:LGIH), La Jolla Pharmaceutical Co. (NASDAQ:LJPC), Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), Midstates Petroleum Company, Inc. (NYSE:MPO), Ohr Pharmaceutical, Inc. ((NASDAQ:OHRP), Radius Health, Inc. (NASDAQ:RDUS), Recro Pharma, Inc. (NASDAQ:REPH), SunEdison, Inc. (NYSE:SUNE), and Trevena, Inc. (NASDAQ:TRVN).