The stock market is still in a weak mode, but based on the technicals from Wednesday, which were not from the downside, and not pressing the oscillators much lower, that we may be on the throes of a snapback move. We just don’t have a feel for where the bottom is yet. I will say, the market completed 5-waves. A lot of individual stocks are still acting well. Let’s take a look at some of them.
Celldex Therapeutics, (NASDAQ:CLDX), with a nice little pop off the 3-day pullback, was up 1.04 to 29.45, or 3.6%, on 21 million shares on Wednesday. The volume increased a little bit, the best in four days. Let’s see if it will get some extension on this. There’s resistance at 31, the target is at 34ish, and then 39. With this kind of pattern, a lot can happen. Stay tuned.
Impax Laboratories (NASDAQ:IPXL) was up 3.77 to 42.23, or 9.8%, on 12.6 million shares on Wednesday. It popped across the February highs to all-time highs. The long-term channel calls for a move up to 45.
MOBILEYE N.V. (NYSE:MBLY) is doing great. The swing trade is working, and for 7 days this stock has been up, including the breakaway move over the moving averages, and on Tuesday, it moved over the declining topsline and lateral price resistance as well as the 50-day moving averages. On Wednesday, it was up 1.22 to 40.10, or 3%, on 5.7 million shares. I’m looking for a test of the 42.40 area, followed by the 46 1/4-1/2 area.
SunEdison, (NYSE:SUNE) popped 1.03 to 23.20, or 4.65%, on 11.7 million shares on Wednesday. Good volume. It’s up against resistance, and is trying to break out. It’s at a very, very key level. If it gets though this, you’ll see dramatic movement, perhaps as high as 28-29.
Other stocks on Harry’s Charts of the Day included Advaxis, (NASDAQ:ADXS), Agenus (NASDAQ:AGEN), Ampio Pharmaceuticals, (AMEX:AMPE), Capnia, (NASDAQ:CAPN), Covenant Transportation (NASDAQ:CVTI), Amicus Therapeutics, (NASDAQ:FOLD), Globalstar (AMEX:GSAT), Horizon Pharma,(NASDAQ:HZNP), iBio, (AMEX:IBIO), Ocular Therapeutix, (NASDAQ:OCUL), Supernus Pharmaceuticals, (NASDAQ:SUPN), and Solazyme (NASDAQ:SZYM).