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Stocks; In Focus: Majesco, Corcept Therapeutics, MiMedx And Supernus

Published 08/17/2017, 12:02 AM
Updated 07/09/2023, 06:31 AM

Majesco Entertainment Company (COOL), which I put a swing at 23.81 on Wednesday, and within an hour, this stock went to 27.53, and then pulled back. It closed up 1.28, or 5.4%, to 24.95, on 227,146 shares traded. To me, it’s four waves up, and the fifth wave could take it to 40-45-55. Once it gets through 30, look for it to go to 34, and higher. It has four days to cover short.

Swing trade Corcept Therapeutics Incorporated (NASDAQ:CORT) continues to act well. It broke out and I gave you the swing trade, I believe, in July, it pulled back, and then on Wednesday, it popped 50 cents, or 3.36%, to 15.37, on 1.7 million shares traded. You can see that it’s extending. My near-term target is 16, and the secondary target is 18 1/2-19.

MiMedx Group Inc (NASDAQ:MDXG) does have a swing that is working. In particular, it broke out on Monday, then followed through, pulled back, and then popped only 19 cents, or 1.14%, to 16.93, on 2.65 million shares traded, but it looks like it’s headed to more upside to 19 short-term, and on a longer-term basis 24-25.

Supernus Pharmaceuticals Inc (NASDAQ:SUPN) has been a monster all year and continues to push it. On Wednesday, it jumped another 1.35, or 3%, to 45.65, on 1.1 million shares traded. At this point, my targets are 52, and 59. You can see why when you look at this beautiful chart.

On the long side, stocks included Agilent Technologies, Inc. (NYSE:A), Baozun Inc. (BZUN), Majesco Entertainment Company (COOL), Corcept Therapeutics Incorporated (CORT), Freeport-McMoRan Inc. (FCX), Southern Copper Corporation (SCCO), MiMedx Group, Inc. (MDXG), MyoKardia, Inc. (MYOK), NovoCure Limited (NVCR), Star Bulk Carriers Corp. (SBLK), Spectrum Pharmaceuticals, Inc. (SPPI), Supernus Pharmaceuticals, Inc. (SUPN), VelocityShares 3x Long Silver ETN (USLV), and 58.com Inc. (WUBA).

On the short side, stocks included Astronics Corporation (ATRO), Continental Resources, Inc. (CLR), Cummins Inc. (NYSE:CMI), Gentex Corporation (GNTX), Hawaiian Holdings, Inc. (HA), MYR Group Inc. (MYRG), Parsley Energy, Inc. (PE), Tanger Factory Outlet Centers, Inc. (SKT), Targa Resources Corp. (TRGP), Tetra Tech, Inc. (TTEK), Veritiv Corporation (VRTV), and WESCO International, Inc. (WCC).

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