Correvio Pharma Corp (NASDAQ:CORV) broke out of a wedge on Monday, popping 43 cents, or 10%, to 4.61, on 156,425 shares, in a very difficult market. Now, the buy in was low, but I think it’s the kind of stock that is headed higher. If we can get through that zone, I’m looking for 6 3/4. It might be a swing trade.
ADMA Biologics Inc (NASDAQ:ADMA) continues its run on Monday, and even though it did back off the spike high of 6.86, it was up 19 cents, or 3%, to 6.28, on 765,662 shares. It looks to me like it’s headed to the 8-dollar range. Secondary target is 10. Strong momentum.
Stocks on the Short Side…
Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) was put out as a short on Monday and you can see why. The major up-turn broke. It spent 3 months of consolidating, and looks like it broke today, dropping 7.70, or 7%, to 96.81, on 1.3 million shares. I’m going to go with this on the short side for a break down under 87, and run down towards 70-72, even though my target is 75.
Daqo New Energy Corp ADR (NYSE:DQ), which we did put out on Monday, looks like it’s beginning to break, maybe. It was down 92 cents, or 2 1/2%, to 36.07, on 324,158 shares. This is a bare wedge all the way. My target is 28, and then mid 20’s.
Stocks on the long side included ADMA Biologics Inc (NASDAQ:ADMA), Advanced Micro Devices, Inc. (NASDAQ:AMD), AudioCodes Ltd. (AUDC), Correvio Pharma Corp. (CORV), Denbury Resources Inc. (NYSE:DNR), Essendant Inc. (ESND), GeoPark Limited (GPRK), The Habit Restaurants, Inc. (HABT), and Veoneer, Inc. (VNE).
On the short side, stocks included Alnylam Pharmaceuticals, Inc. (ALNY), Coherent, Inc. (COHR), Daqo New Energy Corp. (DQ), Editas Medicine, Inc. (EDIT), FirstCash, Inc. (FCFS), Gravity Co., Ltd. (GRVY), Itron, Inc. (ITRI), JD.com, Inc. (JD), Olin Corporation (OLN), Red Hat, Inc. (RHT), Starbucks Corporation (NASDAQ:SBUX), Smart Global Holdings Inc (NASDAQ:SGH), SINA Corporation (SINA), Sun Hydraulics Corporation (SNHY), Tailored Brands, Inc. (TLRD), LendingTree, Inc. (TREE), Ultra Clean Holdings, Inc. (UCTT), Valmont Industries, Inc. (VMI), and Weibo Corp (NASDAQ:WB).