It was a great way to start the week on Monday. The indices retested the lows in the morning, and then took off and were up all day. It was a really good session. Many of our stocks did well, and there were some new ones. Let’s take a look at some of them.
8x8 Inc. (O:EGHT) has 5.3 days to cover. It broke out of a semi-flag on Monday, up 46 cents to 11.28, or 4.25, on 1 million shares, and reached near key, long-term resistance level. If it gets up through 11.65, which is the target, a test of the all-time high at the 12.42 range may be doable. It’s a beautiful, long-term chart, and has a nice breakout consolidation.
Juno Therapeutics Inc. (O:JUNO) is one of the better acting biotechs in an ugly biotech market, up a whopping 3.47 to 53.47, or 7%, on 1.4 million shares, on Monday. It’s stair-stepping its way higher and is breaking out of a wedge. Look for a retest to take out the 56 1/4 range, followed by 60, and then the high 60s. It has 5.2 days to cover.
Oasis Petroleum Inc. (N:OAS) is a nicely developing junior oil, up 77 cents to 12.46, or 7%, on 7.4 million shares on Monday. It had a strong base, a breakout at the beginning of Oct, it retested, and formed a big wedge. It needs to break out and get up through the 12.46 zone, and then 18.
Omega Protein Corporation (N:OME), which was a swing trade, was up 16 cents to 22.66, on 688,000 shares traded on Monday. It had a target of 221/2-23 that was reached. If it consolidates in that range, the next target is 25-26.
Other stocks on the long side include AcelRx Pharmaceuticals, Inc. (O:ACRX), Bonanza Creek Energy, Inc. (N:BCEI), Baytex Energy Corp. (N:BTE), ConocoPhillips (N:COP), Digi International Inc. (O:DGII), Helix Energy Solutions Group, Inc. (N:HLX), Lipocine Inc. (O:LPCN), and Natural Health Trends Corp. (O:NHTC).