It was an interesting day on Wall Street on Tuesday, to say the least. The market was up in the morning, down solidly all day, until the last hour when they rallied back. It was a mixed day, but a lot of stocks did well, and half of them are biotech stocks.
GasLog Ltd (NYSE:GLOG) has a very nice, long-term pattern. Here’s a stock that traded in the 30’s, and dropped all the way down to 5.00. After a 5-wave decline, it reversed with a 5-wave move up. It looks like it is 3-waves up, and 4 and 5 could take it to 19, even 24. Those are the swing targets, but it needs to get through 15-16 first. On Tuesday it was up 33 cents to 12.45, or 2.72%, on 475,016 shares traded. It has 7 days to cover.
Juno Therapeutic (NASDAQ:JUNO) had a good day on Tuesday, up 1.39 to 43.43, or 3.3%, on 941,355 shares traded. After the V-bottom, it was in a consolidation zone with wave 1 and 2. If it can move above 45 3/4, this can be a 55-58 stock, or more. It has 9.32 days to cover.
MaxLinear Inc (NYSE:MXL) is looking very well. I originally gave it to you at 19.30, it backed and filled, and was trading at 20.72 on Tuesday, up 45 cents, or 2.22%, on 1.2 million shares. I’m thinking MXL can make a move to 22 at mid-channel, and then 25-6 at the upper end of the range. It has 2.46 days to cover.
Neurocrine Biosciences Inc (NASDAQ:NBIX) popped across a double-top on Tuesday with a breakaway gap, up 3.46 to 49.65, or 7.5%, on 2.2 million shares. It looks like it wants to run into the 54-58 zone, which are the two targets going forward. It has 7.6 days to cover.
Stocks on the long side included Ariad Pharmaceuticals Inc. (ARIA), Celldex Therapeutics Inc (NASDAQ:CLDX), Cliffs Natural Resources Inc (NYSE:CLF), Eldorado Resorts LLC (NASDAQ:ERI), FuelCell Energy Inc (NASDAQ:FCEL), Flexion Theraptc (NASDAQ:FLXN), GasLog Ltd (NYSE:GLOG), Inovio Pharmaceuticals Inc (NASDAQ:INO), Juno Therapeutics Inc. (JUNO), Kite Pharma (NASDAQ:KITE), Direxion Daily S&P Biotech Bull 3X Shares (NYSE:LABU), Lexicon Pharmaceuticals Inc (NASDAQ:LXRX), Micron Technology, Inc. (NASDAQ:MU), MaxLinear Inc (NYSE:MXL), Neurocrine Biosciences Inc (NASDAQ:NBIX),Minerva Neu (NASDAQ:NERV), Novavax, Inc. (NVAX), Pacific Ethanol Inc (NASDAQ:PEIX), Sodastream International Ltd (NASDAQ:SODA), TASER International Inc (NASDAQ:TASR), VelocityShares 3x Long Natural Gas linked to S&P GSCI Natural Gas Excess Return (NYSE:UGAZ), Vuzix Corp Cmn Stk (NASDAQ:VUZI), Weibo Corp (NASDAQ:WB), Direxion Daily FTSE China Bull 3x Shares (NYSE:YINN)