The market had a decent day on Thursday, but there was a mixed session at the end. A lot of stocks we follow did very well and are trending. So let’s see what’s going on with them now and where they might be headed.
Genocea Biosciences, Inc. (NASDAQ:GNCA) was the star of the day on Thursday, up 3.77 to 7.74, or 95%, on 24 million shares. It exploded from 5.37 to 8.07, and in afterhours it made it all the way back to 8.45 before dropping back to 6.50. However, it edged up another 1.50 to 7.65. That kind of breakout move, and volume of 24 million, is unheard of for this stock. The Oct high was 8.20, that’s why the target on Thursday was 8.15. If it does punch through here, don’t be surprised if it gets up to 10 or 11.
Inogen, Inc. (NASDAQ:INGN) had a great day. The swing trade that was put on it a week ago has finally come to fruition, with a pop on Thursday of 2.97 to 44.98, or 7%, on 565,900. It broke out and got right up to the next resistance. I do think it’s going to take a run at the 47-47 1/2 range short-term, and then 55 intermediate-term.
The Direxion Daily S&P Biotech Bull 3X ETF (NYSE:LABU) is still basing, but looking better. It was up 2.29 to 27.47, or 9.1%, on 57 million shares traded. That’s the biggest volume in its history on Thursday on an up day. That’s a good sign. Watch the declining topsline, and later resistance at the 30 range, it could very well run up to 34 very quickly, and then it will really take off.
Stocks on the long side included ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), Celator Pharmaceuticals, Inc. (NASDAQ:CPXX), Dynagas LNG Partners LP (NYSE:DLNG), Genocea Biosciences, Inc. (GNCA), Inogen, Inc. (INGN), Direxion Daily S&P Biotech Bull 3X ETF (LABU), Medivation, Inc. (NASDAQ:MDVN), MaxLinear, Inc. (NYSE:MXL), NeoPhotonics Corporation (NYSE:NPTN), Primo Water Corporation (NASDAQ:PRMW), SciClone Pharmaceuticals, Inc. (NASDAQ:SCLN), Targa Resources Corp. (NYSE:TRGP), and Xerox Corporation (NYSE:XRX).