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4 Stocks To Watch: GSUM, MRTX, ALB, BITA

Published 02/02/2018, 12:03 AM
Updated 07/09/2023, 06:31 AM

Gridsum Holding Inc (NASDAQ:GSUM) has been up four days in a row in a lousy market. That’s a good sign of relative strength. It did pop to a new high to almost 14.00 on Thursday, up 11 cents to 13.39 on 11 million shares traded and backed off. I’d watch this one going forward because if it gets through 13.94, which is the highest this stock has reached since Dec 2016, my next target going forward is 16.

Swing trade Mirati Therapeutics, Inc. (NASDAQ:MRTX) is doing great, popping another 70 cents, or 2.7%, to 26.60, on 463,592 shares traded on Thursday. Ever since it popped and pulled back at about the 10 level, it has been trending nicely. At this point, it’s forming a very nice bull coil, which I think will result in a breakout and a run to the 30-31 range, and then beyond.

Stocks on the Short Side….

Albemarle Corporation (NYSE:ALB) was down 2.39, or 2%, to 109.20, on 2 million shares traded on Thursday. It rolled over and was unable to bounce more than a day. It looks like it wants to run down to 102-3, and then to about 88-90.

Bitauto Holdings Limited (NYSE:BITA) dropped 2.07, or 6%, to 32.72, on 869,556 shares traded on Thursday. It’s rolling over after getting smashed in November. It rallied for a couple months back to what looked like the declining topsline, to me. At this point, the rollover is beginning. Targets are 28, and then 21-22.

On the long side, stocks included CNH Industrial N.V. (NYSE:CNHI), California Resources Corporation (NYSE:CRC), Constellium N.V (NYSE:CSTM), Etsy, Inc. (NASDAQ:ETSY), EZCORP, Inc. (NASDAQ:EZPW), Phoenix New Media Limited (NYSE:FENG), GRIDSUM HOLDING INC. (GSUM), Iovance Biotherapeutics, Inc. (NASDAQ:IOVA), Mirati Therapeutics, Inc. (NASDAQ:MRTX), Meritor, Inc. (NYSE:MTOR), Mazor Robotics Ltd. (NASDAQ:MZOR), Nektar Therapeutics (NASDAQ:NKTR), Open Text Corporation (TO:OTEX), QuinStreet, Inc. (NASDAQ:QNST), Ferrari N.V. (NYSE:RACE), Shutterfly, Inc. (NASDAQ:SFLY), Teva Pharmaceutical Industries Limited (NYSE:TEVA), Twitter, Inc. (NYSE:TWTR), Viking Therapeutics, Inc. (NASDAQ:VKTX), Xylem Inc. (NYSE:XYL), and Zafgen, Inc. (NASDAQ:ZFGN).

Short side included Argan, Inc. (NYSE:AGX), Albemarle Corporation (NYSE:ALB), Bitauto Holdings Limited (NYSE:BITA), and The Trade Desk, Inc. (NASDAQ:TTD).

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