What a nice trading day on Wednesday, although the indices had a choppy consolidation day. They closed firm and there were gains on the day, technicals were pretty good. So let’s take a look at the stocks that did well.
Himax Technologies, Inc. (NASDAQ:HIMX) has a beautiful 2-year base, that swung back and forth from 5 1/2 to 9 1/2, only to back off each time. Finally, it moved through, ran up to the secondary target at 10 3/4, backed off and formed a wedge, and on Wednesday it popped 37 cents to 10.10, or 2.8%, on 2.7 million shares. With the volume increase, the best in 5-6 days, we put a swing on it. At this point, this stock has some promise to extend this move. Be looking for it to make it up around 11 1/2, and then to the 12 3/4-13 range. It has 2.7 days to cover.
Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) has a beautiful pattern and has been acting very well. We put out a swing trade on it, and it popped, wedged, broke out, and on Wednesday it popped through resistance, up 56 cents to 15.21, or 3.8%, on 1.4 million shares. Look for a move short-term up towards 17, and then a secondary target 20-21.
Whiting Petroleum Corp. (NYSE:WLL) had a monster move up, taking it from 3.00 to 9.00, it ran up to resistance, backed off, and Wednesday was an inside day. It popped 90 cents to 7.83, or 13%, on 33.5 million shares. If oil continues to push, this stock could run up to 10.00, or better.
Other stocks on the long side included Amedisys Inc. (NASDAQ:AMED), Air Transport Services Group, Inc. (NASDAQ:ATSG), Peabody Energy Corporation (NYSE:BTU), Blue Buffalo Pet Products, Inc. (NASDAQ:BUFF), Energy Recovery, Inc. (NASDAQ:ERII), Himax Technologies, Inc. (HIMX), Mitek Systems, Inc. (NASDAQ:MITK), MaxLinear, Inc. (NYSE:MXL), ORBCOMM, Inc. (NASDAQ:ORBC), Primo Water Corporation (NASDAQ:PRMW), Supernus Pharmaceuticals, Inc. (SUPN), Swift Transportation Company (NYSE:SWFT), Smith & Wesson Holding Corporation (NASDAQ:SWHC), Targa Resources Corp. (NYSE:TRGP), USA Technologies Inc. (NASDAQ:USAT), and Whiting Petroleum Corp. (WLL).