It’s coming up on Christmas, and we’ve had a Santa Claus rally all week. It was another good day on Wall Street and a lot of stocks we follow did great along with some new ones. Let's take a look at them.
Kandi Technologies Group Inc (O:KNDI) looks like a dandy, with multiple lows and highs going back a year and a half were taken out Tuesday and followed through on Wednesday, up 46 cents to 11.30, or 4%, on 1.2 million shares. A swing was put on it, and it looks really good. Targets are 14 1/2-3/4, and then 17.
Pacific Biosciences of California (O:PACB) was awesome on Wednesday. It’s in its fifth-wave move at the top of what looks like a parallel channel. It exploded 1.35 to 13.45, or 11%, on 3.7 million shares. The OBV has extended higher. It could accelerate and get up to 16 or 17. I encourage people to consider taking at least half off the table because of the potentiality of a consolidation pullback. Nevertheless, it was a really nice move. It has 12 days to cover.
Sorrento Therape (O:SRNE) popped. I almost put a swing on it on Tuesday. Instead, I waited and it popped and pulled back, and then I put a swing on it. It was up only 24 cents to 10.03, or 2.45%, on nearly a million shares. With 8 days to cover, and with the declining topsline formation not broken, and a move to the upside with volume, if it gets through 10.70, this could be a 13 3/4-14-dollar stock going forward.
TherapeuticsMD Inc (N:TXMD) had a swing trade put on it that is working great. It popped and pulled back, broke out of the wedge, moved up 4 days in a row, and looks like it’s going to reach the 11-dollar target as quickly as Thursday. It was up 47 cents to 10.56, or 4%, on 2.5 million shares on Wednesday.
Other stocks on the long side included Alcoa Inc. (N:AA), Adamas Phar (O:ADMS), Canadian Solar Inc (O:CSIQ), Constellium Nv (N:CSTM) 8x8 Inc (O:EGHT), Exelixis Inc (O:EXEL), Horizon Pharma PLC (O:HZNP) Iridium Communications Inc (O:IRDM), Mattel, Inc. (O:MAT), Ohr Pharmaceuticals Inc (O:OHRP), Omega Protein Corporation (N:OME), Rovi Corporation (O:ROVI), Rewalk Robotics Ltd (O:RWLK), and Zendesk Inc (N:ZEN)