It was another good day for the markets. They are still plowing ahead, even though they appear to be overbought, although the oscillators aren’t overbought. They’re just working off the overbought conditions to proceed higher. A lot of the stocks we’re trading, and are looking favorably, that is what we’re going to take a look at here.
Novogen (NASDAQ:NVGN) has a bullish pattern. It’s kind of up, it’s down, it’s very choppy, and It’s not showing a pleasing pattern. That doesn’t mean it can’t continue upward. It was up 66 cents to 3.45, or 23.6% on Tuesday, and was up a little further in after hours. The one-minute showed it getting as high as 3.50, and the daily charts has it closing at 3.45, so it was up a nickel since the market closed yesterday. That’s significant because the major declining topsline may have been broken. If it does continue to move, it may see 4.00-4.25, and then 5.00-5.25, potentially.
Portola Pharmaceuticals, (NASDAQ:PTLA) broke out on Friday and followed through nicely on Tuesday, up 2.06 to 37.02, or almost 6%, on a little over a half-million shares. Solid volume, but not terrific. A clean breakout to a major base could lead to higher levels. Target is 40.
Rosetta (NASDAQ:ROSG) had a great day, up 1.15 to 4.00, or 31 1/2%, on 14.5 million shares on Tuesday. That was huge volume. It closed substantially off the high at 5.55, which is significant because it had its first snapback in that zone. There's resistance up at 5.50-5.55. The target is 6.50-6.70. See if it sets up a little flag there. It has three waves up, and it may get a fourth, and then a fifth wave up.
Silicon Motion Technology (NASDAQ:SIMO) is one of my swing trades that is acting great. It recently broke out of the falling wedge and declining topsline, through lateral resistance, and prior highs from September, it pulled back and got very narrow for a couple days on lower volume, and on Tuesday, it popped 82 cents to 29.90, or 2.8%k on 721,800 shares traded. That’s the best volume in four sessions. Let’s see if it can get to the target at 30.50. If it can get through there, the targets are 33 at mid-channel, followed by 36.
Other stocks on Harry’s Charts of the Day included Array BioPharma, (NASDAQ:ARRY), Boston Scientific Corporation (NYSE:BSX), Canadian Solar (NASDAQ:CSIQ), Cyber-Ark, Software (NASDAQ:CYBR), CYREN (NASDAQ:CYRN), Cytokinetics, (NASDAQ:CYTK), Eagle Pharmaceuticals (NASDAQ:EGRX), FireEye, (NASDAQ:FEYE), 1-800-Flowers.com (NASDAQ:FLWS), Genetic Technologies (NASDAQ:GENE), Mattson Technology (NASDAQ:MTSN), Sorrento Therapeutics, (NASDAQ:SRNE), and SunEdison, (NYSE:SUNE).