The markets are in consolidation mode, and pretty undecided about what direction it wants to take yet. A lot of stocks have rebounded nicely. Gold has taken off. Others have done well. Let's take a look at them.
SolarEdge Technologies Inc (O:SEDG), Wall Street’s favorite solar, is doing well, up 2.10 to 29.54, or 7.6%, on 4 million shares, and closed a point off the high on Thursday. That was at resistance and likely the reason it pulled back from there. I think we still have 33 and 37 covered as targets. Nice chart and great volume for this stock.
Sientra Inc (O:SIEN), a swing trade of ours, had an inside day on Thursday with lower volume and the OBV moving up. It just feels like its destined to go higher. Look for this stock to eventually be 12, 13, even 14. It closed flat, up just 3 cents to 9.00, on 660900 shares traded.
Intrexon Corpn (N:XON) exploded 3.95 to 34.96, or 12.7%, on 3.9 million shares, and closed 75 cents off the high on Thursday. A very good close. It is in a nice, orderly run up. Look for 40 eventually. It has 9 days to cover.
Other stocks on the long side included Barrick Gold Corporation (N:ABX), Agnico Eagle Mines Limited (N:AEM), Anglogold Ashanti Ltd (N:AU), Market Vectors Gold Miners (N:GDX), Gold Fields Limited (N:GFI), Goldcorp Inc (N:GG), Randgold (L:RRS) Resources Ltd (O:GOLD), Newmont Mining Corporation (N:NEM), Direxion Daily Gold Miners Bull 3X Shares (N:NUGT), Sibanye Gold Limited (N:SBGL), Silver Wheaton Corp (N:SLW), Amedica Corp (O:AMDA), Cree Inc (O:CREE), 3D Systems Corporation (N:DDD), Direxion Daily S&P Biotech Bull 3X Shares (N:LABU), Mattel Inc (O:MAT), Oclaro Inc (O:OCLR), SolarEdge Technologies Inc (O:SEDG), Sientra Inc (O:SIEN), and Intrexon Corpn (N:XON).