Arbutus Biopharma Corporation (NASDAQ:ABUS) had broken out of a base in June, pulled back and tested, ran up, and has been consolidating. It looked like it reversed on Monday, and Tuesday was a positive inside day, still popping 25 cents, or 2.84%, to 9.05, on 588,532 shares traded. It looks to me like it’s not done yet. Targets are 10 1/2-11, and then 12 1/2, or better. Support, or any pullback would be 8.20-.25.
Marinus Pharmaceuticals (NASDAQ:MRNS), one of our old swing trades, worked for a while back in November and December, rolled over, re-established itself with an inverse head-and-shoulders and right-handed, extended V, broke through the declining topsline, broke above resistance, got to secondary resistance, formed a wedge, broke out of the wedge, and on Tuesday, it jumped 63 cents, or 8.6%, to 8.04, on a million shares. The levels I will be watching going forward are 8 1/4, 10, and then 12.
Opko Health (NASDAQ:OPK), which I put a swing on Tuesday, bounced 27 cents, or 4.89%, to 5.79, on 8.9 million shares. I like the overall look of this stock. Here’s why. It had a long-term downtrend, formed a right-handed V, got up to the declining topline, formed a wedge, broke out on Friday on big volume, and on Tuesday it had a bit of a follow-through. I’m looking for more upside. Targets going forward are 6 1/2 and 7 1/2.
Xencor (NASDAQ:XNCR), one of our old swing trades, is working well, gaining 52 cents, or 1.33%, to 39.66, on 396,925 shares traded on Tuesday. It formed a double-top, came down, broke out, and now I think it’s headed to the 50-52 zone going forward.