ARIA, BDSI, FXP, UGAZ - Stock Charts to Watch
It was an ugly start to the day on Thursday, but the stock market came back with a roar. The market just won’t quit, not yet anyway. But just because the market snapped back, does not mean it’s out the woods by any means. Actually the snapback was near secondary resistance, so it can still have a downside move. Nevertheless, a lot of our stocks are acting well, so let’s go over some of them.
Ariad Pharmaceuticals Inc. (ARIA) looks like it’s on the brink of an explosive move. After the gap on Thursday, it popped from the 7.26 range to 7.56, backed off, and came on again to 7.52, up 81 cents, or 12%, on 57 million shares. That was a nice gain for that stock. The line of resistance is at 9 1/2, if it breaks out above the 7.75-7.80 zone. If it does, the initial target is 9 1/2, and the secondary target is 12 3/4. It could get higher than that if it really takes off.
BioDelivery Sciences International, Inc. (BDSI) has been moving up nicely. Notice the 2-day pullback. Endo and BioDelivery Sciences announced positive top-line results from the Phase Information Services Group, Inc. (III) clinical trial for patients with chronic pain and it took off. It opened at 5.82, and during afterhours it went as high as 8.75, before settling back. It spiked up, came down, and after holding around the 7 1/2 area, it closed at 8.20. This one is good to watch because it may be a player on Friday.
ProShares UltraShort FTSE China 25 (FXP) is right at the neckline of a potential reversal. If that’s the case, the next target will be up around 20 short-term, and then 22 intermediate-term.
VelocityShares 3x Long Natural Gas ETN (UGAZ) is looking very interesting. With the cold back east, the gas industry is doing very well. This stock broke out across key resistance on Thursday. The next target is 34, and then 38.
Other stocks on Harry’s Charts of the Day are EnerNOC, Inc. (ENOC), Frontline Ltd. (FRO), Keryx Biopharmaceuticals Inc. (KERX), ThermoGenesis Corp. (KOOL), lock, Logitech International SA (LOGI), Mitek Systems Inc. (MITK), Nektar Therapeutics (NKTR), NetScout Systems, Inc. (NTCT).