DDD, ONXX, OSIR, SUPN - Stock Charts to Watch
Tuesday was a good day for the stock market, and there were so many compelling bullish stocks that we’re going to go over some of them. However, from the S&P 500 and NDX standpoint, we’re at key levels here, although we continue to see a lot of stocks moving up and breaking out.
3D Systems Corp. (DDD) has had a very strong move of late. The stock moved up beautifully in 2010, came pretty far down in 2011, but reversed and has been in a beautiful rising channel in 2012. In the last couple weeks, it’s gone up, then back down, and then made a 5-wave move, and on Tuesday, it popped 1.26 to 33.01, or 3.97%, on 1.2 million shares. This wave could be completed up around the high 30’s on a short-term basis, but be aware of the potential divergence that could take place.
Onyx Pharmaceuticals, Inc. (ONXX) is doing great, and on Tuesday it upgraded. This stock popped last week, followed through, had an inside day on Monday, and on Tuesday, it popped again, up 1.93 to 67.12, or 3%, on 2.4 million shares. It’s looking pretty darn good, so look for a spike up to get this stock into the low 70’s.
Osiris Therapeutics, Inc. (OSIR) has had a fantastic run up, but it reached key overhead resistance in the 14 1/2 - 15 zone, reaching as high as 13.88. It was up 1.09 to 13.83, or 8.56%, on 850,000 shares on Tuesday. After the market closed, they announced a secondary, so this stock was down after hours. Be careful on this one, and look for some kind of pullback. With this kind of momentum, though, even a secondary may not ultimately decline. If it gets down in the 11 range, there could be a snapback opportunity. So keep an eye on this one.
Supernus Pharmaceuticals, Inc. (SUPN) was the stock of the day with a monster move, up 6.52 to 12.23, or 114%, on 3.5 million shares. Because this is a fairly new issue, it can be taken to the 15-minute charts, which show a big explosive gap, and a sharp run up, which we caught on Tuesday. It formed a falling channel, and flagged, so watch for a potential breakout, and a move up to retest the high, or better. It could very well get up into the mid- to high-teens on a short-term basis.
Other stocks in our Charts for the Day are Amyris, Inc. (AMRS), Antares Pharma Inc. (ATRS), Avanir Pharmaceuticals (AVNR), Ellie Mae, Inc. (ELLI), Galena Biopharma, Inc. (GALE), Glu Mobile, Inc. (GLUU), Lee Enterprises Inc. (LEE), Lexicon Pharmaceuticals, Inc. (LXRX), Repros Therapeutics Inc. (RPRX), Threshold Pharmaceuticals, Inc. (THLD), VirnetX Holding Corp (VHC), and Vringo, Inc. (VRNG).