IDIX, PCYC, REE, SODA - Stock Charts to Watch
It was another solid day on Wall Street on Wednesday, although it was rather volatile for some of the stocks we follow. It was a mixed session at the end, but a lot of our stocks did well.
Idenix Pharmaceuticals Inc. (IDIX) had another good day on Wednesday, up 1.34 to 10.71, or 14.3%, on 7.5 million shares. It popped across key resistance, and we put out a swing trade on it. With the breakaway gap, plus the resistance level, the next target will be a test of 12 1/2, and if it gets through that level, then look for something up around the 14 3/4 - 15 zone
Pharmacyclics Inc. (PCYC) continues the phenomenal move of a year and a half, taking it from 5 to 45. On Wednesday, it jumped another 2.32 to 45.00 even, or 5.44%, on 1.4 million shares. It’s certainly headed toward the top of the channel, with a target around 48.
Rare Element Resources Ltd. (REE), one of the rare-earth stocks that made a significant move on Wednesday, broke through resistance and the 50-day moving average. There’s nothing to take out except the declining topsline at about 5.30. If it gets through that, look for something up around 6 1/2, and then 7 1/2.
SodaStream International Ltd. (SODA) over the last 9 or 10 months has had multiple bottoms, it ran up to resistance, came down, had multiple bottoms again, it moved up off the lows, tested the big declining topsline, consolidated above the moving averages, came down, crossed over, and on Wednesday, this stock moved up 2.75 to 38.18, or 7.76%, on nearly 2 million shares, and closed at the high for the day going away. It had a beautiful move. Look for an acceleration to 42, and then 45.
Other stocks in our Charts for the Day are Allot Communications Ltd. (ALLT), Amyris, Inc. (AMRS), Arena Pharmaceuticals, Inc. (ARNA), Bon-Ton Stores Inc. (BONT), Mitek Systems Inc. (MITK), Oclaro, Inc. (OCLR), Osiris Therapeutics, Inc. (OSIR), Smart Balance, Inc (SMBL).