The market had a wonderful day on Monday. It was strong, and a lot of biotechs led the way. We’re going to take a look at a mixture of stocks, including biotech stocks that are acting very well. There are some swing trades as well.
Anavex Life Sciences Corp. (OTC:AVXLD) is a monster and really is acting great. It’s extremely speculative, and trading thin. The fifth wave is under way, which could get it up to 20, give or take a point or two. Maybe. We’re not sure yet. Monday was spectacular as it ran up 2.42 to 13.00, the high for the day, or 22.8%, on 4 million shares, the most volume it’s had for a while. It did trade 4.7 million shares back in July when it broke out. That was a strong day for this stock.
BSQUARE Corp. (O:BSQR), one of our swing trades, is acting great. It’s moving up a little at a time, pausing a day or two between each move, and on Monday, it was up another 67 cents to 11.55, or 6%, on 345,200 shares traded. Not huge volume, but when it gets up near 14, it may trade some pretty heavy volume. For now, stay long.
Energy Recovery, Inc. (O:ERII) had a significant day on Monday because of the wedge that was forming after the big, explosive gap up. It was up 60 cents to 7.77, or 8.37%, on 2.2 million shares. The spike high was at 8.16, and Monday’s high is 7.99. If it gets through that level, it could run up to 10-10 plus.
Neogenomics Inc. (O:NEO) is acting well. It exploded on Monday, up 95 cents to 8.00, or 13.5%, on 2.5 million shares. That’s another example of a breakaway move. It formed a beautiful bull wedge. Low volume ebb, and then boom, it ran. It appears to be heading up toward the 9 1/4-1/2 zone.
Other stocks on the long side include A10 Networks, Inc. (N:ATEN), Cellectis S.A. (O:CLLS), Concert Pharmaceuticals, Inc. (O:CNCE), Cytokinetics, Incorporated (O:CYTK), Five Prime Therapeutics, Inc. (O:FPRX), JinkoSolar Holding Co., Ltd. (N:JKS), Juno Therapeutics Inc. (O:JUNO), Neurocrine Biosciences Inc. (O:NBIX), Natural Health Trends Corp. (O:NHTC), and Steel Dynamics Inc. (O:STLD).