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AbbVie Inc. (NYSE:ABBV) was up 4.88, or 5.8%, to 89.04, on 6.2 million shares on Wednesday. It looks like a V-bottom, a run-up to resistance, it pulled back, formed a falling wedge, and then popped on Wednesday. It took it out across the resistance. It’s looking better than it had been. What I am going to be looking for is multiple resistance to be taken out. Targets are 95, 99, and the 104-106 area.
Aphria Inc (NYSE:APHA) popped 27 cents, or 5%, to 5.72, on 7 million shares on Wednesday. I still like the V-bottom on this stock, with the big engulfing reversal bar, the slow pullback, and then the 3-wave corrective channel. It reversed on Monday, which was not a good day, the DOW down over 400 points, and on Wednesday it was up a little bit more before it backed off at resistance, which was about 6.15-.20. My targets going forward are 7, 7 3/4, and then all the way up to the 9-10 zone.
Twilio Inc (NYSE:TWLO) spiked up 9.80, or 13%, to 85.39, on 5.4 million shares on Wednesday, and closed at the high for the day going away. I like this stock, and almost put a swing on it on Wednesday. The market favored this stock, too. It looks to me like it can extend here, but there might be some resistance around 90-91. My targets are 99 and 108.
Swing trade Vanda Pharmaceuticals Inc (NASDAQ:VNDA), in an orderly decline, came out of a falling wedge on Wednesday, and popped 2.17, or 9%, to 25.95, on 612,254 shares traded. I like the look of this stock. We’ll see if it can extend with a bounce off 50. There’s some lateral resistance right near the close on Wednesday. If it gets up through here, targets are 29 1/2-30, and the 33.
Stocks on the long side included AbbVie Inc (NYSE:ABBV), Adial Pharmaceuticals Inc (NASDAQ:ADIL), Aphria Inc (NYSE:APHA), California Resources Corp (NYSE:CRC), Crocs Inc (NASDAQ:CROX), GenMark Diagnostics Inc (NASDAQ:GNMK), Direxion Daily S&P Biotech Bull 3X Shares (NYSE:LABU), Lululemon Athletica Inc (NASDAQ:LULU), NF Energy Saving Corporation (NASDAQ:NFEC), Okta Inc (NASDAQ:OKTA), Qutoutiao Inc (NASDAQ:QTT),SendGrid (NYSE:SEND), Teladoc Inc (NYSE:TDOC), Twilio Inc (NYSE:TWLO), VelocityShares 3x Long Crude linked to S&P GSCI Crude Oil Excess Return (NYSE:UWT), Vanda Pharmaceuticals Inc (NASDAQ:VNDA), Vitamin Shoppe Inc (NYSE:VSI), and XPO Logistics Inc (NYSE:XPO).
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