BioTelemetry Inc (NASDAQ:BEAT) looks good. I put a swing out on it, only because I like the way it broke out on Tuesday and followed through on Wednesday. It did back off, but still closed up just 45 cents, or 2%, to 25.10, on 777,099 shares traded. I would look for support around 23 1/2-24, and targets are 28, 30, and even as high as 32, potentially.
EXACT Sciences Corporation (NASDAQ:EXAS) had a nice day on Wednesday. It broke out of that little wedge, popping 79 cents, or 4%, to 19.69, on 2.5 million shares traded. With 10.2 days to cover, it should make a quick run to 20.40, and 22 1/2.
Shopify Inc (NYSE:SHOP) had a big day on Wednesday, our swing trade reaching 60, jumping 4.56, or 8%, to 60.61, on 5.7 million shares traded. That’s one of the biggest volumes ever traded on this stock. It may extend a little bit, but if it doesn’t get anywhere near the mid-to-high 60’s, it’s only because it’s four waves up and potentially into the fifth wave.
Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) ran all the way up to 23 3/4 before backing down, but still, it closed up 26 cents, or 1.14%, to 23.00, on 742,388 shares traded. After moving up 11 out of 12 days in a row, it could have been a little bit overbought in that zone. However, if it accelerates and continues, the angle of ascent says 26 1/2 at the top of the channel may very well be doable, before a pullback. It has 3 days to cover .
Stocks on the long side included achc, Acorda Therapeutics Inc (NASDAQ:ACOR), Aehr Test Systems (NASDAQ:AEHR), Aphria Inc (V:APH), Aphria Inc (V:APH), BioTelemetry, Inc, CAE Inc. (TO:CAE), Editas Medicine Inc (NASDAQ:EDIT), Exact Sciences Corporation, Groupon Inc (NASDAQ:GRPN), Direxion Daily S&P Biotech Bull 3X ETF (NYSE:LABU), MDC Partners Inc (NASDAQ:MDCA), Nova Measuring Instruments Ltd (NASDAQ:NVMI), Ignyta Inc (NASDAQ:RXDX), Sage Therapeutic (NASDAQ:SAGE), Shopify Inc., WaferGen Bio-systems Inc (NASDAQ:WGBS), Wix.Com Ltd (NASDAQ:WIX), XPO Logistics Inc (NYSE:XPO), Zosano Pharma Corp (NASDAQ:ZSAN), and Zynerba Pharmaceuticals, Inc.