It was a sloppy day on Wall Street, and kind of a consolidation day, but I’ll take it. A lot of stocks we follow or trade did well today. It was a nice start to the week. Let’s take a look at a few of the more interesting charts.
Cynosure, Inc. (NASDAQ:CYNO) is one of our swing trades. After popping and pulling back, it started to move again. It was up two days ago, but then backed off. On Monday, it popped 1.69 to 49.39, or 3.54%, on 447,500 shares traded. It has 5.37 days to cover. This looks like a stock that could move to higher levels. It’s 5 waves up, and consolidation may take a little longer, but the key being that it’s taken out of the key resistance zone, and may very well be headed to the high 50’s.
DepoMed Inc. (NASDAQ:DEPO) has been very interesting. It looks like a left shoulder-head-and maybe a right shoulder, or an inverse head-and-shoulder forming. On Monday, it was up 2.34 to 17.85, or 15%, on 4.4 million shares. It has a neckline right in the 16 3/4 range. If it can get through that, the targets are 21 and 25. It has 5.89 days to cover.
Medivation, Inc. (NASDAQ:MDVN) has been up nearly every day for a week, up again on Monday 2.54 to 62.54, or 4.23%, on 6.2 million shares. They signed a non-disclosure agreement with Pfizer Inc. (NYSE:PFE) and Amgen Inc. (NASDAQ:AMGN), and it looks like it’s going to be a done deal somewhere in the high 60s to low-to-mid 70s.
Primo Water Corporation (NASDAQ:PRMW) had a nice pop on Monday, up 43 cents to 11.92, or 3.7%, on 278,500 shares traded. It moved up and out, reached a multi-year high from 2011, and looks like it’s headed to 13 1/2, and then 15 1/2-3/4.
Stocks on the long side included Cellectis S.A. (NASDAQ:CLLS), Cynosure, Inc. (CYNO), DepoMed Inc. (DEPO), Ebix Inc. (NASDAQ:EBIX), Direxion Daily Energy Bear 3X ETF (NYSE:ERY), Five9, Inc. (NASDAQ:FIVN), Direxion Daily Jr Gld Mnrs Bear 3X ETF (NYSE:JDST), Direxion Daily S&P Biotech Bull 3X ETF (NYSE:LABU), Medivation, Inc. (MDVN), Primo Water Corporation (PRMW), USA Technologies Inc. (NASDAQ:USAT).