It was kind of a rough day on Wall Street on Monday. Nasdaq had a good day, but the Blue Chips did not. As a result, it was a mixed picture. A lot of stocks we follow did well.
Exact Sciences Corporation (NASDAQ:EXAS) hit the top of the channel on Monday and backed off, up 73 cents to 18.11, or 4.2%, on 7.3 million shares. The volume is lower than it has been, but the OBV keeps pushing up. I’m looking for 22 as the target on this stock, and I think we’re going to get there. It has 3.75 days to cover.
Nektar Therapeutics (NASDAQ:NKTR) is acting great. The wedge broke, and it’s been up three days in a row. Strongly so. It closed up 47 cents to 17.76, or 2.7%, on 1.9 million shares on Monday. I’m expecting more upside now that it’s broken through the double top. I would not be shocked to see this make a run to 20, and then 23. There’s 11.9 days to cover.
Universal Display Corp. (NASDAQ:OLED), a swing trade of ours, continues to push another little pop out of a mini wedge, jumping 2.98 to 73.82, or 4.2%, on nearly million shares. With 5.2 days to cover I expect this one to head up to the 83-85 range. 5.22 days to cover.
Swing trade, Xencor, Inc. (NASDAQ:XNCR) looks like it’s beginning to work. It popped out of a coil on Monday, up 41 cents to 19.35, or 375,213 shares traded on Monday. All it needs is a run through the 19 1/4 range. Maybe it will get there on Tuesday. Target going forward is 22. I like the way it’s looking. It has 5.3 days to cover.
Stocks on the long side included First Majestic Silver Corp. (NYSE:AG), Array BioPharma Inc. (NASDAQ:ARRY), Accelerate Diagnostics, Inc. (NASDAQ:AXDX), VelocityShares 3x Inverse Crude Oil ETN (NYSE:DWTI), ProShares UltraShort Bloomberg Crude Oil (NYSE:SCO), Etsy, Inc. (NASDAQ:ETSY), Exact Sciences Corporation (EXAS), Market Vectors Gold Miners ETF (NYSE:GDX), Inovio Pharmaceuticals, Inc. (NASDAQ:INO), Innoviva, Inc. (NASDAQ:INVA), Direxion Daily S&P Biotech Bull 3X ETF (NYSE:LABU), LeMaitre Vascular, Inc. (NASDAQ:LMAT), MeetMe Inc. (NASDAQ:MEET), Nektar Therapeutics (NKTR), Universal Display Corp. (OLED), ORBCOMM, Inc. (ORBC), Silver Wheaton Corp. (NYSE:SLW), Weibo Corporation (NASDAQ:WB), Xencor, Inc. (XNCR), and Yirendai Ltd. (NYSE:YRD).