The markets had a sloppy day on Tuesday. It was another consolidation day for our stocks and a lot of the stocks we follow. That’s two days of consolidation in a row to start the week. It’s not as bad as it could be, though. So, let’s take a look at some of the stocks that did very well on Tuesday.
Corning Inc. (N:GLW) had an interesting day on Tuesday. It had big drop from the 20s down to the mid-teens, and the wedging-type pattern that it formed broke out. It was up 94 cents to 18.26, or 5.4%, on 24 million shares, taking it up to resistance to the 18 1/2 area. If it gets through that, targets are 19 3/4-20, and then 21 3/4.
Isis Pharmaceuticals, Inc. (O:ISIS) had a fabulous day on Tuesday, up 5.29 to 51.90, or 11%, on 2.6 million shares. It broke down in March, had a 5-wave decline, reached key support, and looked like it formed a bear flag, but it broke to the upside through the 50-day moving averages and through the declining topsline. Look for a test of 57, and then 59 at the resistance zone.
Intra-Cellular Therapies, Inc. (O:ITCI) is looking good. On Tuesday, it was up 2.16 to 49.37, or 4.58%, on low volume. It has been moving back steadily since the plunge, when it got down to 35. The high on Tuesday was 50.18. If it can get through this zone, look for it to retest 58-59 going forward.
Juno Therapeutics Inc. (O:JUNO) is acting great, up 3.01 to 52.99, or 6%, on 1.8 million shares. It has 4 waves up, and looks like the fifth one has begun to form. Support held last week, and it’s moved up to resistance, or at least initial resistance. Look for a retest of the July highs that comes in at 54.92. Targets are 55 and 59 1/2.
Other stocks on the long side include Amazon.com Inc. (O:AMZN), Anavex Life Sciences Corp. (OTC:AVXLD), Dermira, Inc. (O:DERM), VelocityShares 3x Inv Natural Gas ETN (N:DGAZ, EarthLink Holdings Corp. (O:ELNK), Integrated Device Technology, Inc. (O:IDTI), Neurocrine Biosciences Inc. (O:NBIX), NovoCure Limited (O:NVCR), Weight Watchers International, Inc. (N:WTW), and Yandex N.V. (O:YNDX).