Eidos Therapeutics, Inc. (EIDX)
EIDX bounced 2.41, or 7%, to 36.07, on 85,997 shares traded on Wednesday. It started the day out with a small pop to 33.98, pulled back to the low for the day at 33.52, rallied, worked its way up to the morning high at 34.96. It then looked like it platformed and wedged its way up. Just as the noon hour was beginning, it reached its second high at 35.65. It came down, popped slightly, formed a thrust that took it to 35.89. It rolled over, and then bounced to the high for the day at 36.27, pulled back slightly, and had a slight bounce that took it near the high for the day. Resistance is near 36.27. If it gets through that, targets are 38, and then 40.
Karyopharm Therapeutics Inc. (KPTI)
KPTI on a drug approval for a cancer, closed up 2.36, or 36%, to 8.90, on 14.2 million shares, and another 50 cents (6%) in after hours taking it to 9.40. It opened to the upside at 6.46, moved along calmly with a few mild highs and lows, and then midmorning, when the approval was announced on Wednesday, it exploded on high volume to 8.85, pulled back slightly, platformed, had another spike up to the high for the day at 9.25. It platformed again, and then pulled back into the close not far from the highs for the day. This was an amazing day for this stock. Targets are 10, and 12.50.
McKesson Corporation
MCK jumped 4.88, or 3 1/2%, to 140.74, on 1.5 million shares on Wednesday. MCK immediately gapped up to 136.99, pulled back to the day’s low at 136.13, popped and pulled back. It made its way up to 142.12, rolled over, consolidated for the next hour, tested the high, and when it failed, it rolled over again, rallied slightly, and pulled back to 141.61. It then popped, started to stair-step its way downward when it took a long slide down to close 1.5 points off the high. Not a bad day for this stock. Resistance is at 142.31. Targets are 145, 147.50, and 150.
Vonage Holdings Corp. (VG)
VG gained 71 cents, or 6%, to 12.30, on 2.6 million shares on Wednesday. It gapped up, pulled back slightly, then coiled its way up to the morning high at 11.91, rolled over, worked its way down to the low for the day at 11.63, rallied to 12.18, pulled back, took a dip to 12.17, rallied back up, rolled over, made a nice thrust to the day’s high at 12.40, moved down, and platformed into the close. If it can get through initial resistance 14.73, the target is 15.
ZIOPHARM Oncology, Inc. (ZIOP)
ZIOP popped 59 cents, or 11%, to 6.02, on 2.55 million shares. This stock had a very interesting day on Wednesday. It opened at 5.50, consolidated and formed coils as it channeled its way up to close at the high for the day. Resistance is at 6.30 and 6.70. If it can get through there, targets are 7.00 and 7.50.
Zynerba Pharmaceuticals, Inc. (ZYNE)
ZYNE bounced 51 cents, or 4%, to 14.75, on 1.1 million shares on Wednesday. It gapped up at the opening, pulled back sharply, popped again. There was some volatility as this stock stair-stepped its way up. ZYNE has strong technicals. Resistance is at 16.47. If it can get through here, targets are 17.50 and 20.
All of these stocks had bullish closes, bullish channels, which varied, and good price action.