It was a disappointing day on Wall Street on Monday, and closed on the downside after being up in the morning. A lot of stocks we follow did well. Even during the pullback some of these stocks consolidated nicely, and some actually broke out.
Natera Inc (NASDAQ:NTRA) has a nice base, pop, went right to resistance, up 1.12 to 12.12, or 10%, on 630,500 shares traded on Monday. It formed a beautiful wedge, low volume ebb, and then the breakout. It has 22 days to cover. This could be a wild fire. Keep your eye on this one. The next target is going to be 14, followed by 16 1/2.
Universal Display (NASDAQ:OLED), one of our swing trades, worked well, pulled way back, gapped up on Monday and ran 4.88 to 61.29, or 8.65%, on 2 million shares. There’s still 5 days to cover. The target is 68-70, and then the high 70’s.
US Silica Holdings Inc (NYSE:SLCA), one of our swing trades, is acting nice and orderly in a rising channel. The pullback three weeks ago came down to the moving average, 50-day, and trendline, bounced, had a 2-day pullback, and popped again on Monday, up 46 cents to 27.23, or 1.7%, on 2.4 million shares. Right now there is resistance at Monday’s highs at 27.78, with a target of 29 1/2, and then the 32-33 range. It has 4.76 days to cover.
Supernus Pharmaceuticals Inc (NASDAQ:SUPN) has done very well in the last 3-4 months after the big reversal day in February, going from under 10 to nearly 18 1/2, but the 18 1/2 level broke down, which means Monday’s high was the highest level since November, up 44 cents to 18.41, or 2.45%, on 457,000 shares traded, and reaching as high as 18.54. The next target is 20-21, but ultimately I’m looking for much higher than that. It has 4.9 days to cover.
Stocks on the long side included Advanced Micro Devices, Inc. (NASDAQ:AMD), Aqua Metals Inc (NASDAQ:AQMS), Celator Pharm (NASDAQ:CPXX), Exelixis Inc (NASDAQ:EXEL), Inovio Pharmaceuticals Inc (NASDAQ:INO), Direxion Daily S&P Biotech Bull 3X Shares (NYSE:LABU), Natera, Inc. (NTRA), Universal Display Corp. (OLED), U.S. Silica Holdings, Inc. (SLCA), VanEck Vectors Semiconductor (NYSE:SMH), Supernus Pharmaceuticals, Inc. (SUPN), Vuzix Corp Cmn Stk (NASDAQ:VUZI), and Intrexon Corpn (NYSE:XON).