Charts of the Day video for Tuesday August 8th, 2017
Dynavax Technologies Corporation (DVAX) had a little bit of a follow-through on Tuesday to a new high, and got to my first swing target at 19.00, reaching 19.60. It was up 25 cents, or 1.36%, to 18.65, on 4.2 million shares traded. 95 cents off the high is not a good close, but it looks like it has more to go. Target is still 23-4, and it has 4.2 days to cover .
Kite Pharma, Inc. (KITE) is acting well, and probably one of the better biotech’s out there right now. It spiked up and get to a new all-time high at 122.19 on Tuesday, and it closed up 6.58, or 6%, to 120.13, on 2.2 million shares traded. That’s the best volume in a couple months. It looks like the top of the channel would be the target at 127-8, and if it gets through that, somewhere down the road it would be 150.00.
Kopin Corporation (KOPN) had a significant day on Tuesday, with a breakaway gap, and a sharp move up 57 cents, or 17%, to 3.90, on 1.4 million shares traded. That’s the biggest volume since March 13 on a breakout day. For me, this is a breakout day, and it could be leading to higher levels, eventually, to the 5-5 1/2 range.
Loxo Oncology, Inc. (LOXO) had a pop two days ago, then an inside day, and on Tuesday, it pulled back, held the trendline, and then popped 21 cents to 73.11, on 265,340 shares traded, but wasn’t able to get to resistance near 76 1/2. It did back off. That’s an area we’ll be watching. To me, resistance is at 76 1/4-1/2. If it gets through that, we’re looking at 84, and beyond.
On the long side, stocks included Constellium N.V (CSTM), Dynavax Technologies Corporation (DVAX), FibroGen, Inc. (FGEN), GoPro, Inc. (GPRO), Kite Pharma, Inc. (KITE), Kopin Corporation (KOPN), LendingClub Corporation (LC), Loxo Oncology, Inc. (LOXO), MDC Partners Inc. (MDCA), Mimecast Limited (MIME), Meritor, Inc. (MTOR), MyoKardia, Inc. (MYOK), NovoCure Limited (NVCR), Ralph Lauren Corporation (RL), Tactile Systems Technology Inc., Twilio, Inc. (TWLO), Vonage Holdings Corp. (VG), and Weight Watchers International, Inc. (WTW).