4 Stocks To Watch: ARWR, CASI, MRTX, TDOC
Harry Boxer | May 03, 2018 12:26AM ET
Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) is a stock that we’ve had a swing trade on since January and has been acting well. It has been consolidating the last eight weeks, and on Wednesday, it popped dramatically, up 71 cents, or 11%, to 7.14, on 2 million shares. That’s the biggest volume in five weeks. On a breakout day, I consider that exceptional. I’m looking for more upside. At this point, a retest of the highs are in order. I’m going to watch to see if it gets to 8.00. If it gets through that, targets are 9.00, and then 10.00.
CASI Pharmaceuticals, Inc. (NASDAQ:CASI) also had a good day on Wednesday, and popped 83 cents, or 11.6%, to 7.97, on 1.6 million shares out of the wedge that formed. That’s the biggest volume in four weeks. It got right up to resistance to the target I set at 8.25. The next target is 10.00.
Mirati Therapeutics, Inc. (NASDAQ:MRTX) is looking better. It popped above resistance on Wednesday, jumping 1.55, or 4.75%, to 34.20, on 418,542 shares traded, and closed there. Now I’m looking for a test of the 38.00 area. If it gets through there, we should see 44.00.
Teladoc, Inc. (NYSE:TDOC) had a great day on Wednesday, also popping out of a wedge, up another 2.75, or 6.44%, to 45.45, on 2.86 million shares. That’s the best volume since December. For me, this is a significant breakout day. I’m looking for 53 and 53 1/2 going forward. Longer-term, though, this could be a 70-dollar stock.
Stocks on the long side included Aqua Metals, Inc. (NASDAQ:AQMS), Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR), CASI Pharmaceuticals, Inc. (CASI), PolarityTE, Inc. (NASDAQ:COOL), Cray Inc. (NASDAQ:CRAY), California Resources Corporation (NYSE:CRC), Community Health Systems, Inc. (NYSE:CYH), Dicerna Pharmaceuticals, Inc. (DRNA), Eleven Biotherapeutics, Inc. (NASDAQ:EBIO), Enphase Energy, Inc. (NASDAQ:ENPH), Legacy Reserves LP (NASDAQ:LGCY), Mirati Therapeutics, Inc. (MRTX), uniQure N.V. (NASDAQ:QURE), Radware Ltd. (NASDAQ:RDWR), REGENXBIO Inc. (NASDAQ:RGNX), Shutterfly, Inc. (NASDAQ:SFLY), Teladoc, Inc. (NYSE:TDOC), Tandem Diabetes Care, Inc. (NASDAQ:TNDM), Travelzoo (NASDAQ:TZOO), Unisys Corporation (NYSE:UIS), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), and W&T Offshore, Inc. (NYSE:WTI).
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