4 Stocks Breaking Good: CBAY, SMTC, VKTX, XNCR
Harry Boxer | Jun 01, 2018 12:01AM ET
Cymabay Therapeu (NASDAQ:CBAY) is another biotech with an inverse head-and-shoulders breakout on Thursday with a breakaway gap, jumping 1.49, or 13%, to 12.97, on 2.9 million shares. It didn’t close well, because it got up to resistance at the declining topline and lateral price resistance and backed off. Thursday’s high at 14 is the area we will be watching. If it gets through 14, we may see a run to 15 1/2, and at one point, it may really take off to 15.59-.60 zone, and then the high teens, maybe even low-to-mid 20’s.
Semtech Corporation (NASDAQ:SMTC) had a big breakout day on Thursday, popping 3.10, or 6.8%, to 48.40, on 1.4 million shares. The top of the channel is beckoning a move towards 54-55, potentially on its way.
Viking Therapeutics Inc (NASDAQ:VKTX) had a huge day on Thursday as Madrigal’s news spilled over to Viking. It gapped and ran 5.02, or 101%, to 9.99, on 57.4 million shares. That’s more volume than it traded all year so far. Sometimes you see a breakaway gap like that when it closes near the upper end of the range on high volume that leads to a lot more. I wouldn’t be shocked if it made it to the mid-teens over the next week or two.
Xencor Inc (NASDAQ:XNCR) pulled back over the last couple to three days, traded as low as 35.14 on Thursday morning, and then got to the prior high and snapped back 1.87, or 4.9%, to 40.01, on 263,550 shares traded with a major-engulfing reversal bar, finishing at the high for the day going away. I would be shocked if this didn’t make it to the mid-40’s very soon.
Stocks on the long side included Applied Optoelectronics (NASDAQ:AAOI), Alder Biopharmaceuticals, Inc. (ALDR), AxoGen, Inc. (AXGN), Boxlight Corp Class A (NASDAQ:BOXL), CymaBay Therapeutics, Inc. (CBAY), Ceragon Networks Ltd. (CRNT), Emisphere Technologies, Inc. (EMIS), Exact Sciences Corporation (EXAS), Fiat Chrysler Automobiles N.V. (FCAU), Intelsat S.A. (I), ImmunoGen, Inc. (IMGN), Kopin Corporation (KOPN), Direxion Daily S&P Biotech Bull 3X ETF (LABU), Loxo Oncology, Inc. (LOXO), Madrigal Pharmaceuticals Inc (NASDAQ:MDGL), Momo Inc. (MOMO), Sunrun Inc. (RUN), Sailpoint Technologies Holdings Inc (NYSE:SAIL), Semtech Corporation (SMTC), Tilly's, Inc. (TLYS), Viking Therapeutics, Inc. (VKTX), Intersect ENT, Inc. (XENT), and Xencor, Inc. (XNCR).
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