4 Stocks To Watch: IMGN, OMER, SLCA, VRTV
Harry Boxer | Jun 15, 2017 01:02AM ET
Swing trade ImmunoGen, Inc. (NASDAQ:IMGN) made a 3-wave corrective move, and was up a little today, popping just 7 cents, or 1.5%, to 4.71, on 2.2 million shares traded. If it gets up through the declining topsline with volume, it should test the May high around 5.50-.55, then 7.00, and 9 1/2.
Omeros Corporation (NASDAQ:OMER) had a big follow-through on Wednesday, jumping 2.39, or 12.2%, to 21.97, on 3.33 million shares traded. I put a swing trade on it just when it broke out. In two days, it literally went from 17 1/2 to 22, almost 5 points. That was a fantastic move, but now it’s at the top of the channel. It may pull back and consolidate, but if it gets a follow-through, it may go higher. The next target is 25. Short position is 16. It has 24 days to cover .
Stocks on the Short Side.…
U.S. Silica Holdings, Inc. (NYSE:SLCA) is another one of those fractured stocks with key support at about the 34.62 level with a triple bottom. On Wednesday, it was down 2.62, or 7%, to 34.62, on 4.5 million shares traded. If it breaks support, it may very well see 30 1/2.
Veritiv Corporation (NYSE:VRTV), one of our swing shorts, rolled over, and broke out of a wedge on Wednesday, dropping another 1.20, or 2.7%, to 42.65, on 123,537 shares traded. To me, it’s going down to 39 pretty quickly. Ultimately, the targets are 44-5.
On the long side, stocks included Carvana Co. (NYSE:CVNA), Epizyme, Inc. (NASDAQ:EPZM), The Home Depot, Inc. (NYSE:HD), Health Insurance Innovations, Inc. (NASDAQ:HIIQ), ImmunoGen, Inc. (IMGN), Direxion Daily S&P Biotech Bull 3X ETF (NYSE:LABU), Lennar Corporation (NYSE:LEN), New Age Beverages Corporation (NASDAQ:NBEV), NeuroDerm Ltd. (NASDAQ:NDRM), Omeros Corporation (OMER), and SolarEdge Technologies, Inc. (NASDAQ:SEDG).
On the short side, stocks included Aspen Technology, Inc. (NASDAQ:AZPN), Finisar Corp. (NASDAQ:FNSR), Hi-Crush Partners LP (NYSE:HCLP), Inphi Corporation (NYSE:IPHI), KMG Chemicals, Inc. (NYSE:KMG), U.S. Silica Holdings, Inc. (NYSE:SLCA), Targa Resources Corp. (NYSE:TRGP), United Rentals, Inc. (NYSE:URI), Veritiv Corporation (NYSE:VRTV), and Cimarex Energy Co. (NYSE:XEC).
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