Author Archives: TheTechTrader

Four Trending Stocks to Watch

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Medidata Solutions, Inc. (MDSO) climbed to a new all-time high of $73.15 on Monday, closing the session up $2.08, or 3%, to $72.76, on 455,600 shares traded. The cloud technology stock has been stair-stepping up a rising channel over the last few months and has popped $4.57 since Wednesday’s close. The next target is near the channel top at around $79-$80. Short interest of 7.9 times its average volume could fuel the move as shorts cover on a rally.

Mimecast Limited (MIME) popped another $1.10, or 4.25%, to $27.00, on 388,800 shares traded. The advance up came as the email security company’s CEO and CFO spoke at J.P. Morgan’s technology conference in Boston. Despite no dramatic increase in volume, the stock’s technicals look positive, climbing steadily since early March and holding support on the pullbacks. Watch for price to exceed last week’s all-time high of $27.25 to reach $30-31 in the short term.

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Biotechs Breaking Out

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By Harry Boxer
Here are four biotech stocks breaking out on positive developments related to their drugs.
bluebird bio, Inc. (BLUE) has popped about 20 points in a week to Wednesday’s close of $92.80.  On Wednesday alone, it rose $5.15 on over 1 million shares traded, closing just a dime off the high. The company announced publication of a case study on the first patient with severe sickle cell disease treated with its gene therapy product.  The stock has far surpassed our initial target of $85 and is closing in on the next target of $95. There’s a possibility it may run up to the $106-7 range, last reached in October 2015, which is the new, near-term target. Short interest of 12.9 times its average volume could fuel the move as shorts cover on an advance.
Esperion Therapeutics, Inc. (ESPR) followed through for another $4.23 to $30.44 Wednesday on 2.2 million shares.  Just a month ago, the stock was under $11, but investors appear to be hopeful that the biotech company’s lead drug for treating high cholesterol is more likely to win approval under President Trump.  The stock is a little long in the tooth short-term and may need to rest and pullback before its next move.  However, after the stock dropped from a high of nearly $119 in March 2015 to under $10 in late June 2016, it based for 7 months, and has now broken well out of that base and is looking higher.

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