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4 Charts for Navigating Murky Markets

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With the market’s direction murky, stock selection becomes increasingly important.  Here are four stocks to watch, two on the long side and two short.
Calithera Biosciences, Inc. (CALA) closed up $1.85, or nearly 12%, at $17.60 on 1.5 million shares traded Wednesday. Price broke out of a consolidation starting on Monday, tagged $17.90, and then closed at $17.60. The stock is among the top-gaining biotechs of 2017 so far, up over 300% since January 1, aided by news of clinical partnerships with Incyte and Bristol-Myers Squibb for the company’s cancer drugs. Given the present strong upward momentum, price could reach $21 and may travel up into the mid $20s.
It was a strong day for Hudson Technologies Inc. (HDSN) on Wednesday. Price popped 31 cents, or 3.6%, to $8.88, on 1.1 million shares traded. That is the highest this stock has closed in 20 years. Price has been on the move up since the refrigerant services company announced on June 26 that it had been added to the Russell 3000 and Russell 2000 Indices. It has been up three days in a row now on heavy volume, with huge monthly volume observable across the past year. The stock is up at resistance, but could move into the $11-$12 area if it clears that level.

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