( click to enlarge )I posted Arena Pharmaceuticals, Inc.(NASDAQ:ARNA) for my readers and twice for my twitter followers. Today the stock rose more than 73% hitting a high of $7.01 closing at $6.36 with 74 Million of shares changing hands. Congratulations to those locking in some profits. Truly some amazing profit potential if you had purchased when it was published in my blog on Tuesday ( Here is my blog post ) That is what this blog is all about. I do think ARNA can continue to surge but it never hurts to take some profits off the table.
( click to enlarge )XenoPort, Inc.(NASDAQ:XNPT) exploded higher today after a brief pull back. The stock soared to $5.25 and closed right near the highs of the day. If I had to guess I think 30-50% or better from here is a distinct possibility. In addition, there is a large short position in this stock ( 13 days to cover ). Target price is at 6.5. This stock should be closely watched next week.
( click to enlarge )The rally paused today and Cell Therapeutics Inc (NASDAQ:CTIC) slipped 4%. The bulls are still facing a strong resistance at the 200 dma at $1.17 but I suspect the stock is about to break out higher. From a technical standpoint the MACD Histogram and stochastic oscillator have turned up and RSI is again moving upward. Right now, I'd be avoiding Cell Therapeutics until it closes above $1.17
( click to enlarge )Shares of FormFactor, Inc. (NASDAQ:FORM) had a nice surge a few days ago and has been consolidating that move since then. Very nice setup $6.75 the next resistance. Looking at the technical chart we can see some positive technical signals, bullish MACD crossover, rising RSI line and a strong volume accumulation. It looks like the accumumation indicator on the chart was not lying and it appears that many of the shares that were traded earlier this month are in hands of investors who are not willing to sell them at these prices. For next let's see if FORM continues to gain momentum. A move above $6.34 would confirm that the stock has commenced the next phase of an upward move. Stay tuned.
( click to enlarge )Orexigen Therapeutics, Inc. (NASDAQ:OREX) a big day for this stock. I would really like to see some follow through next week. If it does not blast out of the gates a buy on the pull back could provide for a profitable trade.
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Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.
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AC
