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5 "Tells" that the Stock Markets Are About to Reverse

4 Biotech Stock Movers to Watch

Companies / BioTech May 03, 2018 - 11:04 AM GMT

By: Harry_Boxer

Companies

Biotechs continue to dominate our list of top charts to watch.

CASI Pharmaceuticals Inc. (CASI) rose 48 cents, or 7.2%, to $7.14 on 773,700 shares Tuesday. The move came on no news, although the stock soared in early April on news that China's Food and Drug Administration (CFDA) would convene a panel to discuss its cancer therapy, Evomela. The stock has been flagging since that move, but may be positioning to break out, with the next target at $10.


Heron Therapeutics, Inc. (HRTX) had a strong session Tuesday, up $1.25 to $31.55, although volume was a bit lower than average at 978,100 shares traded. The move came on no news from the biotech company, which in March announced positive clinical trials for its post-surgical pain drug. The stock has been consolidating since its surge on that news, and may be on the verge of a breakout. Next target is $36.

Immunomedics, Inc. (IMMU) leaped 83 cents to $19.04 on Tuesday, following up on Monday's 7.7% advance. The clinical-stage biopharma company announced today it will host a conference call to discuss its third-quarter financial results on May 9. The stock been steadily advancing since late 2016 in a beautiful parallel channel, though this year has been in a sideways pattern within that up-channel. It is now pushing against lateral resistance, a break through which could lead to $23.

Mirati Therapeutics, Inc. (MRTX) jumped $1.85 to $32.65 on lighter-than-normal volume of 366,800 shares Tuesday. Last week the company announced positive clinical trials data for its lung cancer therapies. After a surge from under $5 in September to $35 in March, the stock has been consolidating nicely. A move above $33.50 could position the stock to retest $37.

See Harry's video chart analysis on these stocks.

No holdings.

Harry

Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.

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