Biotech Stocks On the Move

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Even with no news, shares of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) have been doing very well recently, rising from $1.23 cents in October to $1.90 today, a 60% plus gain in three months. Let's take a detail look at the stock and see if the stock is worth buying. The technical chart above shows the stock is on a bull market as the stock is trading above both 50-day and 200-day MA and 50-day MA is on top of 200-day MA heading upwards. Other technical indicator such as MACD, is above "0" showing positive momentum while KD line also show buy signal as %K line is on top of %D line. Today’s high was $1.94, which is resistance for the follow through move on Tuesday. If the stock does break resistance, expect to see another strong upside move. I like the stock as long as it remains above $1.60.

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Zalicus, Inc. (NASDAQ:ZLCS) had a large volume and large spread on Monday after the company announced the initiation of a Phase 1 clinical trial evaluating the pharmacokinetics and safety of a new formulation of Z160 (formerly NMED-160), a oral N-type calcium channel blocker. Z160 has been reformulated with multiple delivery techniques to address previous solubility and bioavailability issues . At this point, I could not see any formation in the chart, at the very least, it could have broken out of a downtrend with a target price of above $1.54. Currently the stock has already reached 1.16 so this means a lot are still hoping for ZLCS to move higher. Larger volume on the upward movement means you should buy this stock. In addition, the MACD is displaying a new bullish crossover. At the same time, we see that the daily stochastics are showing positive momentum from oversold levels, which should reinforce a move higher if near-term resistance at $1.19 is taken out. The near-term upside objective is at $1.54.

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Affymax, Inc. (NASDAQ:AFFY) traded higher on Monday, after U.S. regulators said the company’s experimental anemia medicine works as well as drugs sold by Amgen Inc. (AMGN) and Johnson & Johnson (JNJ) for patients with chronic kidney disease. The stock hit a high of $6.59 on the day, which is resistance for Tuesday’s continuation move. If the stock can break through this level, I expect to see a strong upside move.

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Bullish moves on the stock are taking place over the last session’s. The stock hit a new 52-week high of $10.79, which is now resistance for tuesday’s continuation move. If the stock can break through resistance, we should see another strong upside move. VIVUS, Inc. (NASDAQ:VVUS) will move very quickly, so watch the stock closely on tuesday.

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Other stocks to watch :

New 52-week High stocks

HD - HOME DEPOT INC
KOG - KODIAK OIL & GAS CP
KFT - KRAFT FOODS INC
MCD - MCDONALDS CORP
TLEO - TALEO CORPORATION
IBM - INTERNATIONAL BUSINESS
M - FEDERATED DEPARTMENT
DG - Dollar General Corp
PM - Philip Morris International
SO - SOUTHERN CO
AMT - AMERICAN TOWER CORP
GIS - GENERAL MILLS INCORPORATION
PRGO - Perrigo Company
FAST - Fastenal Company
TJX - TJX COMPANIES INC
NI - NISOURCE INC
ITC - ITC HOLDINGS CORP
FTI - FMC Technologies Inc.
HUM - HUMANA INC
OCR - OMNICARE INC
SE - SPECTRA ENERGY CORP
N - Netsuite Inc
SPPI - Spectrum Pharmaceutical
MELI - MercadoLibre Inc
AKRX - Akorn, Inc.

VRSK - Verisk Analytics
DLTR - Dollar Tree Inc
ORLY - O'Reilly Automotive
PETM - PETsMART, Inc.
ULTI - The Ultimate Software
EPD - ENTERPRISE PRODUCTS
ROST - Ross Stores, Inc.
AWK - American Water Work
GPC - GENUINE PARTS CO
PAA - PLAINS ALL AMERICAN
STAA - STAAR Surgical Company
ADS - Alliance Data System
GRMN - Garmin Ltd
SCG - SCANA CORP
OII - OCEANEERING INTL INC
ACG - ALLIANCBERNST FUND
BGS - B&G Foods Inc
ARG - AIRGAS INC
CVLT - CommVault Systems Inc

US Earnings Calendar for Tuesday, December 6

Aerovironment Inc - AVAV
AMREP Corp - AXR
Autozone Inc - AZO
Biodel Inc - BIOD
Casey's General Stores Inc - CASY
Comverse Technology Inc - CMVT
Diamond Foods Inc - DMND
EasyLink Services International Corp - ESIC
General Employment Enterprises Inc - JOB
Harbinger Group Inc - HRG
Hooker Furniture Corp - HOFT
Landauer Inc - LDR
Liquidity Services Inc - LQDT
Men's Wearhouse Inc - MW
Mitcham Industries Inc - MIND
NCI Building Systems Inc - NCS
Northwest Pipe Co - NWPX
Oxford Industries Inc - OXM
Powell Industries Inc - POWL
Resource America Inc - REXI
Rosetta Genomics Ltd - ROSG
Saic Inc - SAI
Streamline Health Solutions Inc - STRM
Toll Brothers Inc - TOL
Toro Co - TTC
Vera Bradley Inc - VRA
Vitesse Semiconductor Corp - VTSS
WSP Holdings Ltd - WH

MACD Bullish Cross

SFSF - SuccessFactors Inc
MSFT - Microsoft Corporation
CSCO - Cisco Systems, Inc
GILD - Gilead Sciences, Inc
SPLS - Staples, Inc.
KEY - KEYCORP
GM - General Motors Corp
WFT - Weatherford International
WMT - Wal-Mart Stores Inc
RFMD - RF Micro Devices, Inc.
EBAY - eBay Inc
BK - Bank Ny Mellon
TXN - TEXAS INSTRUMENTS INC
VLO - VALERO ENERGY CORP NEW
BP - BP AMOCO ADS
AKS - A K STEEL HOLDING CORP
PBR.A - PETROLEO BRASILEIRO
CSX - C S X CORP
CPST - Capstone Turbine Co
AMZN - Amazon.com, Inc.
SNDK - SanDisk Corporation
TLEO - TALEO CORPORATION

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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Labels: AAFY, ARNA, VVUS, ZLCS