Hot Stocks to Keep on Your Radar Screen Next week
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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.
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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.
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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
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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.
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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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Labels: ARNA, CTIC, FORM, OREX, XNPT
