Big day for semiconductors today (SMH). Some of the big names had big moves. The market itself was strong then a severe sell off with a mixed finish.
BLFS: Stock had a key break out last July when it broke out above its base at $2.50. From there it has been in a strong up trending channel. Over the last month it has been consolidating forming a wedge pattern. Today, at the apex of the wedge and at the lower edge of the up trending channel line it broke out to the up side trading through lateral resistance at $5.00. It traded as high as $5.29 closing right at the top of its range. If the momentum continues tomorrow$6.00 would be the target.
COHU: Nice winner from my watch list last night, up $3.00 from my entry level. Today it broke through lateral resistance and traded as high as $23.50 closing at $23.27. I would look to go long over today's high with some resistance at $24.00 but more likely $28.00.
GLYC: After spiking up to $17.00 back in May, the stock retraced and consolidated. Today it broke out of that base through lateral resistance at $13.00. It traded as high as $14.48 closing at $13.97 (just under resistance at $14.00. It needs to get through $14.00 with volume. If so then $17.00 is the target. Short ratio, 9.4 days to cover so could add some momentum to the trade.
HALO: Another nice winner from my watch list last night. On Thursday the stock gapped up sharply and had follow through on Friday. Today the momentum continued and the stock traded as high as $17.55 before closing at $16.72. There is overhead resistance at $18.00 so the stock may need to consolidate before trading higher. But if the short squeeze is on then $18.00 and $19.00 are the targets. Short ratio 27.3 days to cover.
PGNX: Stock popped out through the declining tops line today trading as high as $7.35 closing at $7.10. Through today's high and price targets are $7.75 and $8.25. Short ratio, 6.2 days to cover.
RXDX: Stock is in an up trending channel and traded up to lateral resistance at $2.40 today closing at $12.25. I would look to go long over $12.40 with $15.00 as the price target. Short ratio, 4.4 days to cover.
UCTT: Semiconductor stock broke through a double top today trading up as high as $28.77 before closing at $27.79. $31.00 is the price target.
VCEL: Stock popped today out of a wedge pattern breaking through lateral resistance and trading to the top of its up trending channel. It traded as high as $4.95 closing at $4.85. $6.50 is the price target.