Happy Saturday, traders. It’s Bryce here.
How about that turnaround in the stock market yesterday? The three major stock indexes all had intraday dip and rips and closed up around 1%.
Looks like traders were in the mood to celebrate the holiday weekend. Let’s hope the enthusiasm lasts throughout the third quarter. Heck, or for the rest of the year.
Yeah … I’ve been accused of being super optimistic before.
I think that’s a good thing though. Speaking of which, it’s time to take a look at some tickers that make me excited to come back from the holiday weekend.
Blue Hat Interactv Entrtnmnt Technlgy (NASDAQ: BHAT)
BHAT is a small entertainment company from China that suffered a recent drop after announcing a public offering … and then swinging back up after canceling said offering.
Nice bait and switch. These days, traders go after what they’re comfortable with, and that’s the multi-day runners.
They’ve seen it run up before and they’re eager to make it happen again. I told you on Thursday to get excited for a break above $2.00. It closed at $2.85.
On Friday, it closed at $3.01, right at a previous resistance level. So what’s next? If you see momentum and volume on this one, you could ride it up to $4. But the better scenario would be to wait for a convincing break past $5!
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Clovis Oncology Inc. (NASDAQ: CLVS)
CLVS is a former runner that broke out again on Friday. It closed at $2.85, up 58.33% on the day, near a key resistance level of $3.00.
There’s a news catalyst in the mix. Clovis is holding its annual shareholders’ meeting next Friday, July 7. Shareholders will vote on two major proposals.
I’m looking for the anticipation to continue into next week. A break above $3.00 could send it up to the next resistance level at $4.00. After that, it’s $5.00 and $6.00 for possible high targets.
Omeros Corporation (NASDAQ: OMER)
OMER hit a homer on Friday. The stock closed at $4.64, up 68.73% on the day. This is a strong breakout past its late April resistance level of $4.33.
I couldn’t find any news on it, but honestly, biotechs with no news have been running lately. That was the case when I traded Revelation Biosciences Inc. (NASDAQ: REVB) last week.
I also watched it happen to Ensysce Biosciences Inc. (NASDAQ: ENSC). I mentioned that phenomenon on Thursday as well.
On Tuesday, look for OMER to make a clean break over $5.00. That could send it to $6.00 and even possibly $7.00.
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