Celldex Therapeutics, Inc.
(NASDAQ:CLDX) which has been building momentum since late-October, broke
out of its bullish consolidation on massive volume on news that its
Rintega brain cancer vaccine reduced the risk of death from the disease
by 47 percent in a 73 patient randomized study. Plus, the survival rate
at 2 years was 25% for patients given the vaccine versus none in the
control group, so I was motivated to buy more shares. This move broke
the stock out of a triple top resistance zone that contained the upmove
since August. From a technical standpoint daily technical indicators are
looking bullish. The MACD is above its signal line and is moving up in
positive territory. CMF is also positive and RSI has moved above its 60%
level. On longer-term daily chart, the stock is trading below its
100-day and 200-day EMAs but well above its rising 50-day EMA. The
short-term bull market is intact, despite being in a bear market in the
medium-term. I think the stock next week can easily re-visit its 200-day
EMA at $18.48, if not higher. Based on Friday's news, I expect upgrades
coming soon.
Ambarella Inc (NASDAQ:AMBA) traded nicely on Friday and I’m looking for continuation of the upward direction next week. The stock is a short squeeze candidate, with a short float at 43% equivalent to 6 days of average volume. From a technical standpoint, the daily technical chart shows that the stock is in a rally as %K line is rising on top of %D line as the price is back above the short-term EMAs and with a positive MACD action. The RSI is also rising along with the rise in volumes indicates buying interest in the stock. At the same time, price broke out of downtrend line which goes back to the September top. Can get interesting. Keep close eye on this one for a major rally to the upside.
Google Inc (NASDAQ:GOOGL) has a bullish looking chart. Price broke out to a new all-time high Friday, accompanied by a good volume suggesting higher levels.The stock has been in a nice uptrend for the last two months and it looks very strong with both 50-day and 200-day exp moving averages going up while %K line is on top of %D line. Long setup.
