MannKind Corporation, Hollis-Eden Pharmaceuticals, and Silicon Image are reviewed for trade-worthiness.
The market's drifting higher again as we work our way towards the end of the holiday-shortened week, though a handful of really great trading setups are still materializing. Take MannKind Corporation (NASDAQ:MNKD), Hollis-Eden Pharmaceuticals Inc. (NASDAQ:HEPH), and Silicon Image, Inc. (NASDAQ:SIMG) for instance... all three are on the cusp of fairly big moves, if not at the beginning of one already. Here's a better look.
Just like the way Silicon Image, Inc. (NASDAQ:SIMG) broke the barrier at $2.42 (as I described on December 7th) I think the stock's on the verge of breaking another ceiling. And as before, each milestone breakthrough sets up more upside. Look out above - $3.30 is in sight.
The chart says it all. Silicon Image, Inc. shares broke the $2.42 ceiling, and then moved to another narrow range between $2.42 and $2.50 over the last two weeks. The bears had their shot at pulling SIMG back down, but failed. Now, the stock's knocking on the door of a breakout by reaching $2.52 yesterday and today. I suspect the bears will fail the next time as well.
As such, Silicon Image is a short-term 'buy' in my book. I think a return to the August/September highs of $3.30 are a great starting target for SIMG.
Just like the way Silicon Image, Inc. (NASDAQ:SIMG) broke the barrier at $2.42 (as I described on December 7th) I think the stock's on the verge of breaking another ceiling. And as before, each milestone breakthrough sets up more upside. Look out above - $3.30 is in sight.
The chart says it all. Silicon Image, Inc. shares broke the $2.42 ceiling, and then moved to another narrow range between $2.42 and $2.50 over the last two weeks. The bears had their shot at pulling SIMG back down, but failed. Now, the stock's knocking on the door of a breakout by reaching $2.52 yesterday and today. I suspect the bears will fail the next time as well.
As such, Silicon Image is a short-term 'buy' in my book. I think a return to the August/September highs of $3.30 are a great starting target for SIMG.
f you were thinking about taking profits in the shadow of the big move from MannKind Corporation (NASDAQ:MNKD), you're not crazy - I think you should too. We're at a serious fork in the road, and pressing our trading luck.
I actually brought this up on the 16th, but it bears repeating now... $9.48 is a 61.8% Fibonacci retracement line of the September/October pullback, and as already hinted that it could be a trouble spot. MNKD ran into it yesterday, and is struggling with it as of today (in the form of a move lower).
Yes, a move above $9.48 would be bullish - possibly a setup that could carry MannKind Corporation shares back up to the prior peak of $12.30. So far though, the stock is losing that battle. A return trip to the previous Fib line of $7.85 appears to be what's more in store for MNKD. Let's trade 'em like we see 'em.
Hollis-Eden Pharmaceuticals Inc. (NASDAQ:HEPH) is a newcomer to my 'stocks of interest fold'. I bring it u today for the obvious reasons.... the 10% pop today shook things up in a significant way. Check it out...
The primary question we should all be asking of Hollis-Eden Pharmaceuticals shares right now is simple - do we believe in the breakout move, or not? I for one do. The falling resistance line that's been in pace for HEPH was snapped today with a high-volume breakout move. The chart below tells the story with just a glance.
Target-wise, I think a return trip to $0.77 is reasonable for Hollis-Eden Pharmaceuticals Inc. That's where the stock peaked in August and September, and it represents a very achievable objective trading price. Anything beyond that, and we're playing HEPH by ear.
I actually brought this up on the 16th, but it bears repeating now... $9.48 is a 61.8% Fibonacci retracement line of the September/October pullback, and as already hinted that it could be a trouble spot. MNKD ran into it yesterday, and is struggling with it as of today (in the form of a move lower).
Yes, a move above $9.48 would be bullish - possibly a setup that could carry MannKind Corporation shares back up to the prior peak of $12.30. So far though, the stock is losing that battle. A return trip to the previous Fib line of $7.85 appears to be what's more in store for MNKD. Let's trade 'em like we see 'em.
Hollis-Eden Pharmaceuticals Inc. (NASDAQ:HEPH) is a newcomer to my 'stocks of interest fold'. I bring it u today for the obvious reasons.... the 10% pop today shook things up in a significant way. Check it out...
The primary question we should all be asking of Hollis-Eden Pharmaceuticals shares right now is simple - do we believe in the breakout move, or not? I for one do. The falling resistance line that's been in pace for HEPH was snapped today with a high-volume breakout move. The chart below tells the story with just a glance.
Target-wise, I think a return trip to $0.77 is reasonable for Hollis-Eden Pharmaceuticals Inc. That's where the stock peaked in August and September, and it represents a very achievable objective trading price. Anything beyond that, and we're playing HEPH by ear.
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