4 Stocks Moving on Both News & Technicals
Trade ideas from Harry Boxer include AKBA, AKAO, MLCO, QRVO. He is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.
Akebia Therapeutics, Inc. (AKBA) had a big day on Tuesday (May 16), popping $2.11, or 16%, to $15.01, on 6.6 million shares traded. That’s nearly 8 times its average volume. The move came on news that Vifor Pharma will make a $50 million investment in Akebia as part of a partnership agreement. If price holds Tuesday’s intraday low of $14.68 and starts to move up again, it could accelerate into the $17-$19 range.
Achaogen, Inc. (AKAO) rose on Tuesday by $1.56, or 7%, to $25.33, on 526,500 shares traded on no news. Stock in the biopharmaceutical has been consolidating since mid-March. If the stock begins to see a breakout of the $26-$27.75 range on stronger volume, price could climb towards the channel top in the high $30s. Short interest of 6.4 times its average volume could fuel the move as shorts cover on a rally.
Melco Resorts & Entertainment L (MLCO) rose by 53 cents, or 2.39%, to $22.68, on 10.3 million shares traded, reaching $22.94 intraday.
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