Home ยป Biotech and Technology Stocks To Watch Amid A Sector Breakout And More

biotech technology stocks

Biotech and Technology Stocks To Watch Amid A Sector Breakout And More

Subscribe to The Free Market Chronicle and join the 2,739 subscribers getting it for FREE!

[widget id=”text-23″]

Biotech and Technology Stocks To Watch Amid A Sector Breakout And More

The stock market has felt like it has gone nowhere, and seems to have lost its sense of direction. It feels as though a tweet can send the market reeling lower, or soaringย higher. But with all the ups and down, the S&P 500 stands today at the same place it stood on February 16, around 2,735 give or take a few points on either side. It has certainly felt more exhausting.

[widget id=”text-19″]

[widget id=”text-16″]

Let Michael help you! Have questions? Let Michael help you find the answer. Sign-up and get two weeks free: Watch the latest video:ย Roku Borrow Rate Surge, Biotech Fakeout?

Biotech Stocks

The biotech’s today performed better than I had anticipated, with the NASDAQ Biotech ETF ($IBB) closing at $112.62. The chart shows a hint of testing support at $111.50 on twoย occasions during the day, and it held. A positive for sure, and it makes today’s price action look more like a breakout now.

When looking at the breakdown of the ETF, the buying was well-distributed among the group. Nektar led the group higher; it figures Nektar would, I wrote an article the other day, saying it was due for a pullback.

biotech

[widget id=”text-22″]

Nektar

Nektar has all the signs of a stock looking like it was set to pullback, an RSI trending lower, while the stock is reaching new highs and waning volume. But to this point, the market has decided to prove me wrong.

nektar

[widget id=”text-21″]

Alnylam

Alnylam, despite rising today, still looks weak on the charts. The stock is trending lower, along with the RSI trending lower.

anlyam

[widget id=”wordads_sidebar_widget-41″]

Incyte

Incyte looks like one that is on the verge ofย breaking out and should itย rise above $93; it would signal a breakout, giving the stock the potential to increase to $102.

incyte

[widget id=”text-23″]

Alkermes

I have owned Alkermes for years, and suddenly the stock is starting to show signs of life, with a bit more volatility. I’m not sure how much of Alkermes’ rise has to do with the connection the market has given it to Nektar, because of their immuno-oncology drug candidates,ย  or if it has to do with the government focus on the opioidย crisis. Alkermes makes Vivitrol, an injectable 30-day drug for opiateย addiction. Vivitrol has a tiny market share that has been steadily growing. But Alkermes also has a lot on its plate in 2018 from its pipeline, with its depression candidate ‘5461 and a pending FDA approval. Head to head trial result on what was ALKS ‘8700 vs. Tecfidera in MS. ALKS ‘8700 was recently renamedย after Alkermes signed a licensing deal with Biogen. Plus data on ALKS ‘3831 a drug for schizophrenia. With all these catalystsย its is hard to decide what is driving priceย now, but my gut says the connection is with Nektar still.

alkmeres

[widget id=”wordads_sidebar_widget-41″]

Technology

The Technology ETF ($XLK) closed at $69.25, and it is nearing a breakout as well, which would be nice, even though I recently wrote a pieceย warning of a potential double top formation. It is nice being wrong twice for sure, but hey I’m not perfect either.

technology

Activision

Activisionย continues to climb, and there has been very little that has seemed to slow the stock down since the start of the new year. In this case, it looks as though the trend is your friend.

activision

[widget id=”text-21″]

Nvidia

A name we haven’t mentioned in a while Nvidia has stalled since its quarterly results, which is surprising. But the chart has this negative look to it with that downtrend that has formed in recent weeks. It may be worth watching Nvidia, and seeing how it continues to trend before making a call on it.

nvidia

[widget id=”wordads_sidebar_widget-41″]

Costco

Did you notice Costco’s results? The part I’m most interested in is the e-commerce growth. I have personally never liked shopping in Costco, especially where I live in Long Island, it is crazy in the store, and the parking lots is a disaster, with people fighting over spots. But I have started using their e-commerce product a bit. Now with Costco groceries through Instacart, I have become a big fan of Costco, because I can all the good deals without having to step foot in the store.

In the quarter Costco reported e-commerce sales of about $1.5 billion, which isn’t much, I know, but it was still 4.8 percent of total revenue, which came to $32.998 billion. The Instacart part of the business is new, so I would love to see what the growth is next quarter in this part of the company.

By the way, this was the Costco where I live at checkout on a Sunday morning at 11 am, back in December.

costco

Instacart

By the way, Instacart isn’t a public company, but if you go to the website Instacart.com, you can see what storesย are associated with Instacart in your neighborhood, I like the service a lot. A personal shopper goes to the store to pick up your items that your order online, and through the app, you can chat with them, and they will send you pictures of the items, or let you know if the store is out of an item, and the replacement options. Very cool.

Ok, that is all, until tomorrow.

[widget id=”wordads_sidebar_widget-41″]

[widget id=”text-22″]

Mott Capital’s Reading The Markets –ย An In-depth Global Macro Stock Market Commentaryย –ย In Video Format – See How Michael Dissects The Markets

Just $200 Per Year – Get Your Free 2 Week Trial

Recent Videos:

Roku Borrow Rate Surge, Biotech Fakeout?

Tech And Biotech Look Weak, Plus Subscriber Mailbag

What The Heck Happened

Breaking Down Acadia’s Results, Exploring Trends In Chips Stocks

Stocks In Rally Mode, More To Come

Crazy Market Reaction Following Fed Minutes, Plus Subscriber Mail Bag

Subscriber Mailbag, Plus Market Rundown

Free Articles Written By Mike:

Why Bank Stocks Are Ready for a Short-Term Pullback

3 Under The Radar Stocks That Could Soar 30%

Why Home Depot May Plunge 20% Off Its Highs

Why Biotech Stocks Face Steep Declines Ahead

Netflix Stock Is Poised For An 11% Plunge

Why Salesforce’s Record Stock Gains May Not Last

4 Red Flags For Technology Stocks

Biotech Stock Nektar May Be Ripe For A Sharp Pullback

Macy’s May Fall 18% as Option Traders Turn Bears

Micron May Rise 12% As Analysts Grow More Bullish

Why Amazon’s Stock May Continue To Outperform Alibaba’s

AMD May Fall 17% as Bearish Option Volume Soars

Join our 2,739 Daily Subscribers And Get This Commentary In Your E-Mail! Subscribe

-OR-

[vc_tweetmeme type=”follow” follow_user=”michaelmottcm” show_followers_count=”true” large_button=”true”]

Photo credit via Flickr

Michael Kramer and the clients of Mott Capital own shares of ALKS

Mott Capital Management, LLCย is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein.ย Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future.

ยฉ 2018 Mott Capital Management, LLC.ย  Use, publication or reproduction in any media prohibited without the permission of the copyright holder.

Tags: #sp500 #incyte #nektar #bitoech #technology #stocks #alkermes #costco #instacart #anlylam #nektar #incyte #nvidiaย