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Long Swing Picks After the Memorial Day Weekend: Isis, Tibco, More

NEW YORK (TheStreet) -- Good morning traders!

Today's picks are Isis Pharmaceuticals (ISIS), the Medicines Company (MDCO - Get Report) and Tibco Software (TIBX).

1. First, let's look at Isis Pharmaceuticals, which is engaged in the discovery and development of "antisense" drugs. The company's flagship product is the Kynamro injection, an apo-B synthesis inhibitor for patients with homozygous familial hypercholesterolemia and for the reduction of low-density lipoprotein cholesterol. Isis also has a pipeline of 31 drugs in development for the treatment of various diseases, including cardiovascular and metabolic diseases as well as severe and rare diseases, including neurological disorders and cancer.

Isis had a huge day on Friday, trading up 11.46% to $27.81 per share. The stock opened higher Tuesday, and was up nearly 8% at $30 as of 10:30 a.m.

  • Friday's Range: $25.82 - $27.92
  • 52-week range: $20.41 - $62.66
  • Friday's volume: 4,585,923
  • 3-month average volume: 2,568,050

Isis looks good from a technical standpoint, as it closed over the 20-day simple moving average for the first time since March. Yet Isis has been having trouble recently, and is down over 50% from its 52-week high that it reached on February 24.

The chart has formed a bullish signal known as a double bottom, and has reached the breakout level. Plus, trading volume has increased over the last 5 trading days, which shows positive investor sentiment.

Watch for increased interest in Isis on Tuesday, and continued trading over the 20. A good entry is anywhere between $25.46 and Friday's close of $27.81. Since Isis is in a downtrend, I'd set my stop tight, as you can always get back in if the trade is working in your favor. I'd set my stop below the t-line, which is at $25.25.

There is overhead resistance at $31.78, then again at the 34-day exponential moving average at $33.99. I'd set my first target just below the 34 EMA at, say, $33.00, which is 18% to the upside. My next target would be the 200-day simple moving average, 35% to the upside.

Stay long until you see a confirmed sell signal or a confirmed close below the t-line.

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TIBX $24.03 0.00%
ISIS $40.40 -1.39%
MDCO $35.62 0.08%
AAPL $93.64 -0.11%
FB $118.57 0.84%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

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