4 Breakout Stocks to Watch Going Into Labor Day

NEW YORK (TheStreet) -- A lot of stocks we follow closely are doing very well, and here are four to watch for continued upside.

Arista Networks  (ANET) did very well on Wednesday. It exploded from just under $76, ran up to $83.47, and closed at $83.15, up $6.99, or 9.2%, on 724,200 shares traded. That's a lot of volume for that stock, and the best volume in about two-and-a-half weeks. With the breakout across lateral resistance at recent highs, this stock could head up towards $92-$93 in the short term. At around $82.50, shares are up nearly 50% for the year to date.

BioDelivery Sciences International (BDSI) , one of our swing trade picks, is also acting well. It popped 5% on Wednesday, up 82 cents to $15.48, breaking through lateral resistance and the double-top that's been holding it back since July. The target is $19 and then $21. At close to $16, the stock is up 169% for the year to date.

Keryx Biopharmaceuticals  (KERX) appears to be breaking out. Intermediate resistance in the $18 range was taken out on Wednesday, as the stock gained 95 cents, or 5.5%, to $18.18. Watch for a move next to the $20 range short-term, and then secondary target at $22-$22.50. Shares are currently around $18, up 39% for the year to date.

Sunesis Pharmaceuticals  (SNSS) popped on Wednesday, up 74 cents, or about 10%, to $8.23 on 5.2 million shares. That's the biggest volume since the beginning of the year, and comes on a breakout day when it moved across resistance going back to late 2012. At this point, look for SNSS to run to $12 and then potentially to $15. Shares, at close to $8, are up nearly 65% year to date.

See Harry's video chart analysis on these stocks.

At the time of publication, the author held no positions in any of the stocks mentioned, although positions may change at any time.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.


TheStreet Ratings team rates KERYX BIOPHARMACEUTICALS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate KERYX BIOPHARMACEUTICALS INC (KERX) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and poor profit margins."

You can view the full analysis from the report here: KERX Ratings Report

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