NEW YORK (TheStreet) -- A lot of stocks we follow are continuing their up-moves after a brief market swoon.
Anthera Pharmaceuticals (ANTH) is acting well after breaking out of its falling wedge last week. The stock popped to resistance on Monday and again on Wednesday, up 62 cents, or 6.1%, to $10.77 on no news. Volume was a solid 1.6 million. It looks like it wants to go further, and targets are $14 and then the channel top near $18.50.
Check Point Software Technologies (CHKP - Get Report) had a big day on Wednesday, up $5.49 or 7%, to $84.23, after reporting earnings that topped Wall Street estimates. The move came on 5.7 million shares, the biggest volume all year, breaking the stock of the Internet security provider out of its declining tops line and 5-wave corrective pullback channel.
The longer-term pattern shows Check Point has bounced off the bottom of a multi-year up-channel, suggesting it could be about to embark on another leg up. Watch for a move to the channel top in the mid-$90s, and maybe as high as $100. However, it first needs to scale resistance at the prior double-top in the $88 range.
Juno Therapeutics (JUNO) is among the biotech stocks that could start to firm again if the market gets going. The stock jumped $1.67 to $51.77 on 1.8 million shares on Wednesday, and appears poised to break out of its falling wedge pattern. If it does, it will get a quick test of recent highs in the mid-$50's, and then a test of the June 30 intraday spike high at $59.50.
Nuance Communications (NUAN - Get Report) did well on Wednesday, surging $1.01, or 6.5%, to $18 on solid volume of 5.7 million shares. The provider of speech-recognition products had raised its third-quarter guidance on Tuesday. The stock is approaching resistance up in the $18.30 area. If broken, it would next face resistance from the June 2014 high at around the $19.50 area. This is the immediate target, and beyond that, watch for $23.
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