From an early low of .0501 the stock surged as high as .0845, which works out to an intraday rise of 69% and it occurred on more than ten times the 30-day average volume, with DCTH logging its second-highest daily volume of all time.
We’d say our timing was extremely fortuitous on this rebound play, and with the kind price action and liquidity that we witnessed Friday, we’ll definitely be interested to see how the action unfolds to kick off this new trading week.
TrovaGene, Inc. TROV
We wanted to make mention of TROV this morning after noticing a cherry of a PR buzzing over the newswires. The company announced an agreement to provide tests and services for pharma giant AstraZeneca.
Whenever we see one of these smaller pharma company’s have joint news with a big player in the sector, we always want to pay attention to the stock. A perfect example of this is Pieris Pharmaceuticals, Inc. PIRS, which we signaled back on May 4th when that company also had news tying it to none other than AstraZeneca. What followed was a 55% run lasting nearly a month that took it from 3.26 the following day to a high of 5.06 last Monday, the 31st.
On the chance that TROV experiences a similar bullish push on the heels of its own AstraZeneca announcement, we’re going to be sure to have this one on watch in coming sessions.
Ascena Retail Group, Inc. ASNA
We’re also taking notice of a nice technical setup on ASNA, which owns the Lane Bryant retail brand among others, and was another of the NASDAQ’s top gainers of the day on Friday.
The activity came in the wake of a rather disappointing earnings release in terms of financials, but investors clearly responded well to the company outlook moving forward.
As you can see on the included snapshot, the stock picked up speed in its recent ascent off of a bottom, and began to fill a gap on the chart to the upside. We also have a number of other indicators pointing to a possible continued uptrend, so we’ll afford this stock a slot on our watchlist.
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