The last time we mentioned FRO was early this month, at which time the stock was trading at a low of 1.33. It has been ramping its way up over the past few sessions, making higher highs and higher lows, and we wanted to flag it once again this morning as it is trading up significantly in the premarket.
This morning’s high of 2.15 represents an increase of 61% over the 1.33-low that we observed as recently as Monday. With the heavy early-morning momentum we’re seeing we’ll want to follow along with this play closely today and into next week.
Talisman Energy, Inc. TLM
We’ll keep an eye on TLM today as well based on some heavy premarket activity and the fact that the stock is coming up off of its 52-week lows. We’ve noticed a break on the chart due to a gapdown from around 5.60 to 4.80, and with the stock currently trading in the 4.40’s, we should be on the lookout for it to possibly make a run at filling that gap.
ChemoCentryx, Inc. CCXI
Also popping up on our morning scan is CCXI, which is currently trading feverishly in the premarket on the heels of a PR early this morning regarding positive top line results on one of its products currently in testing.
With the stock up over 100% in early trading, we’re going to be on the lookout for massive profit-taking to potentially drive the price back down where it may set us up to take advantage of a dip-and-rip opportunity.
MOUNTAIN VIEW, Calif., Dec. 12, 2014 (GLOBE NEWSWIRE) — ChemoCentryx, Inc., (CCXI), a clinical-stage biopharmaceutical company focused on autoimmune diseases, inflammatory disorders and cancer, today announced positive top-line 52-week data from its Phase II clinical trial in diabetic nephropathy with CCX140, an inhibitor of the chemokine receptor known as CCR2. >> FULL PR
Office Depot, Inc. ODP
ODP was a good call for yesterday’s session, as it made a solid 8% move on news that a large activist investor took up a significant position in Office Depot while raising its existing stake in Staple stock to 10% total ownership. It is fueling speculation that there could be pressure for a merger between the two, so this is definitely a story we’ll continuously track going forward.
Extended Watchlist:
ONVO, ONTY, DENN, FCEL, UBIQ