Stock Analysis

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Ionis Pharmaceuticals ($IONS) announced the FDA has approved Spinraza under Priority Review for the treatment of spinal muscular atrophy in pediatric and adult patients.

 

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Spinraza was discovered and developed by Ionis and Biogen ($BIIB) and licensed to Biogen, which is responsible for future development, manufacturing, and commercialization of the drug.

 

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Discount retailer Fred’s ($FRED) announced that its Board of Directors unanimously adopted a shareholder rights plan. Fred’s said the plan would reduce the likelihood that any person or group would gain control of the company through open market accumulation without appropriately compensating its shareholders.

 

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$AAPL needs to take out the resistance zone of $118 to see further upside. For now, the bias remains bullish.

 

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$NFLX this stock can go either way. Resistance: 129.29, immediate support 122.97

 

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$TSLA Bullish, but a pullback would be nice.

 

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$TSLA is now trading back above the 200 day moving average. Tesla (TSLA) is a strong buy below $190 if we see another big correction.

 

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$AAPL is trading around $116 again. AAPL is a good buy right now for the long term.

 

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$SHAK dropped back below $37 this week. SHAK continues to deliver and should be a huge gainer in 2017.

 

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Sprint ($S) may also be in focus after announcing a commitment to create or bring back 5,000 jobs to America by the end of its fiscal year 2017.

 

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Small Cap Bull 3x ($TNA) is trading down near $100 again. TNA is a strong buy on all major pullbacks in 2017, especially in the $65-$72 range.

 

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$MRUS After a large deal last week, MRUS is back above $21. Watch resistance in the $21's going forward.

 

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China 3x Bull ETF ($YINN) surged above $15 this week and is red hot. YINN is a strong buy between $13-$14 if we see more downside.

 

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Shares of $IDXG exploded from $4.80 to over $14 before retreating into the close. IDXG will be one of the top stocks to watch on Wednesday. Shake Shack ($SHAK) and Small Caps 3x Bull ($TNA) are strong buys on all major pullbacks in 2017.

 

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$TSLA is now trading back above the 200 day moving average. Tesla (TSLA) is a strong buy below $190 if we see another big correction.

 

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$CMG failed near the $400 level recently. CMG is a buy below $350 over the next three months.

 

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Tesla Motors ($TSLA +1.54%) dropped 2% in after-hours trading after it reported 76,230 vehicle deliveries for 2016, below the company's own forecast of 80,000 vehicles.

 

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Chemours ($CC -3.94%) rose over 1% in after-hours trading when it was announced that it will replace Idexx Laboratories in the S&P Midcap 400 after the close of trading on Wednesday, Jan 4.

 

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Amgen ($AMGN +3.09%) rose 1% in after-hours trading after a trial judge let stand a patent win on Amgen's PCSK9 patent. Regeneron Pharmaceuticals (REGN +3.44%) fell nearly 2% in after-hours trading on the news.

 

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Nivalis Therapeutics ($NVLS) announced its Board of Directors has initiated a process to explore and review a range of strategic alternatives focused on maximizing stockholder value from its clinical assets and cash resources.