I hope you all have paid close attention to XNPT today. The great news is they have entered into a license agreement pursuant to which Reckitt Benckiser Pharmaceuticals will be granted exclusive worldwide rights for the development and commercialization of XenoPort's clinical-stage oral product candidate arbaclofen placarbil for all indications. Under the terms, XenoPort is entitled to $20 million up front, followed by another $5 million upon the transfer of certain technology and materials and aggregate payments of up to $70 million upon Reckitt's achievement of development and regulatory milestones, and $50 million for commercial milestones. The stock has delivered a decent 6% intra-day potential gains, but I feel there is much more gains on the table. The technical chart of XenoPort, Inc. (NASDAQ: XNPT) is now much improved after today's action. The MACD has reversed again the course and stock finally closed above its 9-day moving average with high volume. The price can move up to $4-4.25 in the short-term. I alerted my readers on XNPT via twitter.
ISIS Pharmaceuticals, Inc. (NASDAQ: ISIS) Excellent strength relative to broad market. The stock has been strong buy volume the past five sessions. Further rally could be seen to retest $28.08 short-term resistance. As long as the stock stay above $24 area, the bullish scenario is still intact.
Himax Technologies, Inc. (NASDAQ: HIMX) A substantial bounce lies ahead. The stock is displaying a short upside momentum and is poised to move higher from these levels. Short-term traders could go long once the share price moves above $7.16
Brookfield Asset Management Inc. (NYSE: BAM) has been on fire the past few days and today made a new 52-week high of $44.16. Im keeping the stock on the list for the continuation move. The technical daily chart shows a continuation of the trend with MACD and RSI in the Bullish areas.
Yelp Inc (NYSE: YELP) appears to be forming a bottom right now. As long as the stock is trading above $52, I like the stock. If the stock closes above $57, you could see a big turnaround in YELP.
China XD Plastics Co Ltd (NASDAQ: CXDC) continues to show some nice strength for a small cap. The stock hit a high of $8.80, which is resistance for the follow through move. You should watch this stock closely on Friday.
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