Watchlist for March 2017

I am watching a bunch of biotech stocks today for potential swing trades over the next few weeks. I wanted to share these ideas with you guys and hopefully some of the stocks below can make us some money! As regular readers know, I love swing trading biotech stocks! Check out the link below if you are new to trading biotech stocks for a free training webinar.

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Nabriva Therapeutics (NBRV)

This stock has some nice potential upside in my opinion. The chart (below) is forming a nice base around $5.4 per share. If I buy a position in this, my stop loss will be set to about $5.2 per share. I usually prefer momentum trades, so these flat type charts do scare me a little!

The reason for buying NBRV is that there is likely a catalyst just weeks away – they claim that they will release Phase 3 antibiotic data this spring. Not exactly sure what ‘this spring’ means but for me this will likely be a 2-4 week swing trade if I buy it today.

 

 

$NBRV is my favorite potential buy today and I will be looking for a target price of $7-$8 if I purchase it. With all these biotech catalyst plays, I like to buy early and sell into the hype as the price raises on the rumor of a catalyst.

I have found this trading strategy to be highly successful. I learned this strategy from Biotech Stock Millionaire, Kyle Dennis (Check out my review of his biotech catalyst stock watch list).

VKTX

This is an interesting one. I love the chart that just keeps grinding up following the 20 day moving average. The 20 day moving average is at $6.26, if this holds I will look to start a position in $VKTX. They have a catalyst in the second quarter when they will be releasing Phase 2 data – I expect to see this climb steadily until then. I am usually wrong though so please don’t take my word for it!

My stop loss for this swing trade will be around $6 per share with my target price $7+. I am keeping a close eye on the price movement today before deciding to buy or not. I want to see some support at the $6.26 level before buying for a swing trade.

**Update – I bought $VKTX at $6.28 as it bounced nicely on the 20 MA***

Rigel Pharmaceuticals (RIGL)

I bought $RIGL at the open at $3.75 for a swing trade into April. There is a nice Catalyst on April 17th for FDA approval.

Hopefully, we will see a rise in the price up towards $4-$5 per share over the next month or so. I am setting a pretty tight stop loss on this one if it breaks the base. The price target by many analysts is over $6 per share so we shall see!

Hopefully these swing trade ideas are interesting and helpful to you! Good luck trading !

Wesley.

P.S. If you like these ideas, you can sign-up for free email alerts with these types of trading alerts from millionaire traders! They have some of the best ideas for swing trades !

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