Trade Ideas: BEAT, CLDX

Shares of Cardionet Inc (NASDAQ:BEAT) hit a fresh record high Friday, marking a fourth consecutive day of gains. After having an exceptional trading day on Tuesday, gapping up to $4.68 and closing up 55% on nearly 7 million shares — the biggest volume ever for this stock — BEAT continues to gain altitude as it holds firmly above its breakout levels. Momentum traders could take the name — currently trading at $5.77 p/sh — to the mid-$6.00 level as this upper range continues to be in play.

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been consistently uptrending for the last 52 weeks (range: $4.36 – $16.43). The bio firm’s year-to-date performance weighs in at 270%. The ticker broke above resistence on Friday. As these patterns continues to develop, and as the trajectory of the ticker’s share price keeps making it a major target for longs, short-term technicals in the name continue looking bullish. CLDX needs to hold the $16 level to see higher price-per-share. Our short-term target: mid-$17 levels.

Disclosure: No Position

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